PEI Real Estate Report - First Time Homebuyers

Are you buying a home for the first time? Did you know that if the property you are purchasing is under $200,000, even just a $1 less, you are not required to pay Land Transfer Tax which is 1% of the greater purchase price or assessed value of the real property. That means you will save close to $2000. If your purchase price is under $200,000 you are even eligible for reduced legal registration fees.

These are just some of the things you should be aware of when buying a home for the first time. At Century 21 Colonial Realty, we have a New Home Buyer Checklist which itemizes all of the details that you need to be on top of when buying. Let a Century 21 Colonial Realtor help you navigate through what can sometimes be a confusing process for first time home buyers.

Do you have more questions about this topic? Our REALTORS are here to help you. If you would like more info on this or other real estate topics go to and join us on facebook where we discuss in more detail.

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