Buyer Guide

First-Time Buyer's Guide to the Fraser Valley

Buying your first home in Langley, Surrey, or Abbotsford comes with a few BC-specific rules worth knowing before you start touring homes.

1. Get pre-approved first

A pre-approval tells you your realistic budget and locks in a rate for a set window, so you're not falling in love with homes above your range. Run the numbers yourself first with the affordability calculator, then confirm with a mortgage broker.

2. Know the First-Time Home Buyers' exemption

BC offers a full or partial exemption from Property Transfer Tax for qualifying first-time buyers, generally on homes priced up to the high $800,000s, with the exemption phasing out as price increases. Use the Property Transfer Tax calculator to see your estimated exemption.

3. Budget beyond the mortgage payment

Property tax, strata fees (for condos and townhomes), home insurance, and utilities all add to your monthly carrying cost. Lenders account for most of this through GDS/TDS ratios — build the habit yourself before you're locked into an offer.

4. Decide where trade-offs make sense

Langley, Surrey, and Abbotsford each offer different balances of commute time, lot size, and price. A slightly longer commute can meaningfully expand what property type and size are realistic for your budget.

5. Work with someone who'll tell you the truth

The right agent will tell you when a property isn't a fit — not just show you more listings. That's worth more than a slicker app.