Sparrow offers a distinct collection of intelligently designed 1 & 2 bedroom homes in Victoria's vibrant Oaklands Neighbourhood, minutes from the city’s most charismatic places and experiences. Fusing stylish urban form and function with exceptional quality, you’ll be proud to call Sparrow home. Coming summer 2020.
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The proposal includes two live-work residences.
That is the maximum in household income, not that that's the income required.
As someone who had to put down 27.5% to qualify as a self-employed individual, an opportunity to put down 5% would have meant I could have bought a home years sooner. Rules are different for self-employed people and those who earn a salary at a private or public organization, but if this helps someone earning $70k a year buy their first home several years faster, that's ultimately a good thing.
Typically, these programs limit the sale price by qualifying income. By setting the income so high, with such a small unit, the discount will likely default to the BC Housing minimum of 5-10%
Can you speak to how the maximums are set? $163,000 is a decent household income.
It certainly is decent. Interesting times we've reached where families with up to 163 000 income are even considering small 571 sqft condos.
Sparrow condominium dev launching second phase of sales with BC Housing-backed first-time buyer incentives
Abstract Development's latest offering, the 49-suite Sparrow on Cook Street at Hillside Avenue, launches its second sales release this weekend.
Victoria council approves affordable condo and rental devs, but sends Northern Junk project back to drawing board
Over 200-units of housing were approved by the City as Northern Junk proposal enters second decade of planning.
50-unit condo eyed for Cook Street at Hillside Avenue earmarked for a 16-unit affordable homeownership component.