First-time home buyer in BC: the programs that exist in 2026

BC first-time buyers: the property transfer tax exemption up to $835,000, the $60,000 Home Buyers' Plan, the FHSA and the GST rebate on new homes.

Last checked November 8, 2026. Every rule below names its source; the official pages are listed at the end with their own dates.

In short

BC's First Time Home Buyers' Program exempts the tax on the first $500,000 for homes up to $835,000, with a partial exemption below $860,000.
Federal help: the RRSP Home Buyers' Plan (up to $60,000), the FHSA ($8,000 a year, $40,000 in total) and, for new homes, a GST/HST rebate of up to $50,000.
The federal First-Time Home Buyer Incentive closed to new applications on March 21, 2024.

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The programs at a glance

Program	What it gives	Key limit
BC First Time Home Buyers' Program	No property transfer tax on the first $500,000 (a saving of up to $8,000)	Full exemption up to $835,000; partial up to $860,000 (since April 1, 2024)
BC Newly Built Home Exemption	Property transfer tax exemption on a new home	Full up to $1,100,000; partial up to $1,150,000
RRSP Home Buyers' Plan	Withdraw from your RRSP tax-free, repay over 15 years	$60,000 per person
First Home Savings Account (FHSA)	Save for a first home	$8,000 a year, $40,000 lifetime
First-time home buyers' GST/HST rebate	Up to $50,000 back on a new home	Full up to $1 million, none from $1.5 million
Insured mortgages	30-year amortization for first-time buyers (since December 15, 2024)	Price below $1.5 million

BC property transfer tax exemption: who qualifies

Canadian citizen or permanent resident.
Lived in BC for at least a year right before registering the home, or filed at least 2 income tax returns as a BC resident in the last 6 years.
Never owned a registered interest in a property that was your principal residence, anywhere.
Move in within 92 days of registration and live there as your principal residence until the first anniversary.

Live data: the tax on each city's average price (12 months to September 2026)

Place	Average price	Tax at that price	First-time buyers' exemption	First-time buyers' share
Vancouver	$1,408,413	$26,168	none	17%
Surrey	$912,896	$16,258	none	20%
Burnaby	$1,005,394	$18,108	none	24%
Richmond	$1,019,790	$18,396	none	20%
Victoria	$882,483	$15,650	none	25%
Kelowna	$881,574	$15,631	none	19%
Kamloops	$656,845	$11,137	$8,000	31%
Nanaimo	$730,254	$12,605	$8,000	26%
Prince George	$474,774	$7,495	$7,495	38%

The average price of all homes sold, used as an example price; the tax is worked out from the rates on this page. A real home's price can be very different.

Source: Province of British Columbia, Property Transfer Tax data (OGL-BC), 12 months to September 2026. Data updated November 08, 2026.

All 168 BC cities and towns

Federal programs

The RRSP Home Buyers Plan lets you withdraw up to $60,000; the FHSA lets you save up to $40,000. The CRA allows withdrawals from both for the same qualifying home.

The GST/HST rebate for first-time buyers became law on March 12, 2026. It refunds 100% of the GST (or the federal part of the HST), up to $50,000, on a new home of up to $1 million, less between $1 million and $1.5 million, and nothing from $1.5 million. The builder agreement must be signed on or after March 20, 2025 and before 2031, construction must start before 2031, and the home must be your primary residence.

The First-Time Home Buyer Incentive (CMHC's shared-equity mortgage) stopped taking applications on March 21, 2024.

Down payment and mortgage

With less than 20% down, the mortgage must be insured, and the home must cost less than $1.5 million. Our down payment guide has the minimums and the insurance premiums; the mortgage calculator works them out for any price.

Questions

Is the First-Time Home Buyer Incentive still available?

No. CMHC stopped accepting applications on March 21, 2024.

What is the first-time buyer property transfer tax exemption in BC?

No tax on the first $500,000 of the price for homes worth $835,000 or less, and a partial exemption up to $860,000 (since April 1, 2024).

Can I use the Home Buyers' Plan and the FHSA together?

Yes, the CRA allows withdrawals from both for the same qualifying home.

Who counts as a first-time buyer for the BC exemption?

Someone who has never owned a registered interest in a property that was their principal residence, anywhere in the world, and meets the citizenship and BC residency rules.

Sources

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Last checked November 8, 2026. General information only - not financial, legal, tax or real estate advice. Rules change: confirm with the official source or a licensed professional before you act.