25 Feb

Property Transfer Tax

General

Posted by: Kimberly Walker

What Is PTT?

The Property Transfer Tax is a tax payable to the Provincial Government by purchasers of real estate. The tax applies to all types of real estate, whether residential, commercial or industrial.

How Is It Calculated?

The amount of the Property Transfer Tax is 1% on the first $200,000.00 of the property’s fair market value, 2% on the amount between $200,000 and $2,000,000, and 3% on the amount between $2,000,000 and $3,000,000, and 5% of the remaining fair market value.

Standard Calculator

The first calculator is what we call our standard calculator. This is to be used if the Buyer is not a First Time Home Buyer, or if they are purchasing a used home, not a new one.

First Time Home Buyer Exemption

Spagnuolo First Time Home Buyers Exemption Calculator

The second calculator is to be used if the Buyer is a First Time Home Buyer. Just a reminder, a FTHB means the Buyer

  • Has never have owned an interest in a principal residence anywhere in the world at any time;

  • Is a citizen of or a permanent resident of Canada;

  • Resided in B.C. for 12 consecutive months immediately before the date they become the registered owner, or the Purchaser has filed two income tax returns as a British Columbia resident within the prior 6 years of becoming the owner;

  • Moves into the property within ninety-two days after registration of the purchase of the property and reside in the property for at least one year;

  • If the fair market value of the property is:

    • a full PTT exemption on properties with a Fair Market Value (FMV) of $500,000 or less;

    • a partial exemption of $8,000 for properties with a FMV over $500,000 and under $835,000;

    • a sliding scale exemption for properties with a FMV over $835,000 and under $860,000; and

    • no exemption for properties with a FMV over $860,000.

Newly Built Home Buyer

Spagnuolo Newly Built Home Buyers Exemption Calculator

The third calculator is to be used if the Buyer is purchasing a Newly Built Home. To qualify for this exemption, the following criteria must be met:

The property must be newly built, as defined in the legislation

  • The Buyer must be an individual and a Canadian citizen or permanent resident;

  • The property must be used as the principal residence of the Buyer, who must move into the property within ninety-two days after registration of the purchase of the property and reside in the property for at least one year;

  • The property must be 1.24 acres or smaller;

  • To receive the full exemption, the price for the home must be less than $1,100,000. A partial exemption is available for properties with a fair market value between $1,100,000 to $1,150,000.

 

24 Feb

Coldest Night Of The Year 2025

General

Posted by: Kimberly Walker

Sources, Coldest Night of Year
February 22, 2025
Raised: $220,728.00 to Date
HomeLife Benchmark Realty,
Supporting Sponsor
SOURCES has been promoting social wellness since 1978. Over time, services have expanded in the communities of White Rock, Surrey, Delta, Langley, Vancouver Island and Northern BC.
Providing people with food, clothing and shelter, connecting vulnerable persons to counselling and other community services.
9 Oct

New Price – 15044 19A Avenue – List Price: $1,379,000

General

Posted by: Kimberly Walker

Southmere Village. 1300 sq. ft., 3 bedrooms, 2 bath one level home, built in solarium, wrap-around sundeck and double garage. Vaulted cedar ceilings throughout, wood fireplace, 10-year new asphalt roof, skylights and exterior paint. 5-year vinyl windows. 15-year forced air furnace. 6,035 sq. ft. corner lot, at the head of cul de sac, private east back yard. Wonderful neighbourhood, walking trails across the street to duck pond, within blocks of Semiahmoo Mall, HT Thrift Elementary and Semiahmoo Secondary Schools, soft ball city, ice rinks, urban forest and White Rock beach.
30 Sep

New Price 💫💫💫💫💫 14261 18 Avenue – List Price: $1,488,000

General

Posted by: Kimberly Walker

Charming, stylish and unique 3-bedrooms, 2-storey home awaiting your personal touches and ideas. Abundance of natural light with vaulted ceiling with skylights. Sunken living room. Move-in ready 1952 sq ft includes 2023 new furnace and hot water tank; 2024 upgrades: new paint in and out, gutters with leaf guards, LED lights in and out, concrete leveling, fencing, double pain windows inserts, new flooring throughout and many more. SS appliances. Quiet and private south-east 8386 sq ft yard that backs onto Bayridge Park greenspace makes it an oasis. Top-notch school Bayridge Elementary School and amenities just a stone’s throw away. Welcome to this safe Ocean Bluff home.

