The BC Buyer’s Guide

Buying a home in British Columbia, without the surprises.

LANCE BROWN PERSONAL REAL ESTATE CORPORATION · ENGEL & VÖLKERS VANCOUVER / OCEAN PARK
778-846-2006 · LANCE@WESTCOASTISHOME.COM · WESTCOASTISHOME.COM

Invest in a Lifestyle

01Get your financing reality first

Before you fall in love with a house, get a mortgage pre-approval — not a pre-qualification. A pre-approval holds a rate (typically 90–120 days) and tells you what lenders will actually advance. Remember the stress test: you must qualify at a rate higher than the one you’ll pay.

02Budget beyond the price

Plan for BC’s property transfer tax (1% on the first $200K, 2% to $2M, 3% above — with exemptions for many first-time buyers and some new builds), legal or notary fees, inspection, appraisal, title insurance and moving costs. Buying strata? Read the depreciation report and minutes before you commit. Buying new? GST applies.

Deposit ≠ down payment. The deposit (typically 5%, due shortly after subject removal) is held in trust and becomes part of your down payment at completion. Have it liquid and ready.

03Use subject clauses wisely

Financing, inspection, insurance, title review, sale of your current home — subjects are your safety net. In a slower market they’re standard; in a hot one, sellers favour cleaner offers. Know which protections you can’t afford to drop. BC also gives most resale buyers a three-business-day rescission period after acceptance — a backstop, not a strategy.

04Buy the neighbourhood, not just the house

School catchments, walk-to-beach streets, commute patterns and future development drive both daily life and resale value. The same budget buys very different lifestyles in Ocean Park, Grandview or East Vancouver — local representation earns its keep here.

Ready when you are. Lance Brown lives in Ocean Park and works across the Lower Mainland. A conversation costs nothing — 778-846-2006, or start with a free home valuation at westcoastishome.com.

This guide is general information for British Columbia, not legal, tax or financial advice. Rules and thresholds change — verify current figures with your lawyer, accountant or lender. Lance Brown is an independently owned and operated broker member of Engel & Völkers Vancouver / Ocean Park. © 2026 Lance Brown Real Estate.