Jasmine Wallington : Blog : Latest Blog Posts

First Time Home Buyer Grants and Rebates in BC, Complete 2026 Guide

Tue, 03 Mar 2026 21:55:14 GMT

If you are a first time home buyer in BC, you may qualify for thousands of dollars in grants, rebates, and tax incentives.

Many buyers are unaware that federal and provincial programs can significantly reduce closing costs, lower taxes, and increase purchasing power.

This guide explains the most important first time home buyer incentives in British Columbia and how to use them strategically.

BC Property Transfer Tax Exemption for First Time Buyers

One of the largest closing costs in British Columbia is Property Transfer Tax, often called PTT.

The
BC First Time Home Buyers' Program
allows eligible buyers to reduce or eliminate this tax.

How much can you save

• Full exemption on homes up to 500,000 dollars
• Partial exemption up to approximately 860,000 dollars
• Savings can range from several thousand to over ten thousand dollars

If your purchase price exceeds the threshold, the exemption no longer applies. Planning your price range carefully can make a major difference.

First Home Savings Account Canada, FHSA Explained

The
First Home Savings Account
is one of the most powerful savings tools available for first time home buyers in BC.

Key benefits

• Contribute up to 40,000 dollars lifetime
• Contributions are tax deductible
• Withdrawals for your first home are tax free

This account combines the advantages of an RRSP and a TFSA, making it ideal for buyers planning ahead.

Home Buyers Plan BC, Using Your RRSP for a Down Payment

The
Home Buyers' Plan
allows you to withdraw up to 60,000 dollars from your RRSP to put toward your down payment.

Couples can access up to 120,000 dollars combined.

You repay the amount over time, but there is no immediate tax penalty when structured properly.

This strategy can dramatically increase your available down payment.

First Time Home Buyers Tax Credit Canada

The
First-Time Home Buyers' Tax Credit
provides up to a 10,000 dollar federal tax credit.

This can reduce your income taxes by approximately 1,500 dollars in the year you purchase your home.

While this does not reduce closing costs, it does provide meaningful financial relief after purchase.

GST Rebate on New Homes in BC

If you are buying new construction, GST at 5 percent applies.

The
GST New Housing Rebate
may allow you to recover part of the GST paid, depending on the purchase price.

This is an important factor when comparing new homes versus resale properties.

BC Newly Built Home Exemption

In addition to federal programs, the
Newly Built Home Exemption
may reduce or eliminate Property Transfer Tax on qualifying new homes.

This exemption applies at higher price thresholds than the first time buyer PTT exemption, making it especially relevant in markets like Vancouver and the Fraser Valley.

BC Home Owner Grant, Reducing Annual Property Taxes

After purchasing, the
BC Home Owner Grant
helps reduce annual property taxes for eligible homeowners.

While not exclusive to first time buyers, it reduces your ongoing ownership costs.

How to Combine First Time Home Buyer Programs in BC

The biggest financial advantage comes from combining incentives.

Example strategy:

• Save through the First Home Savings Account
• Use the Home Buyers Plan for additional down payment funds
• Reduce closing costs with the Property Transfer Tax exemption
• Claim the First Time Home Buyers Tax Credit on your income taxes

When structured properly, these programs can save buyers tens of thousands of dollars.

Final Advice for First Time Home Buyers in BC

If you are considering buying within the next one to three years, preparation is critical.

Ask yourself:

• Do I qualify for the BC Property Transfer Tax exemption
• Should I open a First Home Savings Account now
• How much can I withdraw through my RRSP
• Is new construction or resale better financially

Understanding BC home buyer grants and incentives before you shop gives you a competitive edge.

If you would like a personalized breakdown of how these programs apply to your budget and target price range, contact me directly. I would be happy to walk you through your options.

I have sold a property at 45 18883 65 Avenue in Surrey

Thu, 13 Nov 2025 09:16:03 GMT

I have sold a property at 45 18883 65 Avenue in Surrey on Oct 27, 2025. See details here

Welcome to “APPLEWOOD,” one of Cloverdale’s most desirable townhome communities! This beautifully maintained 3-bed, 2-bath home impresses with a bright open kitchen featuring an island, a spacious primary suite with ensuite and walk-in closet, plus tasteful updates throughout, including custom millwork, pot lights, new carpeting, updated vinyl flooring throughout, and a brand new hot water tank. Enjoy your private, west-facing fenced yard with a lovely lush garden space, perfect for kids, pets, and summer BBQs! Located in a fantastic family-friendly neighbourhood near schools, parks, and amenities, just a five-minute walk to Hillcrest Elementary School, with three parking spots (one covered) for added convenience.

