The BC Government recently released the BC First Time New Home Buyers’ Bonus program which would grant first time home buyers up to $10,000 back with the purchase of a new home. The requirements to qualify are below and to view the full PDF click the following link: 2012 First Time Home Buyers Fact Sheet.
You will qualify as a first-time new home buyer if:
- You purchase or build an eligible new home located in B.C.;
- You, or for couples, you and your spouse or common law partner, have never previously owned a primary residence;
- You file a 2011 B.C. resident personal income tax return, or if you move to B.C. after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012);
- You are eligible for the B.C. HST New Housing Rebate; and
- You intend to live in the home as your primary residence.