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First-Time Home Buyer Guide

Buying your first home in Victoria is an exciting milestone. We will walk you through every step, from understanding your budget to getting the keys.

First-Time Buyer Programs

First-Time Home Buyers' Tax Credit

A $10,000 tax credit on your income tax return for your first qualifying home purchase. This can save you up to $1,500 in federal taxes.

Home Buyers' Plan (HBP)

Withdraw up to $35,000 from your RRSP tax-free to put toward your first home. Couples can each withdraw $35,000 for a total of $70,000.

First-Time Home Buyer Incentive

A shared-equity program with the Government of Canada that reduces your monthly mortgage payments. Available for qualified first-time buyers.

BC Property Transfer Tax Exemption

First-time buyers in BC are exempt from property transfer tax on the first $500,000 of a home's value, with a partial exemption up to $835,000.

Getting Started

The most important first step is getting pre-approved for a mortgage. This tells you exactly what you can afford and shows sellers you are a serious buyer. Andrew and his team can connect you with trusted mortgage brokers who specialize in first-time buyers.

Next, make a list of your priorities: neighbourhood, home type, commute, schools, and lifestyle. Victoria has many distinct communities, and the right fit depends on what matters most to you.

Andrew and his team will guide you through every step, from your first showing to closing day. First-time buyers appreciate his patient, educational approach.

Ready to Buy Your First Home?

Andrew and his team love working with first-time buyers. He takes the time to answer every question and makes the process easy to understand.

Call or Text

1-250-589-2897