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Tools and guides for buying and selling in BC
Calculators, step-by-step guides, programs and the rules every Metro Vancouver buyer and seller should know.
Calculators
Run the numbers.
Fixed-rate payment, compounded semi-annually as Canadian mortgages are. Mortgage default insurance is required with less than 20% down and is added to the mortgage (BC charges no sales tax on it). Homes priced at $1.5 million or more need at least 20% down.
Lenders qualify you at the higher of your rate plus 2% or 5.25% (the stress test), and usually cap housing costs at 39% of income and all debts at 44%. This is a rough guide: a mortgage broker or lender gives the real number.
BC rates: 1% on the first $200,000, 2% up to $2 million, 3% above $2 million, plus 2% more on the part of a home's value over $3 million. First-time buyers pay no tax on the first $500,000 for homes up to $835,000 (phasing out by $860,000); newly built homes are fully exempt up to $1.1 million (phasing out by $1.15 million). Both have conditions: see the Province of BC.
Plan for closing costs on top of your down payment. The default amounts are typical Metro Vancouver figures; change them to your quotes. New homes carry 5% GST, and rebates may apply.
Commission is shown as the total, usually shared between the listing and buyer's brokerages, plus 5% GST. Rates are negotiable and set out in your listing agreement. Adjustments can be a credit or a cost (enter a negative number for a credit). Ask your lender for your exact payout and any penalty.
Estimates for general information only, based on rules in effect in 2026. Confirm figures with your lender, lawyer or notary.
Buying
Buying a home, step by step.
From pre-approval to keys, here is how a purchase in BC usually unfolds.
Book a buyer consultation- Get pre-approvedKnow your budget and lock in a rate hold before you shop.
- Plan your searchAgree on areas, must-haves and how you will compare homes.
- View and researchCheck comparable sales, strata documents and the building's history.
- Make an offerPrice, deposit, subjects (financing, inspection, documents) and dates.
- Remove subjectsInspection done, financing confirmed, documents reviewed. The deal is firm.
- Complete and move inYour lawyer or notary transfers title; you get the keys on possession day.
- Price it rightA market analysis based on recent sales and today's competition.
- Prepare and presentRepairs, staging, professional photos and video.
- LaunchMLS®, social media and Alan's network, with a planned first week.
- NegotiateCompare offers on price, subjects, deposit and dates, not price alone.
- CloseSubjects removed, documents signed, keys handed over on completion.
First-time buyers
Programs that help you buy.
First Home Savings Account (FHSA)
Save up to $8,000 a year ($40,000 in total) tax-free toward your first home.
Official detailsRRSP Home Buyers' Plan
Withdraw up to $60,000 from your RRSP for a first home and repay it over 15 years.
Official detailsBC first-time buyer tax exemption
No property transfer tax on the first $500,000 for homes up to $835,000.
Official detailsHome buyers' amount
A federal tax credit worth up to $1,500 in the year you buy your first home.
Official detailsInsured mortgages up to $1.5M
With less than 20% down, homes up to $1.5 million qualify; first-time buyers and new builds can choose 30 years.
Official detailsTaxes and rules
What to know before you buy or sell.
Speculation and Vacancy Tax
A yearly tax on homes left empty in most of Metro Vancouver. Every owner must declare each year.
Official detailsVancouver Empty Homes Tax
A City of Vancouver tax on homes that are not a principal residence or rented out.
Official detailsAdditional tax for foreign buyers
Foreign nationals and entities pay an extra 20% property transfer tax in Metro Vancouver.
Official detailsBC home flipping tax
Since 2025, profit on a home sold within two years of buying it (including presale assignments) can be taxed.
Official detailsHome buyer rescission period
Buyers of most homes have three business days to cancel a firm deal, for a fee of 0.25% of the price.
Official detailsStrata checklist
Documents to review before you firm up.
Most Metro Vancouver homes are strata. These documents tell you how well a building is run and what costs may be coming.
Strata housing (Province of BC)- Form B information certificate (fees, levies, bylaws and rentals)
- Depreciation report and contingency reserve fund balance
- Two years of council and annual general meeting minutes
- Bylaws and rules (pets, rentals, renovations, short-term rentals)
- Budget and financial statements
- Any planned or recent special levies
- Insurance certificate and deductibles
- Engineering or building envelope reports, if any
Glossary
Real estate terms, in plain English.
Assignment
Selling your contract to buy a presale home to another buyer before it completes.
Benchmark price
The price of a typical home of a given type in an area, used to track market trends.
Completion date
The day money and title change hands. Possession, when you get the keys, usually follows a day or so later.
Subjects (conditions)
Terms that must be met before a deal is firm, such as financing, inspection or document review.
Deposit
Money paid when subjects are removed, usually about 5%, held in trust until completion.
Depreciation report
A study of a strata building's major components, their condition and what replacing them will cost.
Contingency reserve fund
A strata's savings for repairs and replacements.
Special levy
An extra charge to owners, approved by the strata, for a large expense.
Form B
The strata's information certificate: fees, levies, bylaws, rentals and legal matters for a unit.
Stress test
The rate lenders use to check you could still pay if rates rise: the higher of your rate plus 2% or 5.25%.
Amortization
The total time to pay off a mortgage, usually 25 years; the term is the length of your current contract.
Mortgage default insurance
Required when you put less than 20% down; protects the lender and lets you buy with as little as 5% down.
Property transfer tax
BC's tax paid by buyers when they register a property in their name.
Sales-to-active ratio
Monthly sales divided by homes for sale. Below about 12% favours buyers; above 20% favours sellers.
Title insurance
Insurance that protects you against title problems such as fraud or survey errors.
Links
Trusted organizations.
Real estate and property
Buying and mortgages
- CMHCCanada Mortgage and Housing Corporation
- Mortgages (Financial Consumer Agency of Canada)Independent mortgage guidance
- First Home Savings Account (CRA)Tax-free savings for a first home
- Property Transfer Tax (Province of BC)Rates and first-time buyer exemptions
- Home Owner Grant (Province of BC)Reduce your annual property tax
Inspections, strata and new homes
Renting and property taxes
Have a question these tools don't answer?
Ask Alan. He replies personally.