BC Home Buyer Programs & Grants in 2026
Every provincial and federal incentive available to home buyers in British Columbia. Know what you qualify for, how much you can save, and how each program works — all in one place.
Bottom line (as of 2026): A first-time buyer purchasing an $800,000 home in BC can save up to $17,200 through the PTT exemption alone. Stack the FHSA ($40,000 tax-free savings), the RRSP Home Buyers' Plan ($35,000 per person), and the BC Home Owner Grant ($570/year), and the combined value exceeds $92,000 in savings and tax-advantaged access over your first few years of ownership. Greyden Douglas at Rain City Properties has helped 1,000+ Vancouver buyers claim every dollar they qualify for since 2006.
Written by Greyden Douglas — Vancouver REALTOR®, Medallion Club Member (top 10%)
Rain City Properties · Licensed since 2006 · 1,000+ clients · Updated July 2026
Greyden has helped 1,000+ Vancouver buyers navigate provincial and federal incentive programs since 2006. He holds active membership in GVR, BCFSA, and CREA. Program thresholds and rules change — always verify current eligibility with your lawyer, notary, or the relevant government agency.
How Much Can You Save?
$17,200
PTT Exemption (First-Time Buyer)
On homes up to $835K
$23,000
PTT Exemption (Newly Built)
On new homes up to $1.1M
$75,000
FHSA + HBP (per person)
$40K FHSA + $35K RRSP
$6,300
GST New Housing Rebate
On new homes under $350K
$845/yr
Home Owner Grant (Seniors)
$570/yr regular grant
$150K
FHSA + HBP (couple combined)
$80K FHSA + $70K RRSP
All Programs & Grants Explained
First-Time Buyer PTT Exemption
Save up to $17,200
Full exemption from Property Transfer Tax on qualifying purchases up to $835,000. Partial exemption between $835,000 and $860,000.
Eligibility Requirements
- ✓ Canadian citizen or permanent resident
- ✓ Lived in BC for 12+ consecutive months (or filed 2 BC tax returns in last 6 years)
- ✓ Never owned property anywhere in the world
- ✓ Property must be your principal residence
- ✓ Fair market value $860,000 or less
How to Apply
Claim through your lawyer or notary at the time of property registration. Complete the Property Transfer Tax Return (Form FIN 532) with the first-time buyer exemption section.
Calculate your PTT savings →Newly Built Home PTT Exemption
Save up to $23,000
Full PTT exemption on newly built homes up to $1,100,000. Partial exemption between $1,100,000 and $1,150,000. Available to all buyers, not just first-timers.
Eligibility Requirements
- ✓ Canadian citizen or permanent resident
- ✓ Property is a newly built home (new construction or converted from non-residential)
- ✓ Property must be your principal residence
- ✓ Fair market value $1,150,000 or less
How to Apply
Claimed at closing through your lawyer or notary. You cannot combine this with the first-time buyer exemption on the same property — your lawyer will apply whichever saves you more.
Calculate your PTT savings →First Home Savings Account (FHSA)
$8,000/year, $40,000 lifetime
A registered savings account that combines the best features of an RRSP and TFSA. Contributions are tax-deductible (like an RRSP) and withdrawals for a first home purchase are completely tax-free (like a TFSA).
Eligibility Requirements
- ✓ Canadian resident aged 18-71
- ✓ First-time home buyer (have not owned a home you lived in as your principal place of residence in the current or any of the preceding 4 calendar years)
- ✓ Account must be open for at least 1 year before withdrawal (but the qualifying withdrawal can be in the same year as the purchase)
- ✓ Must close account within 1 year of first qualifying withdrawal
How to Apply
Open an FHSA at any major bank, credit union, or brokerage. Contribute up to $8,000 per year (unused room does not carry forward beyond $8,000). When ready to buy, request a qualifying withdrawal from your FHSA provider.
