Premier David Eby has been clear that speculators are in his crosshairs, and with the 2024 budget his government has announced details of a new 'BC Home Flipping Tax.'
Really run-down houses will have lots of room for profit as they buy them for cheap and invest in renovating them. Taking 20% off the top just alters the economics of it, and leaves it for someone who would buy the house to repair/renovate it so they can live in it.
Really run-down houses will have lots of room for profit as they buy them for cheap and invest in renovating them. Taking 20% off the top just alters the economics of it, and leaves it for someone who would buy the house to repair/renovate it so they can live in it.