Tom Osterberg

Thinking about real estate? Talk to Tom!

1. Home Buyers Plan

RRSP WithdrawMore...
Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time.

Canada Revenue Agency

Enter ‘Home Buyers' Plan’ in the search box.


2. GST Rebate on New Homes

GST/HST RebateMore...
New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.

Canada Revenue Agency

Enter ‘RC4028’ in the search box.


3. BC New Housing Rebate (HST)

New or Substantially Renovated HomesMore...
Buyers of new or substantially renovated homes priced up to $850,000 are eligible for a provincial enhanced New Housing Rebate of 71.43% of the provincial portions (7%) of the 12% HST paid to a maximum rebate of $42,500. Homes priced at $850,000+ are eligible for a flat rebate of $42,500.


4. BC New Housing Rebate (HST) for Secondary Vacation or Recreational Homes

New or Substantially Renovated Secondary or Recreational HomesMore...
Buyers of new or substantially renovated secondary or recreational homes outside the Greater Vancouver and Capital Regional Districts priced up to $850,000 are eligible for a provincial enhanced New Housing Rebate of 71.43% of the provincial portions (7%) of the 12% HST paid to a maximum rebate of $42,500. Homes priced at $850,000+ are eligible for a flat rebate of $42,500.

5. BC New Rental Housing Rebate (HST)

Purchasing a rental?More...
Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $42,500 per unit.


6. BC New Rental Housing Rebate (HST)

First-time new buyers may be eligible for a 5% grant.More...
First-time new home buyers may be eligible for a one-time grant equal to 5% of the purchase price of the home, or if you are building a home, 5% of the land and construction costs, up to $10,000. The bonus is based on the net income of the home buyer. This program ends March 31, 2013.

7. BC Property Transfer Tax (PTT) First Time Home Buyers' Program

First Time Home Buyer?More...
Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000.

BC Ministry of Small Business and Revenue


8. First-Time Home Buyers' Tax Credit (HBTC)

Tax CreditMore...
This federal non-refundable income tax credit is for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. The calculation: multiply the lowest personal income tax rate for the year (15% for 2011) x $5,000. For the 2011 tax year, the maximum credit is $750.

9. BC Home Owner Grant

Reduces Property TaxesMore...
Reduces property taxes for home owners with an assessed value of up to $1,285,000. The basic grant gives home owners
  • a maximum reduction of $570 in property taxes on principle residences in the Capital, Greater Vancouver and Fraser Valley regional districts;
  • an additional grant of $770 to rural homeowners elsewhere in the province; and
  • an additional grant of $275 to seniors aged 65+, those who are permanently disabled and war veterans of certain wars.

BC Ministry of Small Business and Revenue

or contact your municipal tax office.

10. BC Property Tax Deferment Programs

For Seniors, Financial Hardship and Families with ChildrenMore...
Property Tax Deferment Program for Seniors. Qualifying home owner aged 55+ may be eligible to defer property taxes.
Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.
Property Tax Deferment Program for Families with Children. Qualifying low income home owners who financially support children under age 18 may be eligible to defer property taxes.

11. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants

Financial Aid to Repair Substandard HousingMore...
This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and owners creating secondary and garden suites.

12. Home Adaptations for Independence (HAFI)

$20,000 to finance modifications for safer, more accessible homes.More...
A new program jointly sponsored by the provincial and federal governments provides up to $20,000 to help eligible low-income seniors and disabled home owners and landlords to finance modifications to their homes to make them accessible and safer.
BC Housing
604.646.7055 or toll-free 1.800.407.7757 extension 7055

13. CHMC Mortgage Loan Insurance Premium Refund

Purchasing an Energy Efficient Mortgage or Making Energy Efficient RenovationsMore...
Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient mortgage or make energy saving renovations.

14. Energy Saving Mortgages

Mortgages Offered for Energy Efficient HomesMore...
Financial institutions offer a range of mortgages to home buyers and owners who make their homes more energy efficient. For example, home owners who have a home energy audit within 90 days or receiving an RBC Energy SaverTM Mortgage, may qualify for a rebate of $300 to their RBC account.

