First-time buyer? Than there’s no better time to purchase at River Park Place in Richmond. Not only is construction well-underway, but your purchasing power was recently increased thanks to changes to BC’s property tax system.
On February 19th, the provincial government raised the threshold for the first-time buyers’ property tax exemption program. Under the new rules, virgin home purchasers can save up to $7,500 on any home priced up to $475,000 (the previous threshold was $425,000). Property transfer tax is calculated at a rate of one per cent on the first $200,000 and two per cent on the remainder of the purchase price.
With one-bedroom homes at River Park Place starting from $229,900, and two-bedroom homes starting from $354,900, Intracorp has a number of homes that fall within the first-time buyer savings threshold. For example, home No. 810 — a 778-square-foot C5 Plan is priced at $434,900, which means first-time buyers will save $7,000 on this particular home.
The C5 Plan, as you can see below, is a spacious two-bedroom home with two separate balconies. Other desirable home features include open living and dining areas, a recessed workstation, and gourmet kitchen appliances from AEG and Blomberg.
To learn more about the property transfer tax exemption program for first-time buyers, visit the River Park Place sales centre at 7100 Elmbridge Way in Richmond. The facility is open from 12pm to 5pm daily except on Fridays.
For more information call 604 282 7838 or visit their website here.