People don’t start seriously thinking about buying because rates dropped or inventory went up. They start thinking about it because something in their life shifted. A relationship. A new baby. A rental that stopped making sense. Kids hitting school age. Remote work meaning you can finally live somewhere you actually want to live.
The market creates the window. Life creates the reason to walk through it.
Right now the window is more open than it’s been in a few years — more inventory, less competition, and more room to make a thoughtful decision instead of a rushed one. If you’ve got a reason to move, here’s what I’d want you to know before you do anything else.
Get pre-approved before you start looking — not after.
Most people start searching, find something they like, then scramble to figure out financing. That’s backwards. A pre-approval tells you your real number, not an estimate. It also tells a seller you’re serious, which matters when you’re negotiating. Talk to a mortgage broker before you book a single showing.
Know the difference between what you qualify for and what you should spend.
The bank will often approve you for more than is comfortable to carry. Factor in strata fees, property transfer tax, legal fees, and the reality of your monthly life — not just the mortgage payment. A lot of buyers get surprised by the true carrying cost after the fact.
Subjects aren’t weakness — they’re protection.
A few years ago buyers were waiving inspection and financing conditions just to compete. The market has shifted. In most situations right now, you can and should include subjects. An inspection can surface $30,000 in issues you didn’t see. Don’t skip it to look stronger — use the current market conditions to your advantage.
If you’re buying a condo, read the strata documents.
This is the step most buyers skip or rush. The minutes from strata meetings will tell you about pending special assessments, ongoing disputes, deferred maintenance — things that won’t show up in the listing but will absolutely affect your costs. Budget time for this, or have someone do it with you.
If you have something to sell, the sequencing matters more than most people realize.
Sell first and you know your exact budget but you might need to bridge between homes. Buy first and you move once but you’re carrying two properties if yours doesn’t sell fast. Neither is universally right — it depends on your price point, your neighbourhood, and your financial cushion. That conversation is worth having early.
→ Download the Vancouver Home Buyer’s Guide
Or if you’d rather just talk through your specific situation, reach out directly.
Dave Masson is a Vancouver-based real estate advisor with Engel & Völkers Vancouver. He has been helping buyers and sellers navigate the Vancouver market since 2011.
778.855.8510 | [email protected] | davemasson.ca
