Tips on Buying and Selling a Home
There are many different factors to consider when buying or selling a new home.
Learn more on this page about:
- Consumer Protection
- New Home Warranty Insurance
- First Time Home Buyers Program
- Property Transfer Tax (PTT)
- Strata Housing
The B.C. government is committed to protecting citizens who are buying, selling or renting a home. Under the Real Estate Services Act and Real Estate Development Marketing Act, the real estate industry is mandated to protect the public interest and prevent harm to consumers.
The Office of the Superintendent of Real Estate (OSRE) is responsible for ensuring that the real estate industry complies with provincial legislation by providing effective regulation and oversight.
BC Housing's Licensing & Consumer Services (formerly the BC Homeowner Protection Office) provides information on the 2-5-10 year home warranty insurance for registered new homes or homes still included under warranty. Learn more at Licensing & Consumer Services.
British Columbians purchasing their first home may be able to reduce or eliminate the amount of property transfer tax they pay. Learn more about the First Time Home Buyers' Program.
When you purchase or gain an interest in property that is registered at the Land Title Office, you're responsible for paying the property transfer tax. You pay the tax based on the fair market value of the property at the date of registration unless you qualify for an exemption. Learn more about the Property Transfer Tax and exemptions.
The property transfer tax is different from annual property taxes. Annual property taxes are paid yearly for each property you own or have a registered interest in to fund services in your area.
Strata housing is a popular choice in B.C. for the convenience, security, added amenities and good value.
- It is important to understand that living in a strata or condo is not the same as renting an apartment or owning a home which is not part of a strata corporation. Strata owners must pay strata fees and follow strata legislation and the strata's bylaws and rules. Learn more about Living in a Strata.
- When buying or selling strata properties there are also mandatory requirements such as disclosing the allocation of parking spaces and storage lockers. Learn more in Buying and Selling Strata.
The content on this webpage is periodically reviewed and updated by the Province of British Columbia as per the date noted: January 14, 2019.