Buying guide
Buying a home in Kamloops: the rules that matter here
Most of buying a home is the same anywhere in BC. This guide spends its time on what is different in Kamloops: the exemption most buyers qualify for, the rental rules, leasehold at Sun Rivers, and hazard overlays on the hills.
Updated September 2026 · by Sean Phillips, REALTOR®
- $8,000max first-time PTT saving
- 1%2026 vacancy tax (Canadians)
- 0%foreign-buyer PTT here
- Principal res.STR rule
1. Property transfer tax (PTT) and exemptions
BC charges 1% on the first $200,000, 2% from $200,000 to $2 million, 3% above $2 million, and a further 2% on residential value above $3 million (gov.bc.ca). On the August 2026 Kamloops single-family benchmark of $669,100, that works out to $11,382.
The Kamloops advantage for first-time buyers
The first-time home buyers' exemption removes the tax on the first $500,000 when the fair market value is $835,000 or less, and there's a partial exemption up to $860,000. The maximum saving is $8,000. Because typical Kamloops homes of every type sit under $835,000, most first-time buyers here get the full exemption. On a $669,100 house, the tax drops from $11,382 to $3,382.
Who qualifies: Canadian citizens or permanent residents who meet the BC residency rule and have never owned a principal residence anywhere. The property must be 0.5 hectares or less and become your principal residence.
The newly built home exemption covers the full tax on new homes up to $1.1 million, with a partial exemption to $1.15 million (gov.bc.ca). You can't stack it with the first-time exemption. The affordability calculator applies whichever is larger.
2. GST on new homes
New homes carry 5% GST. The federal First-Time Home Buyers' GST rebate can cover all of it on new homes up to $1 million, phasing out between $1 million and $1.5 million (CRA). Eligibility depends on dates and other conditions, so confirm them with CRA or your accountant. Also ask the builder whether their price includes GST.
3. Speculation and vacancy tax
The City of Kamloops is a taxable area for BC's speculation and vacancy tax (gov.bc.ca). Every owner must file a declaration each year, even if exempt. Most owners who live in the home, or rent it long-term, are exempt. For 2026 the rate is 1% of assessed value for Canadian citizens and permanent residents and 3% for foreign owners and untaxed worldwide earners. From 2027, the second rate becomes 4% (rates). Planning to leave a Kamloops property empty as a part-time home? Price this in.
Whether Sun Rivers and other Tkʼemlúps te Secwépemc lands fall inside the taxable area is a separate question. Check the province's interactive map for the specific address.
4. Foreign buyers
BC's 20% additional property transfer tax for foreign buyers does not apply in Kamloops. The Thompson-Nicola Regional District isn't a specified area (gov.bc.ca). However, the federal Prohibition on the Purchase of Residential Property by Non-Canadians Act still applies. Check canada.ca for its current expiry and exceptions before you make any plans.
5. Short-term rentals: principal residence only
Kamloops updated its bylaws in May 2025 to match provincial law. A short-term rental (under 30 nights, or advertised monthly stays under 90 days) is allowed only in the operator's principal residence. That can be a room, a basement suite, a carriage house, or the whole house while you're away. The City's rules also require:
- a City business licence, with the number shown on every listing
- an inspection and a signed good-neighbour agreement
- proof of principal residence, plus strata approval where it applies
- registration with the provincial short-term rental registry (mandatory since 1 May 2025)
- one booking at a time, within occupancy limits
An STR is not allowed on a lot with two or more suites, an illegal suite, a daycare, a care facility or a home business that customers visit. Kamloops is also on the province's principal residence requirement list. Bottom line: don't buy a Kamloops condo as a nightly-rental investment.
6. Suites and multiplexes
Since 25 June 2024, provincial Bill 44 small-scale multi-unit housing rules have applied to Kamloops residential lots. Near the three transit exchanges, Bill 47 Transit-Oriented Areas allow more density and have no off-street parking minimums, apart from accessible and bike parking (City zoning). What that means depends on the individual lot, so look it up on CityMap.
