Robyn’s take · Practical advice
Before you write an offer
Budget for independent inspection and any specialist assessments the property needs. Ask your lender about appraisal charges and what funds must be available for a deposit. Keep emergency cash separate from the money earmarked for closing.
At completion
Ask your lawyer or notary for an estimate of legal costs, title registration and adjustments. Property transfer tax, possible GST and any available exemptions depend on the transaction and your eligibility. Verify those amounts with qualified professionals and official BC resources.
Every month afterward
Include strata fees where applicable, property taxes, utilities, home insurance and maintenance. In a strata property, review the financial documents and understand the possibility of special levies. A mortgage payment is only part of the ownership budget.
Before you spend to the maximum
Price the move, initial repairs and the things the home does not include. Ask your mortgage professional for the full borrowing costs and a payment scenario that leaves breathing room. The goal is a home you can afford to live in.
General education for buyers and homeowners in BC. Your contract, financing and property details need their own review with the appropriate professionals.