RRSP Home Buyers' Plan (HBP)
Withdraw up to $35,000 per person ($70,000 combined for couples)
Withdraw up to $35,000 per person (or $70,000 combined for couples) from your RRSP tax-free to buy or build a qualifying home. The withdrawal must be repaid to your RRSP over 15 years, starting the second year after withdrawal.
Eligibility Requirements
- ✓ Canadian resident
- ✓ First-time home buyer (have not owned a home you lived in as your principal place of residence in the current or any of the preceding 4 calendar years)
- ✓ Must have a written agreement to buy or build a qualifying home
- ✓ Must intend to occupy the home as your principal residence within 1 year
- ✓ RRSP funds must have been on deposit for at least 90 days
How to Apply
Complete CRA Form T1036 (Home Buyers' Plan Request to Withdraw Funds from an RRSP). Submit to your RRSP provider, who will release the funds without withholding tax. You must withdraw within 30 days of taking title.
First-Time Home Buyer Incentive (FTHBI) — Cancelled
5% (resale) or 10% (new build)
This program was cancelled by the federal government in March 2024. No new applications are accepted. If you received an incentive before the cancellation, your repayment obligations remain — repay within 25 years or when you sell. Contact CMHC for repayment details.
Eligibility Requirements
- ✓ Program is closed — no new applications accepted as of March 21, 2024
- ✓ Existing recipients: repay within 25 years or upon sale of the property
- ✓ Repayment is based on fair market value at the time of repayment
- ✓ Contact CMHC directly for repayment assistance or questions
How to Apply
This program is no longer accepting applications. It was cancelled by the federal government effective March 21, 2024. If you are an existing recipient with repayment questions, contact CMHC at 1-800-668-2642 or visit cmhc.ca.
BC Home Owner Grant
Up to $570/year (up to $845 for seniors)
An annual grant that reduces property tax on your principal residence. The regular grant is up to $570. Seniors (65+), veterans, and persons with disabilities receive an additional $275 for a total of up to $845.
Eligibility Requirements
- ✓ Canadian citizen or permanent resident
- ✓ Property is your principal residence
- ✓ Assessed property value under $2.15 million (2026 threshold)
- ✓ Grant phases out between $2.15M and $2.325M (regular) or $2.15M and $2.425M (additional)
- ✓ Only one owner per property can claim
How to Apply
Apply annually when you pay your property taxes. Most municipalities include the claim form with your property tax notice. You can also apply online through the BC government's Home Owner Grant portal at gov.bc.ca.
GST/HST New Housing Rebate
Up to $6,300 (federal portion)
A rebate of 36% of the federal GST (5%) paid on a new home, substantially renovated home, or residential rental property. Maximum rebate of $6,300 on homes under $350,000, with a sliding reduction to $0 at $450,000.
Eligibility Requirements
- ✓ Purchased a new or substantially renovated home
- ✓ Home price under $450,000 for any rebate (full rebate under $350,000)
- ✓ Must be your primary residence or a rental property
- ✓ Must file within 2 years of purchase completion
How to Apply
For most new construction purchases, the builder applies the rebate at closing and reduces the purchase price accordingly. If not handled by the builder, file CRA Form GST190 (GST/HST New Housing Rebate Application for Houses Purchased from a Builder) within 2 years.
BC Home Flipping Tax
Up to 20% on profit (declining)
Effective January 1, 2025, a tax of up to 20% on income from selling residential property within 2 years of purchase. The rate is 20% for sales within the first year, declining daily to 0% at 730 days. This is in addition to federal capital gains tax.
Eligibility Requirements
- ✓ Applies to all residential property sales in BC within 2 years of purchase
- ✓ Exemptions: job relocation (60+ km move), divorce/separation, death, serious illness or disability, insolvency, natural disaster, involuntary disposition (expropriation)
- ✓ Tax applies to the profit (sale price minus purchase price and eligible expenses)
- ✓ Reported on your BC income tax return
How to Apply
No application needed — this is a tax, not a program. If you sell within 2 years, the profit is reported on your BC income tax return. If you qualify for an exemption, you declare that on your return with supporting documentation.
