The threshold for the First Time Home Buyer's program - which exempts those buying their first home from paying the property transfer tax - was increased to $425,000 from $375,000.
In addition, buyers will no longer be required to have a mortgage of at least 70 per cent of the purchase price to qualify. As an added bonus, owners who leave home for up to two taxation years for travel, work or schooling will still be eligible for the homeowner grant or low-income grant supplement.
In addition, buyers will no longer be required to have a mortgage of at least 70 per cent of the purchase price to qualify. As an added bonus, owners who leave home for up to two taxation years for travel, work or schooling will still be eligible for the homeowner grant or low-income grant supplement.