A City business licence is needed to rent two or more suites long-term, or to rent out both a house and its suite long-term when the owner doesn't live there. "Mortgage helper" suites should be legal and permitted. Ask for permits and final inspections, because an illegal suite can void an STR, complicate insurance and cost you at resale.
7. Sun Rivers and on-reserve leasehold
Sun Rivers is on Kamloops Indian Reserve No. 1, Tkʼemlúps te Secwépemc land that has been outside City boundaries since 1976. Buying there means buying a leasehold interest, not fee-simple land. The details vary by property, so for each one ask:
- What's the lease term, and how many years are left?
- Is the lease prepaid, or are there annual rent payments? Can they change?
- Who levies property tax and service charges, and at what rate?
- Will my lender finance this lease, and for what amortization?
- Which rules and bylaws apply (community, strata, TteS)?
Hire a lawyer who does on-reserve leasehold transactions regularly. None of this makes Sun Rivers a bad buy, and plenty of people love living there. It's simply a different kind of purchase. (Independent guide; not affiliated with Sun Rivers or Tkʼemlúps te Secwépemc.)
8. Hazard overlays: bluffs, slopes and floodplain
KAMPLAN 2025, the City's official community plan, includes development permit areas for riparian areas, the Silt Bluffs Hazard Zone and the Aberdeen Slope Hazard (KAMPLAN). On a hillside lot, check whether it's inside one and ask for geotechnical reports and title covenants. On the river flats, check floodplain mapping and get an insurance quote early. The rivers vs hillsides guide goes into detail.
9. Strata checks
For a condo or townhome, read the Form B information certificate, the depreciation report, two years of minutes, the bylaws and rules, and the financial statements. In Kamloops, pay close attention to rental and age restrictions (important for TRU investors and retirees), pet rules, special levies, and any STR bylaws, since a strata's approval is needed on top of the City licence.
10. Property tax
Kamloops set its 2026 tax rates on 21 April 2026. Taxes were due 2 July, with a 10% penalty from 3 July. You claim the Home Owner Grant through the province. The Tax Installment Plan Service (TIPS) lets you pay monthly (City). For a specific home, use the City's property tax estimator. This site doesn't quote a rate, because it depends on assessed value and property class.
Buying a new build? Development cost charges and the SD73 school site acquisition charge are usually built into the price. Water rates are rising about 10% for 2027.
11. Typical closing costs
| Cost | Notes |
|---|---|
| Property transfer tax | See above; often $0 to a few thousand for first-time buyers in Kamloops |
| Lawyer or notary | Get a quote. Leasehold files can cost more. |
| Home inspection | Add sewer-scope, septic or geotech where relevant |
| Appraisal and title insurance | Sometimes covered by the lender |
| Mortgage default insurance | If less than 20% down; added to the mortgage, but PST on the premium is due at closing |
| Adjustments | Prepaid property tax, utilities and strata fees |
| Home insurance | Get flood and wildfire quotes before removing subjects |
12. Step by step
- Get pre-approved and run the affordability calculator so you know your transfer tax and cash to close.
- Short-list two or three neighbourhoods with the comparison table and quiz.
- Set up listing alerts so you see new homes the day they list.
- View with a checklist: slope, drainage, suite permits, AC, roof, furnace age, and road access in winter.
- Write a subject-to offer covering financing, inspection, insurance, strata documents or lease review, and title.
- Remove subjects, then complete. Your lawyer handles the PTT return, exemptions and registration.
If you're also comparing Okanagan towns, Sean's Vernon listings hub covers the North Okanagan side.
Questions? Call or text
Get a straight answer about a Kamloops street, suite or price
Ask about a neighbourhood, a legal suite, a Sun Rivers lease, a TRU rental or what your home might sell for. Sean Phillips is a REALTOR® licensed across British Columbia, with a 40-year technology background he puts to work on data like the numbers on this site.