Buyers

Your path to
ownership.

Vancouver's real estate market is one of the most competitive in the world. Having the right guide, someone who knows the market, understands the process, and always puts your interests first makes all the difference.

The process

Your buying roadmap

01
Foundation
Know your budget
Before anything else, get clear on what you can actually afford. In BC, homes under $500K require a minimum 5% down. Between $500K and $1M it's 5% on the first $500K and 10% on the remainder. Over $1M requires 20% minimum. Factor in closing costs (typically 2 to 4% of purchase price) for PTT, legal fees, inspections, and moving.
02
Critical first step
Get pre-approved
A pre-approval establishes what you can borrow and holds your rate while you shop. Your lender will want proof of income, recent tax returns, employment confirmation and a credit check, and will qualify you against the federal stress test rather than your contract rate.
03
Your team
Choose your agent
Your buyer's agent works exclusively for you, at no cost to you, since the seller pays all commissions. A strong agent gives you access to listings before they hit the market, writes competitive offers, negotiates on your behalf, and guides you through every complication. Interview agents, check their track record in your target neighbourhoods, and make sure their communication style matches yours.
04
The search
Search and shortlist
Define your must-haves versus nice-to-haves. In Vancouver, location matters enormously. Proximity to SkyTrain, school catchments, and walkability all drive long-term value. Attend open houses and private showings. Take detailed notes. Your agent will give you off-market access and insider knowledge on which buildings and streets have hidden issues buyers often miss.
05
Moving fast
Make an offer
When you find the right property, I prepare a Contract of Purchase and Sale setting out your price, your subject conditions and the completion date. A deposit of 5% follows once subjects are removed, not on acceptance. In competitive situations the terms around the price often matter as much as the number itself.
06
Due diligence
Subject removal
Once your offer is accepted you have a defined period, usually 5 to 7 business days, to satisfy your conditions. That means formal mortgage approval, a home inspection, a review of the strata documents where they apply, and a title search. It is the window in which you can still walk away without penalty if something significant comes up.
07
Legal
Work with your notary or lawyer
A BC notary or real estate lawyer handles the legal transfer of title. They'll confirm the title is clear of liens, calculate and collect your Property Transfer Tax, register you as the new owner, and coordinate with your lender to release funds on closing day. Legal fees typically run $1,200 to $2,000. Book them early, because good ones get busy.
08
Possession day
Keys in hand
On completion day, your lawyer releases funds to the seller's lawyer and title transfers. On possession day, sometimes the same day and sometimes later, you get your keys. Do a final walkthrough before possession to confirm the property is in the condition you agreed to. Change the locks, set up utilities, and celebrate, because you own it.
Financing

Down payment requirements

Purchase price
Min. down payment
Notes
Under $500K
5%
CMHC insurance required. Can use RRSP or FHSA funds.
$500K to $999K
5 to 10%
5% on first $500K, 10% on remaining balance. CMHC required.
$1M to $1.49M
5 to 10%
5% on first $500K, 10% on amount above $500K. CMHC required.
$1.5M and above
20%
Conventional mortgage. Some lenders require 25 to 35% at this range.
Government programs

