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BENEATH TOWERING MOUNTAINS rising out of the
Cove. (Lan Smith photo)

SS

waters of Indian Arm a sailboat beats tts way towards Deep

C1S-Sunday News, July 27, 1930

er

reased

$70,000 homes qualify

The province has in-
creased the maximum house
prices which qualify for a
prant or mortgage by 25% to

35% under the Home
Purchase Assistance Act,
Housing Minister Jim

Chabot has announced.

The First Home Grant or
the Family First Home Grant
can now be applied to
houses costing up to
$70,000, and the B.C.
Second Mortgage can be
applied to houses costing up
to $84,000, provided the
purchase was made on or
after July 1, 1980. Both these
prices are applicable
throughout the province.

Previously, separate pnce
limits for houses were set
depending on their location.
Removal of the different
prices based on location 1s
one further step in deregula-
ting the ministry's programs,
and recognizes that in some
communities, especially
rapid growth centres, house
prices are approaching those
in the Lower Mainland and

George Robb

Capital Region.

Chabot said, “The new
price revisions amount to
increases of 25% to 35%
across the province. With
these increases, first home
buyers will be able to find
good homes within the price
limits in every community or
metropolitan area.

The revised house prices
will remain in effect for one
year, until June 30, 1981.
The house prices are ad-
justed periodically based on
recommendations from the
minisiry’s regional offices,
the B.C. Real Estate
Association, and the
Mortgage Investment
Association.

Chabot expressed ap-
preciauion for the input and
assistance provided by these
agencies, and _ stated he
expected the new house
prices will ensure coverage
of a significant supply of
modest homes in each
community throughout the
coming year.

Drew Finerty

Call us today.

Shore

The Real Estate Showcase can put your hom
or your fistings ‘on view’ across the whole North

When you want to advertise in the Real
Estate Showcase, callus.

980-0511

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