Your Journey Starts Here
Buying your first home in BC doesn't have to be overwhelming. I'll walk you through every step and help you save thousands with the right programs.
The Roadmap
From dream to keys in hand — here's exactly what to expect when buying your first home in BC.
Know exactly how much you can afford before you start looking. A pre-approval locks in your rate for up to 120 days and shows sellers you're serious.
Work with your realtor to find the perfect property. Knowing your budget up front means you'll only look at homes within your range — no heartbreak.
Your realtor will submit an offer with subjects (conditions) including financing, home inspection, and title review. I'll confirm your financing is solid.
I shop your file to 40+ lenders to secure the best rate and terms. You'll review and sign your mortgage commitment — no surprises, just savings.
Your lawyer handles title transfer, property tax adjustments, and all legal paperwork. You'll sign the final documents and prepare your down payment wire.
Completion day! The funds transfer, the title is registered in your name, and you pick up the keys. Welcome home — you did it!
Save Thousands
You could qualify for tens of thousands in savings. Here are the programs every first-time buyer in BC should know about.
First-time buyers are exempt from the Property Transfer Tax on homes up to $835,000. That's a savings of up to $17,000. Partial exemptions apply on homes up to $860,000.
Savings: Up to $17,000
Contribute up to $8,000/year (lifetime max $40,000) to a tax-free savings account designed for your first home. Contributions are tax-deductible AND withdrawals are tax-free.
Tax-free in, tax-free out
Withdraw up to $60,000 from your RRSP tax-free to buy your first home. Repay over 15 years. Couples can each withdraw $60,000 for a combined $120,000.
Up to $120,000 per couple
Buying a brand-new home? You may qualify for a GST rebate of up to $6,300 (federal) plus a BC provincial rebate. This applies to new builds and substantially renovated homes under $450K.
New construction savings
Affordability
Your affordability depends on your income, debts, down payment, and current interest rates. As a general rule:
Most lenders allow a maximum of 39% of your gross income for housing costs (GDS ratio)
Total debt payments shouldn't exceed 44% of your gross income (TDS ratio)
A household earning $100K can typically afford a home in the $500K-$600K range
$25,000 on a $500K home
5% on first $500K + 10% on the remainder
$200,000 on a $1M home — no CMHC insurance
A pre-approval tells you exactly what you can afford, locks in today's rate, and shows sellers you're a serious buyer. There's no cost and no obligation.
No credit check required for an initial estimate. Full pre-approval involves a soft credit pull.
Common Questions