Posts in category 'First Time Buyer'

One of the biggest questions on homeowners' and buyers' minds today is whether it makes sense to move forward with a purchase or sale now—or hold off and wait. In a city like Victoria, where housing demand has remained strong and inventory levels shift seasonally, the decision can feel even more complicated. While waiting on the sidelines in hopes of a significant drop in prices or rates is always an option, the reality is that those shifts may take months (or even years) to materialize. Depending on your situation, waiting might not be the most practical choice.

Start With Your Finances

Before anything else, take a close look at your financial picture. Can you comfortably afford the type of home you want right now? This includes not just the purchase price, but also all housing-related expenses—mortgage payments, property taxes, insurance, utilities, and ongoing ma...

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If you're buying real estate in Victoria, one cost that can catch buyers off guard is the Property Transfer Tax (PTT). Unlike property tax, which you pay yearly, PTT is a one-time tax paid when you purchase or gain an interest in real estate.

Here's some information, including how much it costs — and whether you might be eligible for an exemption.

How Much is the Property Transfer Tax?

The amount you pay is based on the fair market value of the property on the date it is registered with the Land Title Office. Here's the standard calculation:

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