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Fraser Valley Home Info

Buying a Home in BC

Your step-by-step Guide


Buying a home is one of the most important decisions you'll make in your life, and it's not something to be taken lightly. The process can be complicated and frustrating if you don't know what you're doing. Luckily for you, we've put together this guide to help walk you through the process from beginning to end!

Find a real estate agent who is right for you

Finding a real estate agent is one of the most important steps in the buying process. A good agent will help you find the right home, understand the process and make it easier for you to negotiate the best deal.

Realtors have extensive knowledge of their local real estate market and can provide valuable insights and advice on buying or selling a property. They also have access to industry specialists such as lawyers, mortgage brokers, and home inspectors who will assist them with your transaction so that all parties are represented fairly throughout this complicated process.

Get Pre-approval and Search out the Best Mortgage options

Once you've decided to buy a home, the next step is to get pre-approved for a mortgage. Getting pre-approved isn't just about finding out how much money you can borrow; it's also about finding out what kind of rates are available and what kinds of conditions will apply.

When choosing a Mortgage Broker, look for someone who works with several different lenders so that they can help find the best deal for your situation. Make sure they're trustworthy and knowledgeable--and don't forget to ask them questions!

Decide where you want to live

Before you start looking at houses, it's important to consider where you want to live. Are there schools and parks nearby? Is the commute too long or short? What are the biggest factors in deciding where a house should be located for your family?

The location of your home will affect how much time and money it takes for everyday tasks like getting groceries or dropping kids off at school. It can also affect certain features of a potential property, such as whether it has access to public transit or if there are amenities nearby like grocery stores and restaurants.

What type of home do you want to buy?

After you get pre-approval for a mortgage, then you will know the price range of homes to look for. Your realtor will be able to help you find all of the properties available in your price range and also in your desired area.

  • Single Family Home: A single family home has its own address and sits on its own lot of land (the exception being duplexes). This type of property can be anything from a small bungalow with one bedroom up to multi-million dollar mansions with 10 bedrooms or more!

  • Townhouse or Condo: Townhouses usually come with multi-levels while condos usually only have one level due to their smaller size which makes them ideal for people who don't want too much upkeep involved with maintaining large yards around their home.

Have your realtor send you properties in your price range and area of interest

Have your realtor find homes that meet your needs and fall within the range you've established.

Your realtor will have access to a wide range of properties that may not be available to the general public. They can help you find the right home for you, negotiate a good deal on the house and make sure all the paperwork is done correctly.

Choose the right home and make an offer to purchase

Once you've found the home that's right for you, it's time to put in an offer. Your agent can help guide you through this process by explaining how offers are made and what information is needed. Make sure your offer includes all of the details that suit your needs, as well as pricing that reflects the current market. Don't forget: try not to be emotional when making an offer on a property!

Prepare for your home inspection

When you're buying a home, it's important that you get the inspection done right. There are many things to consider when looking at a house and all of them can be very confusing. The home inspector will be able to tell you if there is anything wrong with your potential new home before you buy it, so it's important that they are certified and know what they are doing.

When choosing an inspector make sure that they have been trained through an accredited organization like the Canadian Association of Home Inspectors (CAHI). Also, ask if they have experience working in BC since different provinces have different building codes which may require additional testing during the inspection process depending on where your house was built. Finally, make sure that their inspection report contains more than just photos; this way when talking about what needs fixing later on down the road everyone involved knows exactly what needs attention first!

Closing the deal

Closing: the final step

Once you are ready to close the deal, you will need to sign all of the documents that have been prepared by your lawyer or notary. Your lawyer or notary will explain each document as it comes up so you know exactly what you're signing and why. Once all parties involved have signed on the dotted line, congratulations! You are now officially a homeowner of a property in BC!

Some Questions to Consider when Buying a Home in BC

Should I sell my home before I buy?

If you're buying a home in BC and are also planning to sell your current residence, then you may want to consider putting it on the market before purchasing your new home.

Make sure that the market conditions are favorable for both selling and buying before making this decision and be sure to speak to an experienced real estate agent to help you coordinate everything at the same time.

What should I consider as a First-Time Home Buyer?

As a first-time home buyer, there are many things to consider when making the decision to jump into home ownership.

If these questions sound familiar, don't worry! The good news is that there are plenty of resources available to help answer these questions. One place to start is by talking with a mortgage broker who can help walk through the process with you step by step as well as provide advice on whether or not buying now makes sense for your situation.

