Forget about buying a home in Vancouver

If you are a first time buyer looking for a detached home in Vancouver, our new budget is no help. The threshold for the First Time Home Buyer’s program — which exempts those buying their first home from paying the property transfer tax — was increased to $ 425,000 from $375,000, a saving of over $6,000.

There is nothing below $425,000 for a home with your own backyard in Vancouver. For first time buyers that want to take advantage of the program, the only solution is to move out of Vancouver or buy into a townhouse or apartment.

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