How much is the property transfer tax in BC and how can I be exempt from it?
First Time Buyers, having never held title to a home anywhere in the world, can be exempt from this tax if you purchase for $500k or less. From $500k – $525k there is a partial exemption.
If you are not a First Time Buyer and buying a principal residence, you can avoid this tax by purchasing a brand new home for $750k or less.
This tax is over and above the down payment and can NOT be rolled in to the mortgage.
MarStel Mortgage Planing - DLC
200 - 8661 201 Street
Langley, BC V2Y 0G9
Cell: 604.786.9099
Email: christos(at)gitersos.com
“Christos was fantastic to work with. He always replied to any questions we had so quickly and has excellent knowledge of all the realms of applying for a mortgage. I would not hesitate to recommend him to my family and friends.”
- Monica J.
“Very seldom you find a broker with the ability to explain the complexity of mortgages, and able to make a pathway to success. His industry knowledge is second to none, he is always well prepared, and fast. He understands the stress that comes with a big purchase, and knows how to make it as seamless as possible. We had an excellent experience with him, and appreciate his partnership and support to obtain the mortgage we were looking for. I would strongly recommend him to anyone for financial mortgage advice.”
- Saeed S.
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