Last week, I wrote a brief post providing details on the Saskatchewan Party’s plan to provide a tax credit to first-time home buyers that would save then up to $1,100 when purchasing their first home. I’ve just been reviewing the housing strategy for the New Democratic Party (NDP), which is substantially more comprehensive. According to their platform brochure, the NDP plans to implement the following housing initiatives should they end up forming a government following the November 7 election.
  • Rebating the PST on construction materials for new houses to be priced under $280,000; and
  • Rebating the PST on the first $10,000 in repairs to homes more than ten years old.
  • Investing $20 million into co-operative and community organizations to buy land for housing.
  • Providing first-time homebuyers a $2,000 grant to cover closing costs and other related expenses for homes purchased for under $280,000.
  • Offering interest-free loans to co-operatives and community organization building new housing stock.
  • Ending unfair rent increases through next-generation rent control. We will  introduce rent control that makes allowances for new construction and non-corporate landlords.
  • Investing $230 million to create 2,500 new public rental units, with 1,000 units dedicated to student accommodation, and to upgrade existing units by working with community organizations and co-operatives.
  • Making a commitment to end homelessness with $20 million targeted to a “Housing First” approach, based on the belief that a stable place to live is a basic right and a critical building block to helping individuals gain stability in their own lives.
  • Adding 750 new subsidized affordable assisted-living units, with special attention paid to building these onto long-term care homes so that couples who require different levels of care can stay together.
  • Providing a property tax rebate of $500 per year to senior homeowners and renters.
  • Introducing the Credit for Caring refundable tax credit of up to $1,000 per year to individuals providing care to elderly or disabled relatives or friends.
  • Guaranteeing Saskatchewan residents the lowest-cost bundle of utilities in the country.
Read the NDP’s platform brochure here. Read the Saskatchewan Party’s platform brochure here. I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email. Our Saskatoon home search tool offers MLS® listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here. Norm Fisher Royal LePage Vidorra

From the Star Phoenix website today: "The Saskatchewan Party says a new tax credit for first-time homebuyers would make home ownership a little more affordable. On the campaign trail in Regina on Thursday, Premier Brad Wall pledged to introduce a non-refundable income tax credit to all first-time homebuyers that would result in an income tax savings of $1,100."

Read more.

How do you feel about this campaign promise?

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Norm Fisher Royal LePage Vidorra

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