15. Low Interest Renovation Loans

Making Energy Efficient Upgrades?More...
Financial institutions offer 'green' loans for home owners making energy efficient upgrades. Vancity's Bright Ideas personal loan offers home owners up to $20,000 at prime + 1% for up to 10 years for 'green' renovations. RBC's Energy Saver Loan offers 1% off the interest rate for a fixed rate installment loan over $5,000 or a $100 renovation on a home energy audit on a fixed rate installment over $5,000. For information visit your financial institution.

16. LiveSmart BC: Efficiency Incentive Program

Improving the Energy Efficiency in Your Home?More...
Home owners improving the energy efficiency of their homes may qualify for cash incentives through this provincial program provided in partnership with ForticBC and BC Hydro. Rebates are for energy efficient products which replace gas and oil furnaces, pumps, water heaters, wood stoves, insulation, windows, doors, skylights and more. The LiveSmart BC program also covers $150 of the cost of a home energy assessment, directly to the service provider.

17. BC Residential Energy Credit

Rebate on Utility BillsMore...
Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST.

18. BC Hydro Appliance Rebates

Mail-in RebatesMore...
Mail-in rebates for purchasers of ENERGY STAR clothes washers, refrigerators, dishwashers, or freezers.

19. BC Hydro Fridge Buy-Back Program

Buying a New Fridge?More...
This ongoing program rebates BC Hydro customers $30 to turn in spare fridges in working condition.

20. BC Hydro Windows Rebate Program

Replacing your Windows?More...
Pay no HST when you buy ENERGY STAR high-performance windows and doors.

21. BC Hydro Mail-in Rebates/Saving Coupons

To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone. Check for new offers and for deadlines.

22. FortisBC Rebate Program

Great RebatesMore...
A range of rebates for home owners include a $50 rebate for upgrading a hot water tank, $300 rebate on an Ener-Choice fireplace and a $1,000 rebate for switching to natural gas (from oil or propane) and installing an ENERGY STAR heating system.

23. FortisBC Efficient Boiler Program

75% cash rebate!More...
For commercial buildings, provides a cash rebate of up to 75% of the purchase price of an energy efficient boiler, for new constructions or retrofits.


24. City of Vancouver Rain Barrel Subsidy Program

The city of Vancouver covers 50% of the costMore...
The city of Vancouver provides a subsidy of 50% of the cost of a rain barrel for Vancouver residents. With the subsidy, the rain barrel costs $75. Buy your rain barrel at the Transfer Station at 377 W. North Kent Ave., Vancouver, BC. Limit of two per resident. Bring proof of residency.


Other municipalities have similar offers.

25. City of Vancouver Greenest City 2020 Pilot Home Energy Loan Program

Access to Loans for Energy Retrofits.More...
The city of Vancouver in cooperation with Vancity, FortisBC, BC Hydro and Natural Resources Canada offers access to loans for energy retrofits including heating systems, insulation and air sealing. The Home Energy Loan from Vancity is a 12 month pilot program that will end October 21, 2012. For more information attend a workshop (see third link below). The goal is 500 homes and loans are offered at 4.5% fixed rate over 10 years. The program also helps with accessing grants from the federal ecoENERGY program, the provincial LiveSmart BC program and FortisBC.

26. Vancity Green Building Grant

$10,000 Grants for Charities and Non-Profits.More...
In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for projects which focus on building renovations/retrofits, regulatory changes that advance green building development, and education to increase the use of practical green building strategies. The deadline for applications was January 23, 2012. If you are still interested in this grant, open the link, and consider contacting Vancity to express your interest.

27. Local Government Water Conservation Incentives

Toilet Rebates!More...
Your municipality may provide grants and incentives to residents to help save water. For example, the City of Coquitlam offers residents a $100 rebate and the City of North Vancouver, District of North Vancouver and District of West Vancouver offer a $50 rebate when residents install a low-flush toilet. Visit your municipality's website and enter 'toilet rebate' to see if there is a program.

28. Local Government Water Meter Programs

Voluntary Water MeteringMore...
Your municipality may provide a program for voluntary water metering, so that you pay only for the amount of water that you use. Delta, Richmond and Surrey have programs and other municipalities may soon follow. Visit your municipality's website and enter 'water meter' to find out if there is a program.
Tom Osterberg
Tom Direct: 604-615-6446
Office: 604-855-7393
Fax: 604-855-4096
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