This poll was conducted by the Fraser Valley Real Estate Board on all members who had sold a house during the first two weeks of each month.

* A decrease in 1st time buyers – from 34% in April to 27% in May.

* An increase in mortgage-free buyers from 12.5% in April to 22.2 % in May.

* Increase in single female buyers – from 7.2% in April to 17.5% in May.

* 10% decrease in people moving within the same community, and an increase in people moving to the Fraser Valley within BC (+4.5%) and the rest of Canada (+3.4%).

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The government of Canada has just recently increased the withdrawal from RRSPs for the first time buyer.  They can now withdraw $25,000 (up from $20,000) with 15 years to repay.

Your child is getting married and you want to help out financially.  What is the best way to do this? 

Here are a few options:

GIFT:  You could give your child an outright gift.  The advantage to them is that any gift given while you are living is tax free.  If given after your death, the gift is subject to probate.

If you do not care about protecting this money,  then an outright gift would be fine.  Should your child and spouse separate, the spouse would get half of your gift in settlement.

2nd MORTGAGE: By being on title, you protect this money from being lost in a separation.  One disadvantage is that any gains on your part are subject to capital gains tax.  Another disadvantage for the couple is that they would need your signature in order to sell that home. 

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