Question 1

How do I get started buying a home in BC?

Accepted Answer

Start by getting mortgage pre-approval so you know exactly what you can afford. Then connect with a buyer's agent (like me — it's free for buyers) who can guide you through the process, from finding the right neighbourhood to negotiating your offer and removing subjects.

Question 2

How much do I need for a down payment in BC?

Accepted Answer

The minimum down payment depends on the purchase price: 5% for homes up to $500,000, 5% on the first $500K + 10% on the remainder for homes $500K–$999,999, and 20% for homes $1M+. Note that homes over $1M don't qualify for CMHC mortgage insurance, so 20% is required.

Question 3

What is the First-Time Home Buyer incentive in BC?

Accepted Answer

BC offers a Property Transfer Tax (PTT) exemption for first-time buyers on homes under $500,000 (with a partial exemption up to $525,000). Federally, the First Home Savings Account (FHSA) lets you contribute up to $8,000/year (max $40,000) tax-free for your first home purchase.

Question 4

Do I need a home inspection?

Accepted Answer

I always recommend it. A professional home inspection ($450–$600) examines the structural, electrical, plumbing, and mechanical systems of the home. It's your best protection against unexpected repair costs after you take possession. I can recommend trusted inspectors in every area I serve.

Question 5

How long does buying a home take?

Accepted Answer

From the time you start actively searching to possession day, the average buyer takes 2–4 months. Once an offer is accepted, the subject removal period is typically 7–14 days, and completion is usually 30–60 days after that. This can be shorter in competitive markets.

Question 6

What are closing costs in BC?

Accepted Answer

Budget 1.5–4% of the purchase price for closing costs: Property Transfer Tax (1–3%), legal fees ($1,500–$3,000), home inspection ($450–$600), title insurance (~$300), and adjustments for property taxes/utilities. First-time buyers may be exempt from PTT on homes under $500K.

Question 7

How do I know what my home is worth?

Accepted Answer

A Comparative Market Analysis (CMA) is the most accurate way to determine your home's market value. I prepare these for free — analyzing recent sales of comparable homes in your neighbourhood, adjusting for condition, size, and features. Online estimates like Zestimate are often off by 10–15% in our market.

Question 8

What does it cost to sell a home in BC?

Accepted Answer

The main costs are: realtor commissions (typically 3–4% of first $100K + 1–2% on the remainder, split between buyer and seller agents), legal fees ($1,000–$1,500), and any pre-listing repairs or staging. These are paid from your proceeds at completion.

Question 9

How long will it take to sell my home?

Accepted Answer

It depends on the market and your pricing strategy. In a seller's market, well-priced homes often sell in 7–21 days. In a balanced or buyer's market, expect 30–60 days. The most important factor is pricing — overpriced homes sit while properly priced homes create competition.

Question 10

Should I renovate before selling?

Accepted Answer

It depends on what needs work and your timeline. Small, high-ROI improvements — fresh paint, updated fixtures, deep cleaning, and landscaping — almost always pay off. Major renovations (kitchens, bathrooms) can be harder to recoup. I'll walk through your home and give you a specific, prioritized list.

Question 11

What is the best time of year to sell?

Accepted Answer

Spring (March–May) is historically the strongest selling season in Metro Vancouver and the Fraser Valley, with the highest buyer demand and more competition among buyers. Fall (September–October) is the second-best window. Summer and December/January tend to be slower.

Question 12

What's the difference between pre-qualification and pre-approval?

Accepted Answer

Pre-qualification is a rough estimate based on self-reported income and debt — it holds little weight with sellers. Pre-approval involves a lender actually verifying your income, credit score, and assets, and issuing a conditional commitment for a specific loan amount. Always get pre-approval before making offers.

Question 13

What mortgage rate should I expect?

Accepted Answer

Mortgage rates change daily. Your rate depends on your credit score, down payment percentage, amortization, and whether you choose fixed or variable. A mortgage broker can shop multiple lenders and often find better rates than going directly to your bank. I can connect you with a trusted mortgage professional.

Question 14

What is CMHC mortgage insurance?

Accepted Answer

If your down payment is less than 20%, you're required to purchase CMHC (Canada Mortgage and Housing Corporation) mortgage insurance. The premium ranges from 2.8% to 4% of the mortgage amount depending on your down payment, and is typically added to your mortgage balance rather than paid upfront.

Question 15

Can I use my RRSP for a down payment?

Accepted Answer

Yes — the Home Buyers' Plan (HBP) allows first-time buyers to withdraw up to $35,000 from their RRSP tax-free for a home purchase. If you have a partner also buying for the first time, you can each withdraw up to $35,000 for a combined $70,000. You have 15 years to repay it to your RRSP.

Question 16

Do I need a realtor? Can't I just buy/sell myself?

Accepted Answer

You can, but most people find the process complex, time-consuming, and risky without professional guidance. For buyers, my services are free — I'm paid by the seller side. For sellers, working with an experienced agent typically nets more money than selling privately, even after commissions, due to pricing strategy, marketing reach, and negotiation.

Question 17

What areas does Amanda serve?

Accepted Answer

I serve all of Metro Vancouver and the Fraser Valley including Vancouver, Burnaby, Surrey, Langley, White Rock, Abbotsford, Coquitlam, Richmond, Delta, and Maple Ridge. If you're not sure whether I cover your area, just reach out.

Question 18

How quickly do you respond to inquiries?

Accepted Answer

I respond to all inquiries within a few hours during business hours, and within 24 hours on weekends and evenings. Real estate often moves quickly — I prioritize being available when you need me.

Question 19

Do you work with investors?

Accepted Answer

Yes. I work with investors looking at income properties, pre-sales, and land assembly in the Fraser Valley and Metro Vancouver. Investment strategies are different from primary residence purchases and require understanding of rental regulations, cap rates, and zoning. Let's talk about your goals.

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