How B.C.’s “BC Builds” Rental Program Creates New Opportunities for Vancouver Home Buyers
The B.C. government’s $950 million BC Builds program has ramped up construction of rental and mixed-use housing across Metro Vancouver. As your local mortgage broker in Vancouver, BC, Chad Watts – Mortgage Broker at TMG breaks down how this initiative can benefit both homebuyers and investors this June.
What Is BC Builds and Why It Matters
Launched in April 2024, BC Builds offers grants and loans to support rental housing projects (Government of British Columbia, 2024). With 1,400 homes already underway and 2,500 more projects in development, the program is significantly accelerating housing supply across the region (Government of British Columbia, 2024).
Key Impacts for Vancouver Buyers
Increased rental supply: More purpose-built rentals mean reduced competition for home buyers.
Stable investment market: New rentals help moderate rent inflation, easing cost-of-living pressures.
Developer confidence: Faster timelines and funding support may prompt construction in transit-linked neighborhoods.
What the Housing Outlook Tells Us
According to CMHC’s latest Housing Market Outlook, while condominium construction has slowed, ground-oriented housing like rowhomes is expected to rebound with mortgage rate relief in 2025 (Canada Mortgage and Housing Corporation, 2024). BC Builds adds momentum to these trends, creating a more balanced market for both renters and owners.
How This Creates Mortgage Opportunities
As a seasoned mortgage lender, Chad Watts identifies three core advantages:
Reduced competition: With more rentals available, buyers have better access to homes without bidding wars.
Investor-friendly developments: New rental projects may open doors for first-time investors in emerging Vancouver communities.
Strategic refinancing options: Homeowners can consider equity-based refinancing to invest, renovate, or fund rental suites.
Smart Mortgage Moves for June
✅ Pre-Approval Is Still Priority
Even as rentals increase, secure a pre-approved mortgage to position yourself aggressively for available homes.
✅ Diversify Investment Strategies
Use refinancing or HELOCs to access equity for investing in rental projects—especially those under BC Builds.
✅ Leverage Low Rates
With Canada’s central bank leaning toward rate stability or slight cuts, now is a good time to lock in competitive mortgage products (Canada Mortgage and Housing Corporation, 2024).
Why Work With Chad Watts – TMG?
Chad Watts – Mortgage Broker at TMG The Mortgage Group is a licensed mortgage broker in Vancouver, BC, offering:
Local market insight: Proven understanding of Metro Vancouver’s evolving real estate dynamics.
Customized financing plans: Tailored mortgage strategies for buyers and investors alike.
Regulated professionalism: Adherence to licensing standards and transparent service with integrity.
Is This the Right Time to Act?
Absolutely. The expansion of rental supply via BC Builds, paired with favorable mortgage trends, offers smart timing for first-time buyers, move-up homeowners, and residential investors alike. Working with a professional mortgage broker ensures you're prepared, informed, and ready to move.
Want Expert Mortgage Advice?
Let’s explore how Vancouver’s new rental developments and favorable borrowing conditions affect your home or investment goals. Schedule your free consultation today via our Google Business Profile and gain clarity in June’s market.
Chad Watts - Mortgage Broker at TMG The Mortgage Group
