First-Time Buyer's Complete Guide to the Lower Mainland

Buying your first home in the Lower Mainland is one of the biggest financial decisions you'll ever make. With benchmark prices well above $1 million for detached homes, preparation is everything.

The first step is getting a mortgage pre-approval. This tells you exactly how much you can borrow and locks in your rate for 90–120 days. Talk to a mortgage broker — they shop multiple lenders and often find better rates than going directly to your bank.

Next, determine your target cities. Vancouver and the North Shore command the highest prices, while communities like Surrey, Langley, and Maple Ridge offer significantly more space for the money. Each city has its own character, transit access, and school catchments worth researching.

Once pre-approved and focused on a target area, connect with a REALTOR® who specialises in that market. In BC, buyer representation costs you nothing — the seller pays the commission. Your agent will help you navigate competing offers, subjects (conditions), and the Property Disclosure Statement.

Budget for closing costs beyond the purchase price: Property Transfer Tax (1% on the first $200k, 2% on $200k–$2M, 3% above that), legal fees (~$1,500), home inspection (~$500), and strata move-in fees if buying a condo. First-time buyers may qualify for the PTT exemption on homes under $835,000.