Home Buyer Rescission Period
3 business days, 0.25% fee
A mandatory 3 business day cooling-off period after a residential purchase offer is accepted. During this time, you can rescind (cancel) the contract by paying a fee of 0.25% of the purchase price to the seller.
Eligibility Requirements
- ✓ Applies automatically to most residential property purchases in BC
- ✓ Period begins at 11:59 PM on the day the offer is accepted
- ✓ Does not apply to auction sales, court-ordered sales, or properties with active foreclosure
- ✓ Cannot be waived by the buyer or seller
How to Apply
The rescission period is automatic. To exercise it, deliver a written notice of rescission to the seller's agent within the 3 business day window. The 0.25% fee is payable regardless of reason for rescission.
Calculate your rescission fee and deadline →Which Programs Can You Combine?
Most programs stack together. The only restriction is you cannot claim both PTT exemptions on the same property — your lawyer will apply whichever saves you more.
| Program | PTT (FTB) | PTT (New) | FHSA | HBP | FTHBI | HOG | GST Rebate |
|---|---|---|---|---|---|---|---|
| PTT First-Time Buyer Exemption | — | Choose one | Yes | Yes | Yes | Yes | Yes |
| Newly Built Home PTT Exemption | Choose one | — | Yes | Yes | Yes | Yes | Yes |
| First Home Savings Account | Yes | Yes | — | Yes | Yes | Yes | Yes |
| RRSP Home Buyers' Plan | Yes | Yes | Yes | — | Yes | Yes | Yes |
| First-Time Home Buyer Incentive | Yes | Yes | Yes | Yes | — | Yes | Yes |
| BC Home Owner Grant | Yes | Yes | Yes | Yes | Yes | — | Yes |
| GST New Housing Rebate | Yes | Yes | Yes | Yes | Yes | Yes | — |
"Choose one" means you can only use one of the two PTT exemptions per property, whichever is more beneficial.
Real Savings Scenarios
Scenario 1: First-Time Buyer
Resale condo at $750,000
- PTT First-Time Buyer Exemption -$13,000
- FHSA Withdrawal (tax-free) $40,000
- RRSP HBP Withdrawal $35,000
- BC Home Owner Grant (Year 1) -$570
- Total tax savings + accessible funds $88,570
Scenario 2: First-Time Buyer (Couple)
New-build townhouse at $1,050,000
- Newly Built Home PTT Exemption -$22,000
- FHSA Withdrawals (x2) $80,000
- RRSP HBP Withdrawals (x2) $70,000
- BC Home Owner Grant (Year 1) -$570
- Total tax savings + accessible funds $172,570
The federal FTHBI shared equity program was cancelled in March 2024 and is no longer available.
Scenario 3: Repeat Buyer
New-build home at $1,000,000
- Newly Built Home PTT Exemption -$18,000
- GST New Housing Rebate N/A*
- BC Home Owner Grant (Year 1) -$570
- Total direct tax savings $18,570
*GST rebate not available on homes over $450K. Repeat buyers cannot use FHSA, HBP, FTHBI, or first-time PTT exemption.
Scenario 4: Senior Downsizing
Resale condo at $650,000
- Standard PTT $11,000
- BC Home Owner Grant (senior) -$845/yr
- No flipping tax (if held 2+ years) $0
- Annual property tax savings $845/yr
Seniors cannot use first-time buyer programs unless they haven't owned a home in 4+ years.
Quick Eligibility Checker
Answer these questions to see which programs you likely qualify for. This is a general guide — confirm eligibility with your realtor, lawyer, or mortgage broker.
Are you a Canadian citizen or permanent resident?
