Buying › First-time buyers
First-time buyers
Buying your first home in North or West Vancouver is a big step. Here's how it works, the programs that can help, and where first-time buyers often start.
Start with a mortgage pre-approval, so you know your budget and can act quickly. Your mortgage professional will look at your income, debts and down payment, and at the federal stress test, which checks you could afford payments at a higher rate.
Some buyers also use federal programs such as the First Home Savings Account (FHSA) or the RRSP Home Buyers' Plan toward their down payment. The limits and tax rules are set by the Government of Canada and can change, so ask your financial advisor or accountant whether they suit you.
Plan for closing costs on top of your down payment, including legal or notary fees, a home inspection, title insurance, property tax and strata fee adjustments, and BC property transfer tax.
The Province of BC offers a property transfer tax exemption for eligible first-time buyers, with limits based on the home's value. You can find the current amounts and conditions on the Government of BC website. We're REALTORS®, not tax advisors, so we can't give tax advice. Your lawyer or notary will confirm whether you qualify and calculate the tax at completion.
Many first-time buyers start with a condo or townhouse around Lower Lonsdale, Central Lonsdale, Lynn Valley or Norgate, close to shops and transit. Others look for a house with a suite to help with the mortgage. Browse current North Vancouver condos and townhouses.
Most offers include subjects, such as financing, an inspection and a review of the strata documents. Once your offer is accepted, BC buyers usually have a three-business-day rescission period, with a fee of 0.25% of the price if they cancel. We'll explain every step and every document, so there are no surprises.
Free buyer's guides
Our free condo and house buyer's guides walk you through every step, from pre-approval to completion. Choose yours and we'll email it to you with a personal note from one of us.
Questions we're often asked
Minimum down payments are set by federal mortgage rules and depend on the purchase price, and with less than 20% down you'll usually need mortgage default insurance. Your mortgage professional will confirm what applies to you.
The Province of BC offers an exemption for eligible first-time buyers, with limits based on the home's value. The current amounts and conditions are on the Government of BC website, and your lawyer or notary will confirm whether you qualify.
It's a federal registered savings account for first-time home buyers. The limits and tax rules are set by the Government of Canada, so ask your financial advisor or accountant whether it suits you.
It depends on your budget, lifestyle and plans. Condos are usually the most affordable start, and townhouses offer more space. We'll help you compare both, and the strata behind them.
It varies. Once you're pre-approved and find the right home, the offer and subject period usually take a week or two, and completion is often several weeks later.
This guide is general information, current as of November 2026, and isn't legal, tax or financial advice. Rules and programs change, so confirm the details with your lawyer or notary, mortgage professional or accountant.
We're happy to talk it through, with no obligation. Use the form below, or call Ann at 604-729-0605 or Leslie at 604-809-9299.