  • Is it the right time for you to buy your first home?

  • Do I have enough money for a down payment?

  • Can I qualify for a mortgage?

  • How is my credit history?

  • How much income do I earn, and what are my expenses like (rent/mortgage payments, utilities etc.)?

Do I need a lawyer or notary?

For most people, the answer is yes. A lawyer or notary is necessary if you are buying a house.

What is the role of a lawyer and notary?

A lawyer can help you understand your rights and responsibilities as well as make sure that any agreements made with your realtor are legal. They also know how to draft legal documents like leases, mortgages, covenants and conditions of purchase (COP). A lawyer will check that all paperwork is accurate before closing on your property so they need time to review everything properly before signing off on it too!

Should I do home renos?

If you plan to be in your home for a long time and want to increase its value, renovations may be worth it. Renovating is also an opportunity to personalize your space and make it feel like yours--something that can help with the stress of moving into a new place!

For example, if you have kids who need their own bedrooms or bathrooms, consider adding these spaces as part of your renovation project. Or if there's one room in particular that needs work (like an outdated kitchen), focus on improving that room first before tackling others.

If possible, hire professionals who know what they're doing so they'll get the job done right--and save yourself from having any bad surprises down the road!

Should I buy or rent a house in BC?

If you're planning to stay in the same area for a long time, maybe buying a house is right for you.

Some of the benefits of homeownership include:

  • Security - You own your home and can't be kicked out by a landlord or real estate company.

  • Control - As an owner, you have control over many aspects of your home such as decorating it and making repairs when needed. This might not seem like much but being able to make changes makes people happier with their homes than if they were renting them out from someone else who could change things without asking permission first!

Should I try to sell a house privately in BC?

  • If you're thinking about selling your home privately, there are pros and cons.

  • Pros

  • You can keep more of the money from the sale by not paying commission fees to an agent.

  • You may find that buyers are more interested in buying your property than they would be if it were listed with an agent because there's less competition (and more exposure).

  • Cons

  • It can take longer to sell a home when there is no listing on MLS--and sometimes even longer than if it were listed with an agent because buyers don't know about it yet!

  • When you use a realtor, you will have access to more buyers, and possibly a higher price.

  • When you use a realtor, you will have access to more buyers, and possibly a higher price.You also need to do more of the work yourself, from negotiating with buyers to handling paperwork. You will not have an agent on your side to help you through the process.

Should I make an offer on a house without a realtor in Canada?

Buying a home is one of the biggest decisions you will make and it's important to know what you're doing. If you plan to buy without a realtor, be sure that:

  • You have done your research and know what makes sense for your situation.

  • You have a plan going forward.

  • Your finances are in order so that if something goes wrong or unexpected expenses arise, you can handle them easily and move forward with confidence (and not stress). In addition, if things go well with your purchase, there are many ways that having an experienced professional on board can help ensure everything goes smoothly from start-to-finish--and save time!

What are the closing costs when buying a house in BC?

  • There are a number of costs associated with buying a house in BC, including legal fees and property transfer tax.

  • Property transfer tax is based on the purchase price of your home (or condo). It's calculated as 1% of that amount and payable at closing.


  • Home inspection fees vary depending on how extensive you want your inspection to be done and how many tradespeople are involved during the process. If there are no major problems with the property, these fees should be minimal; however, if there are issues that need to be resolved before you close on your home purchase they will likely increase significantly depending on how much work needs to be done by contractors or professionals like plumbers or electricians etc...

Do you pay tax when you buy a house in BC?

Before you buy a house in BC, it's important to understand the taxes that will be applied to the purchase. You will pay property transfer tax (PTT) and GST/PST on a new home. These are applicable even if they were previously owned by someone else or inherited from family members who have passed away. There are exemptions for some first-time home buyers, so check with an accountant before making any assumptions about what you should expect when buying a house in BC!

British Columbia has a property transfer tax, what is that?

As a resident of British Columbia, you will be subject to property transfer tax when buying or selling a home. This is not a fee; it is a tax that must be paid when you purchase real estate in BC. The amount of this tax depends on the value of your home:

  • For purchases under $200,000: 0%

  • For purchases between $200,000 and $2 million: 1% (the first $200k is exempt)

  • For purchases over $2 million: 2%


If you're looking to buy a home in BC, we hope this guide has been helpful. Remember that the most important thing is to stay organized and keep moving forward. With a little bit of research and planning ahead of time, you can make sure that buying your first home goes smoothly!