Buying
Buying a home in BC, step by step.
Buying a home in BC takes about four to eight weeks from pre-approval to an accepted offer, then four to twelve weeks to completion. Elena handles the process so you can focus on choosing the right home.
What does a buyer's agent do for me?
A buyer's agent represents you, not the seller. Elena finds and shortlists homes, checks what comparable homes actually sold for, reviews strata and property documents, writes and negotiates the offer, and manages conditions, deadlines and paperwork through to completion.
How does the buying process work?
- Pre-approval. A lender or mortgage broker confirms how much you can borrow. Banks must qualify you at the higher of 5.25% or your contract rate plus 2% (the stress test).
- Budget and must-haves. Purchase price plus closing costs: BC property transfer tax, legal fees, adjustments and, if your down payment is under 20%, mortgage insurance.
- Shortlist and viewings. Elena sends homes that fit and books viewings in one trip where possible.
- Offer. Price, deposit, completion date and conditions such as financing and inspection ("subject to" clauses).
- Subject removal. Financing is confirmed, the inspection is done and strata documents are reviewed. Then the deposit is paid and the deal is firm.
- Completion and possession. Your lawyer or notary transfers the funds and title. You get the keys on possession day.
Can I get new listings as soon as they come out?
Yes. Elena has full MLS® access and can set up a search built around your budget, areas and must-haves, so matching homes reach you as they are listed, including details public sites do not show. Ask Elena to set up your search.
What are the costs on top of the price?
In BC the main extra cost is property transfer tax: 1% of the first $200,000, 2% from $200,000 to $2,000,000, 3% above $2,000,000, and a further 2% on the residential value above $3,000,000. First-time buyers can be exempt on the first $500,000 of a home valued at $835,000 or less. Add legal fees, a home inspection, property tax and utility adjustments, and moving costs. The calculator adds these up for you.
Should I buy a house, townhouse or condo?
The right choice depends on your budget, how long you plan to stay and how much maintenance you want. Condos and townhouses come with strata fees and rules, so Elena reviews the strata documents with you before you commit.
First home or next home?
First-time buyers have their own step-by-step guide, including the property transfer tax exemption. If you already own a home, the move-up guide covers selling first or buying first, bridge financing and subject-to-sale offers.
Questions people ask
How is a buyer's agent paid in BC?
In most BC transactions the seller pays the commission for both agents from the sale proceeds, so buyers usually pay nothing directly for representation. Elena explains how this works for the specific home before you make an offer, and it is set out in writing in the buyer agreement.
Do I need a pre-approval before viewing homes?
Yes. A pre-approval tells you your real budget, shows sellers you are serious, and can hold a rate for a set period. It takes a few days through a lender or mortgage broker.
What does "subject to financing" mean?
It is a condition in your offer that lets you cancel without penalty if your lender does not approve the mortgage on this specific home by the subject removal date. Common conditions also cover the home inspection and the strata documents.
How long does buying a home take?
Typically four to eight weeks from pre-approval to an accepted offer, then four to twelve weeks to completion, depending on the dates you and the seller agree.
Ready to start looking?
A 15-minute call to set your budget and shortlist.