Residential
Buying a home
Buying a home in Vancouver comes with a lot of moving parts. I help you find the right place, pay a fair price and protect yourself with the right conditions. Get pre-approved first, and budget for property transfer tax and legal fees.
Residential real estate
What buying a home involves
A plain explainer if you’re new to this.
- What it is
Buying a place to live
That could be a house, a condo or a townhouse.
- How it works
Offer, subjects, completion
You make an offer with subjects such as financing and inspection. Most BC home purchases also have a three-business-day rescission period after acceptance, with a fee of 0.25 percent of the price if you cancel.
- Costs
Down payment and taxes
You’ll need a down payment, legal fees and usually property transfer tax. First-time buyers may qualify for an exemption.
- What I check
The home and the paperwork
I look at the price against recent sales, the inspection, the title, and strata documents if it’s a strata.
General information, not tax or legal advice. Rules and rates change, and every situation is different. Talk to your lawyer and accountant before you act on anything here.
Before you look
- Get pre-approved with a lender or mortgage broker, so you know your real budget.
- Write down what matters: area, size, commute, schools, parking, pets, outdoor space.
- Budget for closing costs: Property Transfer Tax, legal fees, inspection, insurance and moving. The home buying costs guide has a calculator.
Finding the right place
I search every listing and help you compare homes on what matters: price per square foot, strata fees, the building’s condition and the area. For condos and townhouses, I read the strata documents with you before you commit.
Making an offer
In BC, offers usually include subjects: conditions such as financing, inspection and review of strata documents. They protect you, and removing them is a big step. I can help you set the price and the subjects to fit the market and your comfort level.
BC also has a home buyer rescission period. For most residential purchases, you can cancel within three business days of acceptance by paying a fee of 0.25% of the price. Ask your lawyer or notary how it applies to your purchase.
After acceptance
Inspection, financing and strata review, then subject removal, the deposit, and completion with your lawyer or notary. I keep track of every date.
Questions people ask
How much do I need for a down payment in Canada?
It depends on the price. Federal rules set the minimums, and your lender can give you your exact number.
What are subjects in a BC offer?
Conditions that must be met or removed before the sale is firm, such as financing, inspection and strata document review.
What is the rescission period in BC?
For most residential purchases, buyers can cancel within three business days of acceptance by paying a fee of 0.25% of the price. Some properties are exempt. Confirm with your lawyer or notary.
What should I gather, ask and watch for?
Documents to gather
- Mortgage pre-approval
- Down payment proof
- ID for the FINTRAC check
- A list of needs and nice-to-haves
Questions to ask
- What are the strata fees and the contingency reserve fund? (strata)
- Any special levies coming?
- What did similar homes sell for recently?
- What does the inspection say?
Common mistakes
- Removing subjects before reading the strata documents
- Forgetting PTT and closing costs
- Waiving the inspection to win
- Stretching the budget to the maximum approval
Typical timeline
- Weeks 1 to 2Pre-approval and budget
- SearchWeeks to months
- SubjectsOften about 5 to 10 days
- CompletionOften 30 to 60 days
Typical ranges. Your lease, lender and the City set the real dates.
Go deeper
If you’re looking for more details
A buying timeline
Typical estimate, not an official figure. The rescission period is set by law.
| When | Step |
|---|---|
| 3 to 6 months before | Pre-approval, budget, wish list |
| Search | Tours, open houses, research |
| Offer | Price, deposit, subjects and dates |
| After acceptance | Three business days to rescind, for 0.25% of the price |
| Subjects | Financing, inspection, strata documents |
| Completion | Lawyer or notary, keys on possession day |
Typical estimates from my own deals, not rules. Your lease, the property and the market set the real timeline.
Common mistakes
- Shopping before getting pre-approved
- Removing subjects before reading the strata documents
- Forgetting closing costs in the budget
Search
Not quite your situation? Search
Next step
Thinking of buying a home?
Tell me what you’re looking for and your timing. I can help you make a plan.