February 2009

I am always looking information that might be useful for homeowners and for those planning to become homeowners. I think the new Home Renovation Tax Credit is especially helpful for buyers who are considering taking advantage of one of the many available deals on ”fixer upper” type properties.

The HRTC will provide a temporary 15-per-cent income tax credit on eligible home renovation expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, pursuant to agreements entered into after January 27, 2009. The credit may be claimed for the 2009 taxation year on the portion of eligible expenditures exceeding $1,000, but not more than $10,000, and will provide up to $1,350 in tax relief.

For more information on this program check out http://www.budget.gc.ca/2009/plan/bpc3c-eng.asp

As home sellers across the country adjust to new market realities, RE/MAX is set to launch Fit to Sell, an innovative new program designed to secure home equity.

RE/MAX has enlisted the help of popular staging expert Carla Woolnough, host of the DVD series ‘How to Stage your own Home’ and owner of Nex-Step Design, to develop Fit to Sell. The program encourages existing homeowners to increase their stake in the home-selling process by working with their real estate professional to bring their home to the market. Fit to Sell ultimately rewards their participation by maximizing sale price and minimizing on-market time.

Contact Roger Bouma or Mike Bouma at www.bouma.ca for more information on this new program.

After the success of our recent first time buyer seminar, we have decided to do it again!

Saturday March 14th, 2009, starting at 10:00 a.m. we will be hosting this FREE seminar for first time buyers at the Whitby Branch of TD Canada Trust located at 404 Dundas Street West. Brad Drumm, Area Mortgage Manager with TD Canada Trust will discuss the various mortgage products available and explain how they affect the monthly cost of carrying homes in different price ranges. Brad can also start the process of pre-approving you for a mortgage!

The home buying process doesn’t have to be complicated. Mike and I will explain the steps to home ownership, show you sample listings of homes in different price ranges within Durham, and answer all you real estate questions.

Come and enjoy this relaxed, no pressure event and leave with tonnes of useful information. If you or anyone you know is interested in attending this event, please call Mike Bouma at 905-434-5452 or visit our website www.bouma.ca/seminar.html

Roger Bouma. Broker
RE/MAX Ability Real Estate Ltd, Brokerage
www.Bouma.ca
905-434-5452

The Federal Budget 2009 announced several incentives to get Canadians spending by buying a first time home, or renovating the one they are already in. Some of the budget highlights include:

• Providing first-time home buyers with additional access to their Registered Retirement Savings Plan savings to purchase or build a home by increasing the Home Buyers’ Plan withdrawal limit to $25,000 from $20,000.
• Assisting first-time home buyers by providing up to $750 in tax relief to help with the purchase of a first home.
• Implementing a temporary Home Renovation Tax Credit that will provide up to $1,350 in tax relief, reduce the cost of renovations for an estimated 4.6 million Canadian families, and provide needed stimulus to the economy.
• Providing an additional $300 million over two years to the ecoENERGY Retrofit program to support an estimated 200,000 additional home retrofits.

For more information about the Federal Government’s budget, go to http://www.budget.gc.ca/2009/plan/bpc3c-eng.asp.