BC First Time Home Buyers’ Program & Assistance Program

The BC provincial government offers a series of incentives designed to support home purchases by first-time home buyers. Here’s a few to get you started:

The First Time Home Buyers’ Program was introduced as a measure to reduce or eliminate the amount of property transfer tax paid by first-time homeowners. For more information, or to find out if you qualify, please visit the link below.

https://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax/exemptions/first-time-home-buyers

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. For more information, or to find out if you qualify, please visit the link below

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html