First Time Home Buyers’ Program

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First Time Home Buyers’ Program
Under the First Time Home Buyers' Program, British Columbians buying their first home are eligible for an exemption from property transfer tax on homes valued up to $425,000. Improvements to the program mean even more homebuyers will benefit.

• The market value threshold for homes has been increased by more than $100,000 to $425,000.
• Financing requirements were eliminated and greater flexibility on mortgage repayment options was provided.
• Families buying homes from British Columbia affiliates of Habitat for Humanity Canada now have improved access to Property Transfer Tax exemptions.