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First Time Home Buyers Victoria BC

Attention First Time Home Buyers, you qualify for incentive programs when buying a home on Vancouver Island and in Victoria BC. Please see below for the list of programs and feel free to give us a call if you have more questions as well, we are always happy to help info@bchomegroup.ca.


The First-Time Home Buyer Incentive helps first-time homebuyers without adding to their financial burdens. Eligible first-time homebuyers who have the minimum down payment for an insured mortgage can apply to finance a portion of their home purchase through a shared equity mortgage with the Government of Canada. Visit the First-Time Home Buyer Incentive for more details.


The Home Buyers’ Amount offers a $5,000 non-refundable income tax credit amount on a qualifying home acquired during the year. For an eligible individual, the credit will provide up to $750 in federal tax relief. Go to the Home Buyers’ Amount webpage to see if you are eligible.


The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $35,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. Review the Home Buyers' Plan for more information.


You may qualify for a rebate of part of the GST or HST that you paid on the purchase price or cost of building your new house, on the cost of substantially renovating or building a major addition onto your existing house, or on converting a non-residential property into a houseGST/HST New Housing provides all of the details on this rebate.


First Time Home Buyers please click on the following LINK on some benefits you can receive on your property transfer tax when buying a home on Vancouver Island and in Victoria BC.

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.