US Buyer Cost Calculator

Can I buy a home in North Vancouver if I'm a US citizen?

It depends on your status. Canada's foreign buyer ban stops most non-Canadians from buying residential property on the North Shore, with exceptions for permanent residents, eligible work permit holders, and non-Canadians buying with a Canadian citizen or permanent resident spouse. The ban is scheduled to expire on January 1, 2027, and Ottawa is reviewing what replaces it. If you hold Canadian citizenship or PR, the ban doesn't apply to you.

What is BC's 20% foreign buyer tax, and who pays it?

It's the Additional Property Transfer Tax, a provincial tax of 20% of fair market value charged to foreign nationals buying residential property in Metro Vancouver, including North and West Vancouver. It's paid at closing on top of the regular property transfer tax. It's separate from the federal ban, so it stays in place even if the ban expires. A refund is possible if you become a permanent resident or citizen within one year of buying, move in within 92 days, and live in the home for a year, but the BC government warns that counting on it is a real risk.

I'm a Canadian living in the US. Do I pay the foreign buyer tax?

No. The foreign buyer tax and the federal ban are based on citizenship and permanent residency, not where you live. Select "Canadian citizen or PR" in the calculator. The one thing to watch is the Speculation and Vacancy Tax: if the home sits empty before you move back and most of your income isn't reported in Canada, you can be charged the higher 3% rate.

Why does the calculator default to 35% down?

Lenders usually ask non-resident buyers for a larger down payment, often 35% or more, and buyers putting less than 20% down need mortgage default insurance, which non-residents generally can't get. Your actual requirement depends on your lender, your income documentation, and your status, so a cross-border mortgage broker is worth talking to early.

Where does the exchange rate come from?

The default is a recent mid-market rate, updated periodically. You can type in today's rate. Banks and currency services add a spread to the rate you actually get, and on a down payment-sized transfer that spread can add up to thousands of dollars, so it's worth comparing a currency service against a standard bank wire.

Does this include the Speculation and Vacancy Tax?

Not in the cash-to-close total, because it's a yearly tax, not a closing cost. Check "Home may sit empty part of the year" to see an estimate. For the 2026 tax year (declared in 2027), the rate is 3% of assessed value for foreign owners and for owners whose income is mostly not reported in Canada, and 1% for other Canadians. Living in the home, or renting it to a qualifying tenant for at least six months a year, are the main exemptions. My SVT checker walks through them.

I'm buying a presale or new construction. Does this still apply?

Yes. Check "Newly built home or presale" to add 5% GST. If you're a Canadian citizen or PR, the newly built home property transfer tax exemption is applied where eligible; foreign nationals don't qualify for it. Presales add their own deposit schedule, paid in stages before completion, so treat this result as your completion-day cash requirement. If Canada replaces the ban with a model that allows foreign buyers to purchase new construction, presales may become the main way in for US buyers.