Just because you’ve owned property before doesn’t mean you're automatically ruled out of first-time homebuyer programs. In fact, many programs have exceptions or reset rules, depending on how long it’s been, where you lived, or the type of property.
Here’s a quick breakdown for buyers in BC & Canada including helpful links to check the most up-to-date government info.
1. You Sold Your Home 4+ Years Ago
For Federal programs like the First Home Savings Account (FHSA) and RRSP Home Buyers’ Plan (HBP), you’re considered a “first-time buyer” again if you haven’t owned and lived in a home in the past four calendar years plus the time in the current year before your withdrawal (minus the 30 days before it).
Example: If you want to use HBP in July 2025, you must not have lived in a home you (or your spouse/partner) owned from Jan 1, 2021 to June 30, 2025.
Full details from CRA here.
2. You Lived with a Common-Law Partner Who Owned the Home
Even if you didn’t legally own the home, living in one your partner owned may disqualify you, depending on the program.
FHSA and HBP: You must not have lived in a home owned by you or your spouse/common-law partner in the last 4 years.
BC Property Transfer Tax Exemption: Focuses only on whether you personally have owned and lived in a home.
3. You Owned a Rental or Vacation Property
You can still be considered a first-time buyer if you didn’t live in the property as your primary residence.
Example: If you owned a rental condo or cottage and never used it as your main home, you likely still qualify under federal definitions for FHSA and HBP.
4. You Owned Property Outside Canada
For BC programs, owning and living in a principal residence anywhere in the world makes you ineligible for their Property Transfer Tax exemption. Federal programs focus more on whether you lived in a qualifying home in Canada, so this may not disqualify you for HBP or FHSA.
5. You Used the RRSP Home Buyers’ Plan Before
You can use HBP more than once, but only if:
You’ve repaid your previous HBP in full before Jan 1 of the year you plan to make a new withdrawal.
You meet the first-time homebuyer conditions again.
Reminder: Repayments normally start the second year after your withdrawal, and you have 15 years to pay it back.
Temporary relief: If you withdrew from HBP between Jan 1, 2022, and Dec 31, 2025, the government extended the grace period you now get 3 extra years before you need to start repayments.
Learn more about HBP repayment rules here.
6. You’re Divorced or Separated
If you previously owned a home with a spouse or partner but have since separated, you may still qualify for federal programs like HBP under the marital breakdown exception even if that ownership was recent. This can be a major help if you're re-entering the housing market solo.
Where to Get the Most Current Info
Program details can change especially around income thresholds and property value limits. Always check official sources:
FHSA – Government of Canada
Home Buyers’ Plan (HBP) – CRA
BC First-Time Home Buyers' Property Transfer Tax Exemption
BC Newly Built Home Exemption
Not Sure Where You Stand?
There’s a lot of fine print when it comes to eligibility especially if you’ve owned before, owned out-of-country, or lived with a partner who did. Let’s figure it out together. I’ll help you review your situation, determine which programs apply, and map out your best steps to homeownership.