Maria Mak - Burnaby Reaaltor - Latest Real Estate News
The Home Buyers' Plan (HBP)
Delivered by: Canada Revenue Agency (CRA)
The Canada Revenue Agency considers the following persons first-time home buyers:
persons, including former homeowners, who have not owned a home they occupied as a principal place of residence at any time during the four-year period before the date of withdrawal of funds
disabled persons acquiring a more accessible home
persons acquiring a more accessible home for a disabled person related to them by blood, marriage, common-law partnership or adoption
persons providing funds to a disabled person related to them by blood, marriage, common-law partnership or adoption, to build or purchase a more accessible home
Other criteria may apply.
Dates and Deadlines
Participants must begin repayment two years after withdrawing the funds.
Amounts withdrawn under the Plan must be repaid over a period of no more than 15 years.
For all your premium real estate services, please contact Maria Mak and her team at Sutton Centre Realty at 604-839-6368 or visit her websites at www.mariamak.ca, www.mariamak.com, You'll be smiling too!