Earlier this year, the Government of Canada released its 2019 Federal Budget, including the controversial and completely new First-Time Home Buyer Incentive Program. As this program is unlike anything else currently available, we are sharing the details of the incentive released by CMHC today, below.
To re-cap, there were two mortgage-related changes included in the 2019 Budget, both aimed at improving first time homebuyers’ opportunities to enter the housing market. These are:
Increase to the amount that an individual first time homebuyer may withdraw from their RRSP’s for the purpose of purchasing their first home. Previously, the maximum one could withdraw was $25,000, but now the maximum withdrawal amount has been increased to $35,000. This increase acknowledges the higher costs housing costs and assists homeowners in accessing more low-cost funds to help with their first home purchase. You can download the most recent ‘Home Buyers’ Plan Request to Withdraw Funds from an RRSP’ here.
The First-Time Home Buyer Incentive is an interest-free loan provided by the Government of Canada, which is intended to help reduce the monthly payment, improving cash-flow as a result.
At Kennedy Real Estate, we recommend you work with a Licensed Mortgage Broker, who will assist you in determining whether these programs, and others, will be right for you. Our in-house Mortgage Team are members of the Mortgage Alliance Enrich Mortgage Group provide individualized qualification & credit assessments at no cost to you. Simply Apply Today; and one of our team will be happy to get things started right away!
One thing about real estate, and markets – both are changing all the time. Good times and bad. A home or the market it is in maybe difficult – but not impossible for selling. All homes are capable of a sale – it’s all in how it is framed and offered – given your price is in line with market. There may just be some issues your house is dealing with that you may not be aware of that are holding you back. Take the quiz to see if you are dealing with any of these issues…
When selling your home, you must remember that you cannot be all things to all people but you can be the right home for the right buyer. When you address your home’s ‘health’ issues – you remove the barriers to a sale. It really is just that simple. Are you up for the task?
This lovingly updated bungalow is perfect for those who want to downsize, but still want some elbow room, or the first-time homebuyer that is tired of sharing space with roommates. Why rent when you can own? And, without condo fees! This home has everything you need: a Chef’s kitchen, front living room w/ large window facing the park, two good sized bedrooms & 4 pc bath complete the main level. Downstairs, you’ll find a spacious family room, den & laundry/mechanical room. Large vinyl window keep things feeling spacious & bright. Everything has been upgraded here: Brand new washer & dryer (2018), stainless steel appliances in the kitchen (2015/2016), backsplash & tile floors in kitchen & bath (2015), front porch (2017) front walkway (2018). The fully-fenced backyard is private with tall wooden fencing, vegetable gardens, apple trees, storage shed & garage. All this just blocks away from the river valley, shopping, transit & easy access to downtown.
This gorgeous home has so many beautiful features! As you enter, you’ll appreciate the custom tiled entryway, then your eye will be drawn to the gorgeous stone feature wall that spans the vaulted living room. A gas fireplace makes the room warm and inviting – Imagine holiday gatherings in this space!! Tasteful pillars & decor nooks separate the living room from the kitchen, which features a large granite island, warm colored cabinetry and s/s appliances. A den w/french doors, half-bath and separate laundry room complete the main level. Upstairs, you’ll appreciate the massive master suite, complete with a custom walk-in closet & spacious ensuite, including soaker tub. The 2nd & 3rd bedrooms are large enough to fit queen sized furniture as well, which is a rare find! There’s even more in the basement, you’ll find a large family room, 4th bedroom (lower bedroom furniture stays), office (could be a 5th bedroom), 3 pc bath & Sauna. All this on a fenced pie-lot in the Hamptons!
This lovely home has been in the family for 2 generations and has been lovingly updated and maintained over the years, showing exceptionally well! It has many accessibility features for families who have loved ones wishing to age in place. Upgrades include: Kitchen updated (2010), Basement developed (2012), 2 HWT Tanks, New Shingles (8/2018), NG BBQ hookup, Plumbing & Electrical upgraded (2012). Bathrooms are all tastefully updated with large walk-in showers & tiling.Basement boasts a full kitchen, second laundry, large bedroom w/walk-in closet, spa-like bathroom, 2nd laundry & large family room. Upgraded Vinyl Windows. Single attached garage w/220 wiring, plus extra long & wide driveway for additional (RV?) parking. Huge fenced yard with mature trees. All developments permitted.
The Hamptons Half-Duplex 4 bdrm, 3.5 bath – NO condo fees!
Great Starter Home in Popular West Neighbourhood – Available For Quick Possession. NO Condo Fees!!!
This half-duplex features a cozy gas fireplace in the living room, tile & laminate throughout the main level & warm neutral colours throughout. All Black Appliances in the Kitchen go very well with the warm palette.
3 bedrooms up + large 4th bedroom with walk-in closet & full ensuite downstairs!
No pets & No smoking in this clean home! Fully-fenced backyard with fruit trees & garden shed is great for the little ones.
Fantastic 4 bdrm, 4 level split in Sakaw perfect for families!
Great starter home, conveniently located on bus route, just off 66th Street. Envision this home with your own colours!
This cozy 4-level split home is allergy-friendly; no carpet, no pets & no smoking here! Large south-facing windows makes this home nice and sunny year-round. It has newer vinyl windows, new concrete front walk & driveway, leading up to your over-sized double-detached garage.
The bright open kitchen has been updated with white cupboards, butcher block countertops & stainless steel appliances. There are 3 bedrooms upstairs w/main bath. A large 4th bedroom located on the 3rd level w/ family room & 3 piece bath could be your teenager’s oasis! Unspoiled basement houses laundry and plenty of space for storage.
Huge backyard is fully fenced with low-maintenance landscaping.
Homes can be difficult to sell for many reasons…