First-time buyer programs

BC PTT First-Time Buyer Exemption
Save up to $8,000
Full exemption on the first $500,000 for homes valued at $835,000 or less, with a partial exemption up to $860,000. You must be a Canadian citizen or permanent resident, have lived in BC for a year or filed two BC tax returns in the past six years, and never have owned a principal residence anywhere in the world.
Home Buyers' Plan (HBP)
Up to $60,000 tax-free
Withdraw up to $60,000 from your RRSP, or $120,000 as a couple, tax-free toward a down payment. Repaid over 15 years, or the shortfall is added to your taxable income. Withdrawals made between 2026 and 2028 do not begin repayment for five years. Contributions must sit in the account 90 days before withdrawal to stay deductible.
First Home Savings Account (FHSA)
$40,000 lifetime contribution
Contributions are tax-deductible like an RRSP, and withdrawals for a first home are tax-free like a TFSA. Annual limit of $8,000. Launched 2023. If you haven't opened one yet, open it now even if you're years away from buying.
New Construction PTT Exemption
Full exemption under $1.1M
Buying a newly built home? Full PTT exemption on homes up to $1,100,000 (updated April 2024). Partial exemption up to $1,150,000. Applies to new builds, newly subdivided lots, and properties that have never been occupied.
First-Time Home Buyers’ GST/HST Rebate
Up to $50,000 on a new home
Rebates the full GST on a newly built home priced up to $1,000,000, phasing out between $1,000,000 and $1,500,000. Applies where the contract with the builder was signed on or after March 20, 2025 and before 2031. Relevant to most presale purchases.
BC Home Owner Grant
$770 in 2026, $570 from 2027
Annual grant reducing property tax on your principal residence. The regular grant falls to $570 on January 1, 2027, and the additional northern and rural amount is being eliminated. Reduced above an assessed value threshold. Apply each year through the province, not BC Assessment.
Budget planning

Hidden costs to plan for

Property Transfer Tax
$8,000 to $60,000+
1 to 5% depending on price. First-time buyers may qualify for full or partial exemption.
PTT calculator
Legal fees
$1,200 to $2,000
Notary or real estate lawyer handles title transfer, title insurance, and mortgage registration.
Home inspection
$400 to $600
Strongly recommended on all resale properties. Identifies structural, electrical, and plumbing issues.
CMHC insurance
2.8 to 4% of mortgage
Required when down payment is less than 20%. Can be added to your mortgage or paid upfront.
Moving costs
$1,500 to $5,000
Depends on distance, volume, and whether you hire professionals or do it yourself.
Property insurance
$1,200 to $3,000 per year
Required by your lender before closing. Get quotes from multiple insurers.
Property tax adjustment
Varies
You'll reimburse the seller for any prepaid property taxes covering your period of ownership.
Title insurance
$150 to $350
Protects against title fraud, survey errors, and undisclosed liens. Usually arranged by your lawyer.
Common questions

Buyers FAQ

From the time you start seriously searching to getting keys, expect 2 to 6 months in a typical market. Once an offer is accepted, closing typically takes 4 to 8 weeks. In hot markets you may move faster; in slower conditions there's more negotiating time. Pre-approval is the one thing you can do now to shorten the timeline when you're ready.
No. In BC the seller pays all real estate commissions. As a buyer, you get full representation from your agent at no direct cost to you. Your agent's fee comes from the commission the seller has agreed to pay their listing agent, who then shares a portion with the buyer's agent.
A subject-free offer removes the conditions from the contract, so acceptance creates a binding agreement. In a multiple-offer situation it often carries more weight than price alone, which is why it is common here. The trade-off is that the protections you would otherwise rely on are gone. If financing does not come through, the deposit is typically forfeited and the seller may pursue further damages. BC's three business-day rescission period offers a limited way out for a fee of 0.25% of the purchase price, though it does not apply to presales, auctions, leasehold or court-ordered sales. Whether the risk is worth taking depends on how firm your financing is and how much you already know about the property, and that is a conversation worth having before you are in one.
A rejected offer is very common, especially in Vancouver. Your agent will often be able to get feedback on why, whether price, conditions, or closing date, and use that to craft a stronger second offer or find a better property. Keep your emotions in check. The right home will come.
Foreign nationals face additional costs: a 20% Foreign Buyer Tax (Additional Property Transfer Tax) and restrictions under Canada's Prohibition on the Purchase of Residential Property by Non-Canadians Act, in effect until at least 2027. There are some exemptions. Work permit holders and students in certain circumstances may be able to purchase. I strongly recommend speaking with a real estate lawyer before proceeding.
Ready to start?
Let's find your home.

Tell me what you're looking for and where you are in the process. No pressure, no obligation.

Get in touch
Let's connect.