Yes
You may qualify for: PTT exemptions, FHSA, HBP, BC Home Owner Grant, GST Rebate
No
You do not qualify for PTT exemptions, FHSA, HBP, or FTHBI. See our International Buyers Guide.
Have you owned a home (anywhere) that you lived in during the past 4 years?
Yes (repeat buyer)
You can still access: Newly Built Home PTT Exemption (new builds), BC Home Owner Grant, GST Rebate (new builds), Rescission Period protection
No (first-time buyer)
You qualify for all first-time buyer programs plus everything available to repeat buyers
Is the property a new build or resale?
New Construction
Additional programs: Newly Built Home PTT Exemption (up to $1.1M), GST New Housing Rebate. Note: 5% GST is included in the purchase price of new builds.
Resale Home
You can still use: First-Time Buyer PTT Exemption (up to $835K), FHSA, HBP, BC Home Owner Grant. No GST applies to resale homes.
What is the purchase price?
Under $350,000
Full GST rebate on new builds ($6,300 max). Full PTT first-time buyer exemption. All federal programs available.
$350,000 – $450,000
Partial GST rebate on new builds. Full PTT first-time buyer exemption. All federal programs available.
$450,000 – $835,000
No GST rebate. Full PTT first-time buyer exemption. All federal programs available.
$835,000 – $860,000
Partial PTT first-time buyer exemption. Newly Built Home PTT Exemption if new build.
$860,000 – $1,100,000
No first-time buyer PTT exemption. Full Newly Built Home PTT Exemption if new build (up to $1.1M).
Over $1,150,000
No PTT exemptions available. Standard PTT applies. FHSA, HBP, and Home Owner Grant still available.
Key Deadlines & Timelines
RRSP 90-Day Rule
Funds must be in your RRSP for at least 90 days before you can withdraw them under the Home Buyers' Plan. Plan your contributions accordingly.
FHSA Minimum Hold Period
Your FHSA must be open for at least one calendar year before you can make a qualifying withdrawal. Open your account as soon as possible, even with a small initial deposit.
HBP Repayment Schedule
You have 15 years to repay your RRSP withdrawal, starting the second year after the year of withdrawal. If you withdrew $35,000, repay at least $2,333 per year to avoid it being added to your taxable income.
FTHBI Repayment Deadline (Existing Recipients Only)
The FTHBI was cancelled in March 2024 — no new applications. If you received the incentive before the cancellation, your shared equity mortgage must be repaid after 25 years or when you sell the home, whichever comes first. Repayment is based on fair market value at the time.
Flipping Tax Window
The BC Home Flipping Tax applies at 20% on profits from properties sold within 1 year, declining daily to 0% after 2 years. If possible, hold for at least 2 years to avoid this tax entirely.
Rescission Period
You have 3 business days after your offer is accepted to rescind without penalty beyond the 0.25% fee. Use this time to consult with your mortgage broker, lawyer, and family before committing.
Calculators & Related Guides
PTT Calculator
Calculate your property transfer tax and exemptions
Closing Costs Guide
Full breakdown of buying costs in Vancouver
Mortgage Calculator
Estimate your monthly mortgage payments
Buyer's Guide
Step-by-step process for buying in Vancouver
Rescission Calculator
Calculate your cooling-off deadline and fee
Rent vs Buy Calculator
Compare the long-term cost of renting vs buying
Frequently Asked Questions
What programs are available for first-time home buyers in BC in 2026?
First-time buyers in BC can access several programs: the Property Transfer Tax First-Time Home Buyers Exemption (saving up to $17,200 on homes up to $835,000), the First Home Savings Account ($8,000/year tax-deductible contributions up to $40,000), the RRSP Home Buyers' Plan ($35,000 per person tax-free withdrawal), and the GST/HST New Housing Rebate on new construction. These programs can be combined for maximum savings.
Can I combine the FHSA and RRSP Home Buyers' Plan?