Open House. Open House on Thursday, October 23, 2025 5:00PM - 7:00PM

Wed, 22 Oct 2025 09:16:54 GMT

Please visit our Open House at 45 18883 65 Avenue in Surrey. See details here

Open House on Thursday, October 23, 2025 5:00PM - 7:00PM

Open House. Open House on Friday, October 24, 2025 6:00PM - 8:00PM

Wed, 22 Oct 2025 09:16:54 GMT

Please visit our Open House at 45 18883 65 Avenue in Surrey. See details here

Open House on Friday, October 24, 2025 6:00PM - 8:00PM

New property listed in Cloverdale BC, Cloverdale

Tue, 21 Oct 2025 09:19:48 GMT

I have listed a new property at 45 18883 65 Avenue in Surrey. See details here

Open House. Open House on Saturday, October 25, 2025 2:00PM - 4:00PM

Tue, 21 Oct 2025 09:19:48 GMT

Please visit our Open House at 45 18883 65 Avenue in Surrey. See details here

Open House on Saturday, October 25, 2025 2:00PM - 4:00PM

Open House. Open House on Sunday, October 26, 2025 2:00PM - 4:00PM

Tue, 21 Oct 2025 09:19:48 GMT

Please visit our Open House at 45 18883 65 Avenue in Surrey. See details here

Open House on Sunday, October 26, 2025 2:00PM - 4:00PM

Open House. Open House on Saturday, July 26, 2025 1:00PM - 3:00PM

Fri, 25 Jul 2025 09:15:07 GMT

Please visit our Open House at 2606 13350 Central Avenue in Surrey. See details here

Open House on Saturday, July 26, 2025 1:00PM - 3:00PM

Welcome to One Central, Surrey’s tallest residential tower located in the heart of the city! This sleek 2 beds, 1 bath home offers 500 sq ft of thoughtfully designed living space with stunning mountain and city views. The modern kitchen features premium European appliances, quartz countertops, and custom cabinetry. Enjoy floor-to-ceiling Low-E windows with custom roller blinds, a stylish bathroom with floating vanity and frameless glass shower, and in-suite Blomberg washer/dryer. Steps to SFU, Surrey Central SkyTrain, shopping, restaurants, and more. Ideal for first-time buyers or investors!

I have sold a property at 32 7488 Mulberry Place in Burnaby

Tue, 22 Jul 2025 09:15:40 GMT

I have sold a property at 32 7488 Mulberry Place in Burnaby on Jul 14, 2025. See details here

Welcome to this beautifully renovated 4-bedroom, 3-bathroom townhome located in the heart of East Burnaby. The stylish new kitchen boasts stainless steel appliances, a sleek under-mount sink, stone countertops, & a generous breakfast bar that comfortably seats four—perfect for casual dining & entertaining. Upstairs, the spacious master suite features soaring vaulted ceilings, creating a bright and airy retreat. Downstairs offers a versatile rec room that opens to a private fenced yard & patio, ideal for families or hosting guests. This well-maintained complex backs onto the lush greenbelt of Robert Burnaby Park, with scenic trails & easy access to Burnaby Lake. Just minutes from the City of Lougheed Shopping Centre and Hwy 1, this home offers the perfect blend of tranquility & convenience.

New property listed in Whalley, North Surrey

Tue, 22 Jul 2025 09:15:40 GMT

I have listed a new property at 2606 13350 Central Avenue in Surrey. See details here

Open House. Open House on Sunday, July 27, 2025 2:00PM - 4:00PM

Tue, 22 Jul 2025 09:15:40 GMT

Please visit our Open House at 2606 13350 Central Avenue in Surrey. See details here

Open House on Sunday, July 27, 2025 2:00PM - 4:00PM

Open House. Open House on Saturday, July 12, 2025 1:00PM - 2:30PM

Fri, 11 Jul 2025 09:14:57 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, July 12, 2025 1:00PM - 2:30PM

Open House. Open House on Sunday, July 13, 2025 1:00PM - 2:30PM

Fri, 11 Jul 2025 09:14:57 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, July 13, 2025 1:00PM - 2:30PM

Open House. Open House on Saturday, July 5, 2025 2:00PM - 3:30PM

Sat, 05 Jul 2025 09:15:08 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, July 5, 2025 2:00PM - 3:30PM

