BC real estate questions, answered

5% of the first $500,000 and 10% of the portion from $500,000 to $1.5 million. Homes of $1.5 million or more need 20%, as do rentals you won't live in. Below 20% down, you'll pay mortgage default insurance. CMHC insurance calculator

Lenders qualify you at the higher of your contract rate plus 2% or 5.25%. Your housing costs generally can't exceed 39% of gross income, and all debts 44%. It applies to insured and uninsured mortgages alike. Affordability and stress test calculator

1% on the first $200,000, 2% up to $2 million, and 3% up to $3 million. On residential property, a further 2% applies above $3 million. A $900,000 home pays $16,000 before any exemption. Property transfer tax calculator

Eligible first-time buyers pay no tax on the first $500,000, saving up to $8,000, on homes up to $835,000. The saving phases out by $860,000. You must be a citizen or PR, have never owned a principal residence anywhere, and have lived in BC for 12 months or filed two of the last six returns here. First-time home buyer guide

Buyers of newly built homes up to $1.1 million pay no transfer tax, with a partial exemption up to $1.15 million. You must be a Canadian citizen or PR and live in the home. It isn't limited to first-time buyers. New home GST calculator

First-time buyers of new homes can get back up to $50,000 of GST, the full 5% on homes up to $1 million, phasing out to $1.5 million. It applies to agreements signed on or after March 20, 2025, and it became law in March 2026. New home GST calculator

Property transfer tax, which is usually the largest, plus legal fees of $1,500 to $2,500, an inspection, title insurance, and adjustments for property tax and strata fees. Budget for moving too. Mortgage insurance is added to the loan, and BC doesn't charge PST on it. Closing cost calculator

With less than 20% down, yes, if you're a first-time buyer or buying a newly built home. With 20% or more down, most lenders offer 30 years to anyone who qualifies. Longer amortization lowers the payment, but you pay more interest overall. Mortgage payment calculator

On most resale homes, you have three business days after acceptance to cancel under the home buyer rescission period, by paying the seller 0.25% of the price. After that, you can only withdraw under a subject you haven't removed. First-time home buyer guide

It depends on the rent for a comparable home, your down payment, your mortgage rate and how long you'll stay. With rents down from their 2023 peak and prices below their 2022 peak, the answer varies by home and horizon more than it did a few years ago. Rent vs buy calculator

Presale deposits are usually 10% to 20%, paid in stages and held in trust. Assigning the contract before completion needs developer consent, often for a fee. BC reports and taxes assignment profits, and GST can apply. Presale assignment calculator

In late September 2026, the Bank of Canada's policy rate is 2.25% and prime is 4.45%. The best insured five-year fixed rates are around 4.3%. Rates vary by lender, down payment and amortization. BC mortgage rates

Variable-rate mortgages usually charge three months' interest. Fixed-rate mortgages charge the greater of three months' interest and the interest rate differential. At the big banks, that can be much larger when rates have fallen. Mortgage penalty calculator

4.0% of the loan with less than 10% down, 3.1% with 10% to 15%, and 2.8% with 15% to 20%, plus 0.2% for a 30-year amortization. The premium is added to the mortgage, and BC charges no PST on it. CMHC insurance calculator

Usually about 4% to 5% of the price, apart from repaying the mortgage: commission plus GST, legal fees, any mortgage penalty, preparation and moving. Home sale net proceeds calculator

A common structure is 7% on the first $100,000 plus 2.5% on the balance, plus GST. It's negotiable, and flat percentages and flat fees are also used. BC's PST doesn't apply to residential commissions. Commission calculator

Not on your principal residence, if it was your home every year you owned it and you held it at least a year, but you must report the sale on Form T2091. Rentals and second homes are taxed on half the gain. Capital gains calculator

Since January 1, 2025, profit from selling a home within 365 days is taxed at 20%. The rate declines to zero at 730 days. There are exemptions for life events such as separation, death and job relocation. Federally, profits on homes held under 365 days are also treated as fully taxable business income. Home flipping tax calculator

Well-priced homes often sell within a few weeks. In August 2026, sales equalled about 12% of homes for sale overall, and under 10% for detached houses, so many listings take longer. Completion typically follows 30 to 60 days after a firm deal. Seller's guide

Yes. An investor buyer takes over the tenancy. A buyer who will live there can ask you, in writing, to give three months' notice once the sale is firm, and the tenant gets one month's rent in compensation. Selling a tenanted property

Family property, usually including the home, is presumed to be shared equally, whoever is on title. One spouse can buy the other out, or the home can be sold. Transfers between spouses under a separation agreement or court order are exempt from transfer tax. Separation and the family home