Yes. Since 2023 you can use both programs simultaneously. This means a couple could access up to $150,000 in tax-advantaged funds: $35,000 each from their RRSPs via the Home Buyers' Plan, plus $40,000 each from their FHSAs. The FHSA withdrawals are completely tax-free, while HBP withdrawals must be repaid over 15 years.
What is the PTT first-time buyer exemption threshold in 2026?
As of April 1, 2024, first-time buyers receive a full Property Transfer Tax exemption on properties up to $835,000, saving up to $17,200 in PTT. A partial exemption applies on properties between $835,000 and $860,000. You must be a Canadian citizen or permanent resident, have lived in BC for at least 12 consecutive months before the registration date (or have filed 2 income tax returns as a BC resident in the last 6 years), and never have owned property anywhere in the world.
How does the First-Time Home Buyer Incentive (FTHBI) work?
The federal First-Time Home Buyer Incentive (FTHBI) was cancelled in March 2024 and is no longer available to new applicants. If you applied before the program closed, repayment rules still apply. For current first-time buyer programs in 2026, see the FHSA (First Home Savings Account) and RRSP Home Buyers' Plan.
What is the BC Home Owner Grant and who qualifies?
The BC Home Owner Grant reduces the amount of property tax you pay on your principal residence. The regular grant is up to $570 per year. Seniors (65+), veterans, and persons with disabilities can receive an additional grant of up to $275 for a total of $845. To qualify, the property must be your principal residence, and the assessed value must be under $2.15 million for 2026. The grant phases out gradually for properties assessed above this threshold.
How much can I save with the GST New Housing Rebate?
For new homes priced under $350,000, you can receive a 36% rebate on the federal GST portion (5%), up to a maximum of $6,300. The rebate is gradually reduced for homes between $350,000 and $450,000, reaching zero at $450,000. BC also offers a provincial rebate of 71.43% of the provincial portion of HST (though BC currently has GST, not HST). For new homes, the builder typically applies the rebate at closing, reducing your purchase price.
What is the BC Home Flipping Tax?
Effective January 1, 2025, BC's home flipping tax applies a 20% tax on income from properties sold within one year of purchase. The tax rate declines on a daily basis to 0% at 730 days (2 years). Exemptions include job relocation (60+ km), divorce or separation, death, disability, insolvency, and involuntary loss (such as expropriation). The tax applies to the profit, not the full sale price, and is reported on your income tax return.
How does the Home Buyer Rescission Period work in BC?
Since January 3, 2023, buyers of residential property in BC have a 3 business day rescission (cooling-off) period after an accepted offer. During this period, you can withdraw from the purchase by paying a rescission fee of 0.25% of the purchase price (e.g., $2,500 on a $1,000,000 property). The period begins at 11:59 PM on the day the offer is accepted. It applies to most residential purchases including condos, townhouses, and detached homes, but not to auction sales or properties sold through court order.
Do I qualify for the Newly Built Home PTT Exemption?
The Newly Built Home Exemption provides a full PTT exemption on qualifying new homes up to $1,100,000, with a partial exemption for homes between $1,100,000 and $1,150,000. Unlike the first-time buyer exemption, you do not need to be a first-time buyer — but you must be a Canadian citizen or permanent resident, and the home must be your principal residence. This exemption can save up to $23,000 in property transfer tax.
What happens if I don't repay my RRSP Home Buyers' Plan withdrawal?
You must repay the withdrawal over 15 years, starting the second year after the withdrawal. The minimum annual repayment is 1/15 of the total withdrawn. If you miss a repayment, the amount you should have repaid is added to your taxable income for that year. For example, if you withdrew $35,000, your minimum annual repayment is $2,333. If you skip a payment, $2,333 is added to your taxable income and taxed at your marginal rate.
Maximize Your Savings as a BC Home Buyer
With 20+ years of experience helping buyers in Vancouver, our team can guide you through every program, exemption, and incentive. We'll make sure you don't leave money on the table.