You want to purchase a property, how exciting!
Keep in mind that you will require mortgage loan insurance if your down payment is less than 20%.
The insurance cost is based on the size of your down payment and the amount of mortgage. This cost can be added to your mortgage payments or paid as a lump sum.
Published by Canada Mortgage and Housing Corporation
The Home Buyers Plan (HBP) is a program that allows you to withdraw up to $35K from your Registered Retirement Savings Plan (RRSP) to buy or build a home, these funds need to be paid back within 15 years.
In order to be eligible for this program you must;
1) Be a first time home buyer
2) Written agreement to buy / build
3) Be a resident of Canada
4) Intend to occupy the home as your principal residence
See full details: What is the Home Buyers' Plan (HBP)?
Publication: Government of Canada Website
The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak.
On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as part of the Government of Canada’s COVID-19 Economic Response Plan, will provide up to $27 billion in direct support to Canadian workers and businesses.
Publication: Government of Canada Website
People purchase pre-sale units for many reasons, some hope to buy a home cheaper during pre-sale than when the project is complete, others invest to make a profit.
When someone sells their pre-sale prior to completion, they are "assigning" their contract to someone else. The original purchaser (person who purchased the pre-sale) may have to pay an assignment fee to the developer in order to assign their contract.
Purchaser number two (the person purchasing from the pre-sale buyer) usually purchases the assignment sight unseen .... Hamiliton Village is an exception!
Phase I is complete, however, as the road isn't finished they have not received their occupancy permit. This is a fabulous opportunity to purchase an assignment as you can see the product prior to making an offer.
I viewed several of the units listed for sale in this brand new complex, they truly are beautiful.
When you walk into a unit, the 9ft ceilings give them a bright and airy feeling. Thought was definitely put into the design of this complex and extra expense was evident with under counter lights, soft close cabinets, energy-efficient appliances including a gas range and quartz countertops. The decks are huge compared to many I've seen. These units come with the 2/5/10 warranty which certainly gives you peace of mind.
This area is connected to everything, trails, waterfront, outstanding schools, transit and new retail space. This is a growing area that easily links to Richmond, New Westminster, Burnaby, Vancouver, Surrey, Delta and beyond.
1 bedroom plus den start in the low 400K and come with parking.
Hamilton Village has a pool, gym, hot tub and multi purpose room, plus communal garden and courtyard
Click here to view Hamilton Village Assignments
Please call me for your private viewing 604-828-9095
Photo: Courtesy of HamiltonVillage.com
3995 Fraser Street
Vancouver, BC, CA
V5V 4E5
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