Open House. Open House on Sunday, July 6, 2025 2:00PM - 3:30PM

Sat, 05 Jul 2025 09:15:08 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, July 6, 2025 2:00PM - 3:30PM

Open House. Open House on Saturday, May 31, 2025 1:30PM - 3:30PM

Wed, 28 May 2025 09:13:30 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, May 31, 2025 1:30PM - 3:30PM

Open House. Open House on Saturday, May 17, 2025 2:00PM - 4:00PM

Thu, 15 May 2025 09:13:05 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, May 17, 2025 2:00PM - 4:00PM

Open House. Open House on Sunday, May 18, 2025 2:00PM - 4:00PM

Thu, 15 May 2025 09:13:05 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, May 18, 2025 2:00PM - 4:00PM

Open House. Open House on Saturday, May 10, 2025 1:00PM - 2:30PM

Thu, 08 May 2025 09:12:35 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, May 10, 2025 1:00PM - 2:30PM

Open House. Open House on Sunday, May 11, 2025 3:30PM - 5:00PM

Wed, 07 May 2025 09:12:42 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, May 11, 2025 3:30PM - 5:00PM

Open House. Open House on Sunday, May 4, 2025 3:30PM - 5:00PM

Wed, 30 Apr 2025 09:12:29 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, May 4, 2025 3:30PM - 5:00PM

Open House. Open House on Saturday, April 26, 2025 2:00PM - 4:00PM

Fri, 25 Apr 2025 09:12:01 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, April 26, 2025 2:00PM - 4:00PM

Open House. Open House on Sunday, April 27, 2025 2:00PM - 4:00PM

Fri, 25 Apr 2025 09:12:01 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, April 27, 2025 2:00PM - 4:00PM

New property listed in The Crest, Burnaby East

Tue, 15 Apr 2025 09:13:49 GMT

I have listed a new property at 32 7488 Mulberry Place in Burnaby. See details here

Welcome to this beautifully renovated 3-bedroom, 3-bathroom townhome located in the heart of East Burnaby. The stylish new kitchen boasts stainless steel appliances, a sleek under-mount sink, stone countertops, & a generous breakfast bar that comfortably seats four—perfect for casual dining & entertaining. Upstairs, the spacious master suite features soaring vaulted ceilings, creating a bright and airy retreat. Downstairs offers a versatile rec room that opens to a private fenced yard & patio, ideal for families or hosting guests. This well-maintained complex backs onto the lush greenbelt of Robert Burnaby Park, with scenic trails & easy access to Burnaby Lake. Just minutes from the City of Lougheed Shopping Centre and Hwy 1, this home offers the perfect blend of tranquility & convenience.

Open House. Open House on Saturday, April 19, 2025 2:00PM - 4:00PM

Tue, 15 Apr 2025 09:13:49 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Saturday, April 19, 2025 2:00PM - 4:00PM

Open House. Open House on Sunday, April 20, 2025 2:00PM - 4:00PM

Tue, 15 Apr 2025 09:13:49 GMT

Please visit our Open House at 32 7488 Mulberry Place in Burnaby. See details here

Open House on Sunday, April 20, 2025 2:00PM - 4:00PM

I have sold a property at 406 15188 29A AVE in Surrey

Sat, 08 Mar 2025 09:05:23 GMT

I have sold a property at 406 15188 29A AVE in Surrey on Jun 11, 2017. See details here

Property is sold

I have sold a property at 15 340 GINGER DR in New Westminster

Sat, 08 Mar 2025 09:05:23 GMT

I have sold a property at 15 340 GINGER DR in New Westminster on Apr 27, 2017. See details here

UPDATED TWO LEVEL TOWNHOME! I am pleased to bring you this affordable updated gem. The home features updated throughout. The open style kitchen has been made over with new cabinets, stone counters and floors. The large and bright living and dining room have been painted and open to a private yard. Main level also has a den that's perfect for office or storage. Other storage in unit as well. Comes with 1 parking and a great central location. Property has ACCEPTED OFFER

Welcome to the Real Estate Blog

Fri, 07 Mar 2025 18:37:06 GMT

Welcome to our Real Estate Blog! Here you can find timely updates of my latest properties, open houses, just solds and much more.

Whether you are interested in buying or selling real estate, I am here to help guide you every step of the way.

If you have any questions about real estate from home evaluations to mortgages to searching for properties in your area, don't hesitate to contact me today!