First-Time Home Buyers in BC: What to Know Before You Get Started
Buying your first home is an exciting milestone, but it can also feel overwhelming if you’re not sure where to start. Many first-time buyers in British Columbia begin by learning about financing, understanding the steps involved, and becoming familiar with the programs that may be available to them.
One of the first steps is understanding your budget and financing options. This often includes reviewing savings, income, and potential monthly payments. Many buyers choose to speak with a mortgage professional early in the process to explore pre-approval options, which can help provide a clearer picture of affordability before beginning the home search.
There are also government programs available that may help eligible first-time buyers with certain costs associated with purchasing a home.
For example, the Province of British Columbia offers a First-Time Home Buyers’ Program, which may provide a full or partial exemption from property transfer tax for qualifying buyers, depending on eligibility and the property involved. More information about eligibility requirements and thresholds can be found directly through the Government of British Columbia.
At the federal level, the Home Buyers’ Plan allows eligible buyers to withdraw funds from their Registered Retirement Savings Plan (RRSP) to help purchase or build a qualifying home. As of 2026, eligible buyers may withdraw up to $60,000, with repayment typically spread over a period of up to 15 years. Details about eligibility and repayment requirements are available through the Canada Revenue Agency.
For buyers purchasing a new or substantially renovated home, the federal First-time home buyers’ GST/HST rebatemay also help reduce the amount of tax paid, depending on eligibility and the value of the property. Information about this program can be found through the Government of Canada.
In addition to the purchase price, it’s also helpful for buyers to understand the other costs that may be involved. These can include legal fees, inspections, insurance, adjustments, and moving expenses. Having a general understanding of these costs early can help buyers feel more prepared as they move forward.
In areas like South Surrey and White Rock, many first-time buyers begin with condominiums or townhomes before moving into larger properties later on. For some buyers, this can be a practical way to enter the market while building experience and equity over time.
Preparation plays a major role in the home buying experience. Buyers who take time to understand the process, ask questions, and plan ahead often feel more confident throughout the journey.
A Step-by-Step Guide for First-Time Buyers
Many first-time buyers find it helpful to have a clear roadmap before starting their home search. Olivia provides a comprehensive First-Time Home Buyers Guide that breaks the process down step by step, making it easier to understand what to expect at each stage of the purchase.
The guide outlines the typical steps involved in buying a home, common costs to plan for, and important considerations throughout the process. It is designed to simplify the experience and help buyers feel more informed and prepared as they move forward.
If you would like a copy of the guide or have questions about the process, Olivia is always happy to provide additional information.
Government Resources for First-Time Home Buyers
For official program details and eligibility requirements, readers can review:
First-Time Home Buyers’ Program (Property Transfer Tax Exemption)
Government of British Columbia
Home Buyers’ Plan (RRSP Withdrawal Program)
Canada Revenue Agency
First-time home buyers’ GST/HST rebate
Government of Canada
Compliance Disclaimer
The information provided in this blog is intended for general informational purposes only and should not be considered professional real estate advice. Real estate decisions depend on many factors unique to each property and situation. Readers are encouraged to seek independent professional advice before making any real estate decisions.
Olivia Arthur is a real estate advisor with the Engel & Völkers Ocean Park office, serving South Surrey and White Rock. She focuses on strong marketing, maximum exposure, and thoughtful strategy to help her clients achieve the best results.
Olivia Arthur
Real Estate Advisor
Engel & Völkers Ocean Park
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