Written by Jared Gibbons, REALTOR®
I have been a licensed REALTOR® since 2015 with Royal LePage Little Oak Realty, with more than $500M in sales and 10 straight years in the FVREB Medallion Club (Top 1% of all Realtors in the Fraser Valley). I ranked #1 in South Surrey/White Rock by MLS® points for 2025 and 2026 year-to-date, #1 Individual Agent in South Surrey, #8 of 5,061 Fraser Valley Realtors, Top 35 Under 35 at Royal LePage Canada, and Top 10 at Royal LePage British Columbia. I grew up on a farm in Langley and I'm back living here now. Call or text 604-928-1361 or send me a message.
First-Time Buyer Calculator BC — Frequently Asked Questions
What is the BC First-Time Home Buyers' Property Transfer Tax (PTT) threshold in 2026?
Qualifying first-time buyers in BC receive a full Property Transfer Tax exemption on the first $500,000 of a principal residence with a fair market value up to $835,000 (saving up to $8,000), and a partial sliding-scale exemption between $835,000 and $860,000. See our First-Time Home Buyer Program BC Guide for eligibility rules.
How much PTT does a first-time buyer pay on a $750,000 home in BC?
On a $750,000 resale home, regular BC Property Transfer Tax is $13,000 (1% on the first $200,000 plus 2% on the remaining $550,000). With the first-time buyer exemption covering the first $500,000 ($8,000 saved), a qualifying first-time buyer pays $5,000.
How does the Newly Built Home PTT Exemption differ from the First-Time Buyer Exemption?
The BC Newly Built Home Exemption applies to qualifying brand-new homes or presale condos priced up to $1,100,000 (with a partial exemption between $1,100,000 and $1,150,000) for any buyer moving in as their principal residence, even if you have owned a home before.
Can first-time buyers combine the First Home Savings Account (FHSA) and Home Buyers' Plan (HBP)?
Yes. Qualifying first-time buyers can combine tax-free FHSA withdrawals (up to $8,000 per year in contribution room, $40,000 lifetime limit plus investment growth) with up to $60,000 per person from an RRSP under the federal Home Buyers' Plan toward the same home purchase.
How does the First-Time Buyer GST Rebate work on new homes in BC?
Under the federal first-time buyer GST rebate rules for qualifying new construction, eligible first-time buyers can save up to $50,000 (100% of the 5% GST on new homes up to $1,000,000, phasing out between $1,000,000 and $1,500,000). Read our full First-Time Buyer GST Rebate BC Guide.
What happens if only one spouse on title is a first-time home buyer?
If two buyers purchase together and only one qualifies as a first-time buyer, the BC Property Transfer Tax exemption is prorated by the qualifying buyer's registered percentage ownership on title (for example, 50% of the exemption on a 50/50 ownership split).
What occupancy rules must I meet to keep my BC first-time buyer PTT exemption?
For an existing resale home, you must move in within 92 days of the registration date and occupy the property as your principal residence for the remainder of the first full year, or a prorated portion of the tax exemption will be clawed back.
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