30 Sep

New Price💫💫💫💫💫 42 1725 Southmere Crescent List Price: $1,099,000

General

Posted by: Kimberly Walker

Englesea. Rare find, “Tranquil location with picturesque views Southmere Village Park and Pond”. 2,406 sq. ft. two level plan with “Elevator”. Main floor traditional layout, gracious living and dining rooms, gas fireplace, vaulted ceilings and skylights, plus den each with sliding patio doors opening onto private patio. Upper-level expansive primary suite, double closets and ensuite, overlooking pond. Front bedroom and main bath. Upgraded furnace. Double garage. Be sure to bring your decorating ideas, original condition. Well, run strata, updated asphalt roofs, garage doors and exterior paint. Outdoor pool and clubhouse. Maximum 4 people per home, 2 pets welcome: up to 18” and 40 pounds. Ideal location, steps to Semiahmoo Mall.

 

26 Sep

JUST SOLD – 27 14877 33 Avenue – List Price: $1,250,000

General

Posted by: Kimberly Walker

Welcome to Sandhurst – Gated Community. Built by Award Winning Polygon. Sought after 1,704 sq. ft. bright corner plan, nicely updated & shows new. Primary bedroom on main: quartz top, double sinks, extra wide shower. Vaulted ceilings, cherry wood hardwood flooring, bright white kitchen, quartz top, tile flooring, living room & family room gas fireplaces. Upper level 2 bedrooms, one with cheater suite. Forced air furnace, double garage. One of the nicest cul de sac locations, steps to clubhouse complete with party room, gym, library & billiard room. Enjoy the morning sunshine, fabulous eastern exposed private fenced rear yard overlooking park-land. Within steps of Choices Shopping Center. 55+ age restr., 2 pets(2 dogs/cats, or one of each) welcome.
25 Sep

New Listing in Foster Martin View Condo – White Rock

General

Posted by: Kimberly Walker

1402 1500 Martin Street – List Price: $917,000

The Landmark at Foster Martin. 3 towers, exudes elegance & sophistication. Stunning unobstructed 14th floor panoramic south/west ocean & White Rock pier views from large balcony & 807 sq. ft. 1 bed & den private corner suite. Features 9′ ceilings, UV rated windows, engineered floors, modern HVAC, heat/air system. Full height light kitchen, marble counters, large island, water fall edge, Miele stainless appliances, gas cook top. Bathroom floating marble vanity, marble tiles, soaker tub, frameless glass shower, in-floor heat. Full time concierge, entry phone system, 1 full size parking spot, large storage, plus bike locker. Indoor/outdoor pool, sundeck, spa, sauna, steam, gym & yoga studio, business lounge & meeting room. Steps to Semiahmoo Mall.

25 Sep

Homelife Halloween Trick or Treat, Carnival, and Pumpkin Carving Contest

General

Posted by: Kimberly Walker

When: Saturday, October 26th @ 12:00 – 3:00

Where: HomeLife Benchmark Realty Back Parking Lot: 1920 152 Street, South Surrey

  • 12-3PM: Play Carnival Games, Prizes, Photo Booth, Face Painting, Clown, Jerome and so much more
  • 12-3PM: Serving Hot Dogs, Popcorn, Coffee, Water
  • 12-1PM: Bring Your Carved Pumpkin for Judging
  • 1:00: Trick or Treat Around the Businesses. Bring Your Tote Bags
  • 2:00 PM:  Pumpkin Contest Winners Announced