BC Incentives & Rebates for Presale Buyers (2025 Update)

Thinking about buying a presale condo or townhome in BC? The right incentives, exemptions, and rebates can meaningfully cut your costs. Below is an up-to-date look at what’s available for presale buyers in 2025.

1) Property Transfer Tax (PTT) — First-Time Home Buyers’ Exemption

• Thresholds (effective April 1, 2024):
  If your home’s fair market value (FMV) is ≤ $835,000, you can receive a full exemption on the first $500,000 (up to $8,000) of PTT.
  A partial exemption applies for FMV between $835,000 and $860,000.

2) PTT — Newly Built Home Exemption

• Designed especially for new builds / presales:

  • Full exemption up to $1,100,000 FMV

  • Partial exemption between $1,100,000 and $1,150,000
    (Effective April 1, 2024)
    This can significantly reduce your closing cost on many presale units.

3) Federal GST New Housing Rebate (Proposed)

• If you intend to occupy your presale home, you may be eligible to rebate part of the 5% GST.

• Rebate eligibility phases out as the home price approaches $450,000.

• Developers often include GST in presale pricing, but confirm the rebate’s application before you commit.

4) First Home Savings Account (FHSA)

• You can deposit up to $8,000/year, with a $40,000 lifetime limit.

• Tax-deductible contributions, and, when used for your first home, withdrawals are tax-free.

5) RRSP Home Buyers’ Plan (HBP)

• The HBP cap is now $60,000 per buyer, allowing you to tap into RRSP funds for a home purchase.

• You’ll need to follow the repayment schedule (generally 15 years).

6) 30-Year Insured Mortgages for New Builds

• As of August 1, 2024, lenders can now offer 30-year amortizations for first-time buyers of new builds.

• This reduces monthly payments and improves qualification capacity for presale buyers.

7) Developer Incentives & Perks

These are project-specific but commonly include:

• 5% deposit structures (lower than standard rates)

• Credits toward closing costs / GST / upgrades

• Assignment fee discounts or free assignments

• Inclusion of parking/storage or décor upgrades

Always review incentives for each project and validate them in writing.

8) BC Home Flipping Tax & Assignment Caution

• If you assign your presale contract (sell before completion), BC’s Home Flipping Tax may apply:

  • 20% tax on profit if held < 365 days

  • Reduced rate if held between 365 and 730 days

  • Zero tax after 2+ years

• Plan your exit strategy early and consult your accountant.

How We Assist You

We’ll:

• Confirm your eligibility for PTT and GST programs with current thresholds

• Stack FHSA + HBP strategies smartly

• Review and negotiate developer incentives

• Provide a tailored cost estimation & roadmap for your presale purchase