Buying Vancouver Real Estate as an American Buyer

If you are a U.S. resident looking to buy a house in Vancouver, there are important rules, exemptions, and taxes you should understand before entering the market. Whether your interest is in buying a detached house in North Vancouver, a condo downtown, or a duplex in West Van, working with an experienced Vancouver real estate agent will make the process smoother and ensure you meet all legal requirements. Mint Home Team is here to help answer your questions!

The Foreign Buyer Ban

Canada introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act, commonly called the foreign buyer ban.

  • Applies until January 1, 2027.
  • Prevents non-Canadians from buying most residential property with three units or fewer (single-family homes, duplexes, condos).
  • Applies within major metropolitan areas, including East Vancouver and most of Metro Vancouver.

Exemptions to the Ban

There are several ways U.S. buyers can still purchase property in Vancouver and BC.

  • Property Type: Homes with four or more units and vacant land are exempt.
  • Location: Properties outside designated metropolitan zones may be allowed.
  • Status in Canada:
    • Holders of valid work permits (183+ days remaining).
    • Students who meet tax-filing and residency requirements.
    • Spouses or common-law partners of Canadian citizens or permanent residents.
  • Special Cases: Purchases through inheritance, divorce settlements, or gifts.

An experienced real estate team in Vancouver can guide you through whether your situation qualifies.

Taxes US Buyers Should Know

Purchasing real estate in Vancouver comes with additional costs.

  1. Property Transfer Tax (PTT)
    • Standard tax applied to all real estate transactions in BC.
  2. Foreign Buyer Tax (BC)
    • 20% of the purchase price on top of the Property Transfer Tax.
    • Applies in areas like North Vancouver real estate, East Vancouver real estate, and the Vancouver Westside.
  3. Speculation and Vacancy Tax (SVT)
    • Annual tax for properties that sit empty.
    • Higher rate for foreign buyers.
  4. Empty Homes Tax (EHT) (City of Vancouver only)
    • Additional municipal tax if the property is not occupied or rented out.

These taxes can significantly increase the cost of buying property, so it’s best to plan with the help of a trusted Vancouver realtor.

Selling a Home as a US Owner

If you later decide to sell a home in Vancouver, there are withholding tax requirements.

  • The buyer’s lawyer must withhold up to 25% of the sale price for non-resident sellers.
  • You can reduce this by applying to the Canada Revenue Agency for a Certificate of Compliance, which bases the tax on actual capital gains instead of gross proceeds.
  • U.S. sellers must report the sale to both Canadian and U.S. tax authorities.

When you work with experienced Vancouver real estate agents like the Mint Home Team, you’ll have the support needed to navigate these obligations smoothly.

Why Work With a Local Realtor

Buying property in Vancouver as a U.S. resident is complex, but the right support makes it possible. A skilled Vancouver real estate agent will:

  • Help you determine whether the foreign buyer ban applies to your purchase.
  • Provide clarity on taxes in areas like West Vancouver, North Vancouver, and Downtown Vancouver.
  • Guide you through the resale process if you want to sell a house in Vancouver in the future.
  • Connect you with cross-border tax and legal experts.

 

Whether your dream is to buy a house in Vancouver, invest in East Vancouver real estate, or explore opportunities for a future home in North Vancouver, working with Mint Home Team means you’ll have knowledgeable Vancouver real estate agents on your side every step of the way. Contact us today for more details of how buying a home in Canada doesn’t have to be scary – you just need the right support!

 

*Please note all information is correct as of October 2025. Things can change quickly – reach out to us for assistance!

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