First-Time Homebuyers in North Vancouver

Buying your first home is exciting and overwhelming in equal measure, and that's completely normal. The process has a lot of moving parts, and if you haven't done it before it can feel like everyone else knows something you don't.

That's exactly why I love working with first time buyers. There's no such thing as a stupid question, and I'd rather you ask me ten times than go into a decision without fully understanding it. My job is to make this process feel manageable, not intimidating.

As a North Vancouver local with over 16 years in real estate, I know this market well. I work with a lot of first time buyers across Lower Lonsdale, Central and Upper Lonsdale, Deep Cove, Dollarton, and the surrounding North Shore neighbourhoods, and I know what's realistic for different budgets and lifestyles right now.

Before You Start Looking

There are a few things worth sorting out before you start attending open houses, and getting these right will save you a lot of time and stress later.


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Mortgage Pre-Approval
The first step when beginning your home search is getting pre-approved for a mortgage – this will tell you how much you can or cannot afford and is guaranteed for 90 days while you search for your home. Knowing what you can afford frames the rest of your search and helps you avoid wasting time looking at something that is over your budget.

Consider Your Options - Presale vs. Resale
Think about your timeline. If you're not ready to move in right away, presale could be worth exploring. Buying a home before it's built means you have more time to save while locking in today's price. I have deep presale experience and can walk you through whether it makes sense for your situation. To know more about presale developments and what they entail, please click here. 

Be Cognisant of Future You
Think about where you want to be in five years. Your first home doesn't have to be your forever home, but it should work for your life for at least a few years. Think about lifestyle, commute, proximity to work and family, and whether your needs might shift with a growing household.

First-Time Buyer Programs Worth Knowing

1. The BC First Time Homebuyers' Program can reduce or eliminate property transfer tax on your purchase if you qualify. You'll receive a full exemption on homes valued up to $500,000, and an $8,000 reduction on homes between $500,000 and $835,000. The exemption phases out between $835,000 and $860,000, and homes above that don't qualify. Click here for more information. 

2. The First Home Savings Account (FHSA) lets you contribute up to $8,000 per year, to a lifetime maximum of $40,000, completely tax-free when used toward your first home. An FHSA combines some of the features of an RRSP and TFSA. Eligible contributions will generally be tax-deductible, and when a qualifying withdrawal is made, the amount withdrawn, including any investment earnings, is not-taxable. 

3. The RRSP Home Buyers' Plan (HBP) allows you to withdraw up to $60,000 from your RRSP tax-free toward your first home, or $120,000 combined with a partner. Withdrawn funds are repaid over 15 years.

4. The First Time Home Buyers' Tax Credit (HBTC) is a non-refundable credit of $10,000, which can reduce your income tax owing by up to $1,500 in the year you purchase.

5. The federal government now offers a First Time Home Buyers' GST Rebate that eliminates the full 5% GST on new construction homes priced up to $1 million, a savings of up to $50,000, with a partial rebate on homes between $1 million and $1.5 million. To qualify, you must be a first time buyer purchasing a newly built or substantially renovated home as your primary residence, with a purchase agreement signed on or after March 20, 2025. In many cases the builder credits the rebate right at closing, so you never pay the GST at all.

6.  BC's newly built home program can reduce or eliminate the Property Transfer Tax on a newly constructed or newly subdivided home, whether it's your first home or not.

  • Full exemption on homes valued up to $1,100,000
  • Partial exemption on homes valued between $1,100,000 and $1,150,000
  • Homes above $1,150,000 don't qualify

These programs can make a meaningful difference, and I'll make sure you're taking advantage of everything available to you. 

Hidden Fees of Homeownership 
Hidden fees associated with closing costs are often overlooked. These include things such as mortgage insurance, appraisal fees, lawyer/notary fees, GST (on newly built homes) and Property Transfer Tax (PTT). These costs can vary depending on the type of home you choose. Please refer to my blog for an in-depth review of what you will encounter.  

What It's Like Working With Me

I work with first-time buyers the same way I work with everyone: with honesty, patience, and no pressure. I'll explain everything in plain language, I'll tell you what I think, and I'll make sure you feel confident at every step of the process.

Ready to get started? Download my First-Time Homebuyers Bootcamp below or reach out and let's have a conversation about where you're at and what's possible.


If you are looking for more information, be sure to check out my Buyers Guide to familiarize yourself with the steps involved in purchasing your future home. 

Hope to connect with you soon! 

Please Provide Your Buying Criteria

Julia Beeger

Oakwyn Realty Ltd.

101-3151 Woodbine Drive  North Vancouver,  British Columbia  V7R 2S4 

Phone: (604) 306-8746

julia@juliabeeger.com