Join Lawrence Mak as we discuss the details of the new First Time Home-Buyers Incentive Program introduced by the Canadian government to start on September 2, 2019.
Learn about the pros and cons and a sample math calculation of how the equity might play out.
Lawrence Mak, Real Estate Broker at Re/max Realtron Realty Inc.
0:30 What is hte First Time Home-Buyers Incentive Program
0:45 Do I hate this program?
1:05 Will the government get a “share” of your house?
1:20 When does it start?
1:30 How much will the government contribute?
1:45 What’s the maximum our household can make?
2:00 How much of a house can you buy?
2:20 What is the main advantage of this program?
2:40 Why is the $3,000 “savings” not entirely accurate?
3:35 How is the equity payment split out?
4:20 Can you buy much in Toronto?
5:00 How much less mortgage will you get compared with a regaulr mortgage
5:30 Is the timing suspect?
5:45 How will the payments be made in terms of future purchases?
6:15 Can you give an example of a $400k condo that will sell for $600k?
6:55 What is the advantage of this program?
7:15 What other incentives for first-time home buyers is the government introducing?
If you have any questions about this incentive program or real estate, please call or text Lawrence at (416) 276-4895.