Buying your first home in BC.

For a home under $500,000 you need at least 5% down. Between $500,000 and $999,999 you need 5% on the first $500,000 plus 10% on the amount above. Homes at $1.5 million or more require 20% down. That ceiling moved from $1 million in December 2024, and a lot of online calculators still have it wrong. Most first-time buyers in Surrey put down between 5% and 10%.

Budget 1.5% to 4% of the purchase price. That range already includes Property Transfer Tax, plus legal fees, home inspection, appraisal, title insurance, and the first months of property tax and insurance. Qualifying first-time buyers often land near the bottom of that range because of the PTT exemption.

Permanent residents and citizens can buy freely. The federal ban on purchases by non-Canadians is in force until January 1, 2027 and does not apply to PRs, but its exceptions for work permit holders and students are narrow and condition-heavy. Non-citizens and non-PRs may also face an additional 20% Property Transfer Tax in the Fraser Valley. Your exact status determines the answer, so confirm it before writing an offer.

Likely several. The BC Property Transfer Tax exemption saves up to $8,000 on homes at $835,000 or less. The First Home Savings Account lets you save $40,000 tax-free. The Home Buyers' Plan allows a $60,000 RRSP withdrawal per person. And if you buy a newly built home, the First-Time Home Buyers' GST Rebate can save you up to $50,000 on homes under $1 million. We check all four before we start viewings.

From getting pre-approved to picking up the keys is usually 60 to 120 days. Some buyers move faster, some take longer. I don't rush any part of it — the goal is the right home, not the fastest close.

If a townhouse gets you out of renting today and into equity, it's almost always the right first step. Most of my clients start with a townhouse in Surrey or Cloverdale, live there 4 to 7 years, then trade up to a detached home.

You don't legally need one, but you should have one. In most BC transactions the seller's brokerage pays the buyer's agent commission out of the sale proceeds, so the majority of buyers pay nothing directly. Commission is always negotiable and there's no standard rate, so read the remuneration clause in any buyer agency agreement before you sign it. Going without representation rarely saves money — it just means negotiating against a professional without one of your own.

Most banks want a credit score of 680 or higher for a standard mortgage. Alternative lenders will work with 600+ but at a slightly higher rate. If your score is under 600, we'll build a 3-to-6-month plan to fix it before you apply.

With a 5% down payment and current rates around 5%, you'd need a combined household income of roughly $135,000 to $150,000 to qualify. That number moves with rates and your other debts. A pre-approval gives you the exact figure in one afternoon.

Depending on your immigration status, you may be able to buy remotely with a Power of Attorney. Financing gets more complicated as a non-resident and is subject to the federal Foreign Buyer Ban with limited exceptions. Book a call and we'll walk through your specific situation.