New Westminster, BC, Buyer cash back
New Westminster cash back realtor for first-time buyers and heritage houses
New West is where many first-time buyers get in. Pair the first-time buyer transfer tax exemption with our 50% rebate and the savings add up.
Get my New Westminster rebate agentClosing costs in New Westminster, and where the rebate lands
A $650,000 condo bought by a first-time buyer, which qualifies for the full first-time buyer exemption.
| Item | Amount |
|---|---|
| Property transfer tax (standard) | $11,000 |
| First-time buyer exemption, if eligible | −$8,000 |
| Lawyer or notary, title insurance (estimate) | $1,500 to $2,500 |
| Home inspection (estimate) | $500 to $900 |
| Your rebate after completion | +$4,773 |
BC property transfer tax: 1% on the first $200,000, 2% to $2 million, 3% above that, plus 2% on residential value over $3 million. First-time buyers can be exempt on the first $500,000 for homes up to $835,000, phasing out by $860,000. Newly built homes can be fully exempt up to $1,100,000, phasing out by $1,150,000. Eligibility rules apply; your lawyer or notary confirms.
What buying in New Westminster is really like
New Westminster has the lowest composite benchmark in the Metro Vancouver core because so much of its housing is condos, many of them older. It is one of the few places in the region where a one-bedroom still trades in the mid-$400,000s. Queens Park and Glenbrooke have heritage houses, and Queensborough on Lulu Island adds newer detached houses and townhouses.
At the $722,300 benchmark, the 50% rebate is about $5,188. Heritage Queens Park houses around $1,800,000 bring about $11,385 back.
New Westminster composite benchmark $722,300, GVR August 2026.
What your budget buys in New Westminster
- Around $450,000
- A one-bedroom in an older Uptown or Brow of the Hill building.
- Around $700,000
- A two-bedroom in a newer tower Downtown or at the Quay.
- Around $1,000,000
- A townhouse in Queensborough.
- $1,500,000 and up
- A heritage house in Queens Park or Glenbrooke.
Check these before you buy in New Westminster
1970s and 1980s condos
Uptown and the Brow of the Hill have many older wood-frame and concrete buildings. Check age, plumbing, the envelope history and whether a special levy is coming.
Rental restrictions
Some older strata buildings restrict rentals or have age restrictions. Read the bylaws if you are buying to rent out or are under 55.
Queensborough floodplain
Queensborough is low-lying and protected by dikes, like Richmond. Ask your insurer about flood coverage.
Heritage controls
Queens Park is a heritage conservation area. Renovations and demolition are controlled.
Worked example, Uptown one-bedroom
A first-time buyer purchases an Uptown one-bedroom in a 1990s building for $520,000. The buyer brokerage earns about $8,050 before GST. The buyer's share, about $4,025, is close to a typical special levy for a hallway or roof project in a building that age.
New Westminster or Burnaby?
New Westminster
$722,300benchmark
$5,188your rebate at that price
Burnaby
$948,000benchmark
$6,486your rebate at that price
Burnaby costs more on average and has the newer towers. New West wins on entry price and character: older buildings, heritage streets and a walkable river front.
Your New Westminster rebate at other prices
| Price | Typical buyer-side commission | Your cash back (50%) | Typical listing-side commission | Seller saving (50%) |
|---|---|---|---|---|
| $425,000 | $6,958 | $3,479 | $8,168 | $4,084 |
| $575,000 | $8,683 | $4,341 | $10,193 | $5,096 |
| $725,000 | $10,408 | $5,204 | $12,218 | $6,109 |
| $900,000 | $12,420 | $6,210 | $14,580 | $7,290 |
| $1,150,000 | $15,295 | $7,648 | $17,955 | $8,978 |
Common BC split to the buyer brokerage: 3.22% on the first $100,000 and 1.15% on the rest, before GST. Your agent confirms the actual figure before each offer.
Work out your number
Estimated cash back: —
Selling first? Sell in New Westminster with half the listing commission.