Below are popular home buyer incentives, rebates and programs for home buyers and first time buyers in BC Canada.
Qualifying first-time home buyers will save the Property Transfer Tax (PTT) which is a BC tax on home purchases and transfers. View Details of the First-Time Home Buyer Program.
Qualifying home buyers will save the Property Transfer Tax (PTT) which is a BC tax on home purchases and transfers. View Details of the Newly Built Home Exemption.
The First-Time Homebuyer Incentive is an equity share program which helps buyers pay for their first home and reduce their monthly mortgage payments. View CMHC First-Time Homebuyer Incentive details.
This program is intended to help first-time buyers with the costs associated with buying a home. Qualifying buyers can claim up to $5,000 on their income tax which can create a tax savings of up to $750. View details.
Qualifying first-time buyers can contribute up to $8,000 yearly to a maximum of $40,000 towards a downpayment. Contributions are tax deductible and also the capital gains (earnings) and interest are tax-free. This can be used in conjunction with the Home Buyers’ Plan. View details.
Allows you to withdraw up to $35,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home for yourself or a related person with a disability. The withdrawn RRSP funds must be repaid within 15 years. View details.
You may qualify for a portion of the GST or HST paid on a qualifying home purchase, substantial renovation or new home build. View details.
Reduces the annual property taxes for home owners with an assessed or partitioned value up to $2.125 million. This grant is reduced by $5 for each $1,000 above the threshold. The home owner grant threshold applies across the province. View details.
Property Tax Deferment Program for Seniors: qualifying home owners aged 55+ can defer property taxes.
Financial Hardship Property Tax Deferment Program: qualifying low-income home owners can defer property taxes.
Property Tax Deferment Program for Families with Children: qualifying home owners who financially support children under age 18 can defer property taxes.
Buying, building or renovating a green home? You may qualify for CMHC rebate on your CMHC mortgage loan insurance premium on qualifying energy-efficient homes. View details.
Government programs can change over time. For the most up-to-date information, please visit:
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"Lori completely understood my needs and her no-pressure sales approach was refreshing. When I finally made the decision to purchase, Lori was the first call I made." Sheryl T.
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"Alan and Lori really kicked into high gear and they completely outshone all other REALTORS®! Not only were we truly impressed with how hard they worked, how knowledgeable and thorough they were, how highly they held our interests, and how professionally they conducted themselves through every aspect and every moment of both transactions, they also impressed the socks off the other realtors involved!" Mike & Scott
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