They can list it and accept an offer, but the sale can't complete until probate is granted. Proceeds usually aren't distributed until 210 days after the grant. Selling an estate home

An annual tax on residential property in designated areas that isn't a principal residence or rented for at least six months of the year. For 2026, it's 1% for Canadian citizens and PRs, less a credit for BC residents, and 3% for foreign owners and satellite families. Foreign owners pay 4% from 2027. Every owner must declare by March 31. Speculation and vacancy tax calculator

3% of assessed value on homes in the City of Vancouver that aren't a principal residence and weren't rented for at least six months of the year. Every owner must declare each year, and an undeclared home is treated as vacant. Empty Homes Tax calculator

It no longer applies from the 2025 calendar year. Returns and any tax for 2022 to 2024 are still required where they applied. Speculation and vacancy tax calculator

Up to $570 in Metro Vancouver, the Fraser Valley and the Capital Region, and $770 elsewhere. It's higher for owners 65 and older, people with disabilities and some veterans: $845 and $1,045. It phases out above a 2026 assessed value of $2.075 million. Downsizing guide

Contact BC Assessment first. If you still disagree, file a Notice of Complaint by January 31. For 2026, assessments reflect values at July 1, 2025, which in much of the Lower Mainland were above today's prices. Home value estimator

50%. The proposed increase to two-thirds for larger gains was cancelled in 2025. Capital gains calculator

From October 1, 2026, PST extends to more professional services, including accounting. Residential real estate commissions and residential property management aren't included. Legal services, including conveyancing, have long been subject to PST in BC, so budget for it on your lawyer's bill. Investor tax stack calculator

A study of the building's major components, when they'll need repair or replacement, and what that will cost. It shows whether the contingency reserve is adequate or special levies are likely. Read it, and the last two years of minutes, before you remove subjects. First-time home buyer guide

The information certificate that shows the strata fee, the contingency reserve balance, any approved or proposed special levies, bylaw issues and rental restrictions for a unit. Buyers usually review it during the subject period. Closing cost calculator

Not since November 2022. Stratas can no longer restrict rentals, although 55+ buildings can keep age restrictions. Short-term rentals are governed separately, by strata bylaws and provincial rules. Investor guide

It depends on when the levy was approved and what the contract says. Generally, levies approved before the sale are the seller's responsibility unless the contract says otherwise. Check the Form B, and discuss it with your lawyer. Closing cost calculator

Up to 2.3% for existing tenants in 2026, and 2.2% in 2027. Increases are allowed once every 12 months, with three full months' notice on the approved form. Investor guide

Three months, for notices generated from June 18, 2025, using the Residential Tenancy Branch web portal. The tenant gets one month's rent in compensation. You or your close family must live there for at least 12 months. Selling a tenanted property

In most communities of 10,000 people or more, only in your principal residence, plus one suite or accessory unit. Every host must register with the provincial registry and display the number on listings. Investor guide

Up to half a month's rent as a security deposit, plus up to half a month's rent as a pet deposit. Moving to Vancouver

In municipalities over 5,000 people, most single-family and duplex lots must allow three or four units. Six are allowed on larger lots near frequent transit. Parking requirements are removed near frequent transit. Multiplex calculator

The area within 800 metres of a SkyTrain station, or 400 metres of a bus exchange, where municipalities must allow minimum heights and densities. Near SkyTrain, that's up to 20 storeys within 200 metres. It's a floor for rezoning, not automatic permission to build. Transit-oriented zoning calculator

In August 2026, the Greater Vancouver composite benchmark was $1,081,900. That's about 5.6% lower than a year earlier and about 14% below its 2022 peak. The Fraser Valley is about 27% below its peak. Home value estimator

The estimated price of a typical home in an area, from the MLS Home Price Index. It tracks price trends for comparable homes more reliably than averages or medians, which move with the mix of homes that sold. Moving to Vancouver

A quick estimate comes from how prices for your area and home type have moved since you bought. An accurate value needs recent comparable sales and a look at your home. Free home evaluation

Most non-Canadians can't buy homes in Canadian cities until January 1, 2027. There are exceptions, including work permit holders with at least 183 days left on their permit. BC also charges foreign nationals a 20% additional transfer tax in five regions. Newcomer buying guide

Yes, if the permit has at least 183 days left on the purchase date. In the five additional-tax regions, you'll pay the 20% additional transfer tax, which is refundable if you become a PR within a year and live in the home. Buying on CUAET

Most new residents wait for the rest of the month they arrive in plus two months before MSP coverage begins. Apply as soon as you arrive. Moving to Vancouver

Use the school district's school locator with the exact address, including the unit number. For anything important, confirm with the district in writing. Listings and portals can be out of date. Schools and catchments