2975 West 12th Ave., Vancouver

Type: 5-bedroom, 6-bathroom detached

Size: 3,455 sq. ft

B.C. Assessment, 2012: $1,533,800

Listed for: $2,868,000

Sold for: $2,750,000

Sold on: Oct. 15

Days on market: 17

Listing agent: Nadja Pasic at RE/MAX Crest Realty Westside

Buyers agent: Jason Chen at Sutton Group — West Coast Realty

The big sell: This three-level home was built earlier this year on a 39.5-by-122-foot lot — slightly wider than the average 33-foot-lot size in Kitsilano. The property was designed with a growing family in mind, as the top floor contains four large bedrooms, three with ensuite bathrooms. The main level has a spacious entryway that flows to an open-plan living and dining area, and a bright kitchen and family room. The basement offers opportunities for entertainment and guests, with a media room, recreation room, second laundry space, two bathrooms and bedroom. The home has air conditioning, heat recovery ventilation, a two-car garage, a security system and a separate wok kitchen. The residence comes with a 2-5-10-year warranty, and has easy accessibility to the shops on Broadway, as well as transit routes to downtown and UBC.

Read more: http://www.vancouversun.com/business/Kitsilano+home+fetches+more+than+million/7733746/story.html#ixzz2GD2h4FTN
Read more: http://www.vancouversun.com/business/Kitsilano+home+fetches+more+than+million/7733746/story.html#ixzz2GD2UxsLl

http://www.vancouversun.com/business/Kitsilano+home+fetches+more+than+million/7733746/story.html

As we get closer to the HST transition period, it may get a little confusing but here is a great website that will answer your questions...

HST to PST: Transition Rules for Real Property

Commencing April 1, 2013, in BC the HST will be replaced by the federal GST and the BC PST. On February 17, 2012, the BC Ministry of Finance and the federal Ministry of Finance announced general transition rules for real property. For more information, click here.

HST/PST Calculator for BC

The amount of HST paid on real estate transactions in BC can vary substantially. To calculate the amount owing on a BC real estate transaction, click here.

Enhanced BC HST New Housing Rebate

On February 17, 2012, BC Minister of Finance Kevin Falcon announced the provincial government’s intention to enhance the existing BC HST New Housing Rebate by increasing the threshold to $850,000 from $525,000. For more information, click here.

First-Time New Home Buyers' Bonus

On February 21, 2012, BC Minister of Finance Kevin Falcon announced the B.C. First-Time New Home Buyers’ Bonus as part of Budget 2012. The bonus will be a temporary one-time refundable income tax credit for first-time home buyers who purchase a newly constructed home, up to a maximum credit of $10,000. For more information, click here.

Grant for New Second and Recreational Homes

On February 17, 2012, BC Minister of Finance Kevin Falcon announced the provincial government’s intention to provide a grant for buyers of newly-constructed secondary vacation or recreational homes outside the Greater Vancouver and Capital Regional districts. For more information, click here.

http://www.bcrea.bc.ca/government-relations/hst-pst-resources