YOUR PERSONAL GUIDE TO BUYING YOUR HOME

Buying a home in Fraser Valley is one of the biggest decisions you will ever make. Whether you are searching in Langley, Surrey, Abbotsford, Maple Ridge, Mission, or Chilliwack — we are here to walk you through every single step with complete clarity, honesty, and zero surprises.

STEP 1 — CONSULTATION & EDUCATION

 

This is where every successful home purchase begins. Before we look at a single property, we sit down together and walk through the entire home buying process from start to finish — what to expect, how everything works, and what we will do together at every step. No question is too small. This is exactly what we are here for.

STEP 2 — MORTGAGE PRE-APPROVAL & FINANCING

 

Before we look at a single home in Fraser Valley, we get your mortgage approved. Period. Imagine finding the perfect home in Langley or Surrey — and not being able to write an offer because your financing wasn't in place. That is a position we will never let you be in.

Down Payment & Deposit

 

Your total down payment has two parts.

• The deposit — typically 5% of the purchase price — is paid 5 to 10 days after your offer is accepted, but only after you have completed all due diligence and are 100% certain.
• The remaining balance is paid a few days before Completion Day directly to your Notary or Lawyer.

How Much Do You Actually Need?

 

For homes under $1.5 million, here is how the minimum down payment works in BC:

• 5% on the first $500,000
• 10% on the remaining balance
• 20% if the purchase price is above $1,500,000
  

For example, on an $800,000 home: 5% of the first $500,000 = $25,000, plus 10% of the remaining $300,000 = $30,000.

Total minimum down payment = $55,000.

Programs to Help First-Time Home Buyers in BC

 

Home Buyers Plan (RRSP)

 

First-time buyers can withdraw up to $60,000 from their RRSPs tax-free toward a home purchase, repayable over 15 years.

Note that contributions must be on deposit for 90 days before they can be used.

First Home Savings Account (FHSA)

 

A Canadian registered plan allowing first-time buyers to save up to $40,000 tax-free. Contributions are tax-deductible like an RRSP, and withdrawals are non-taxable like a TFSA. The annual contribution limit is $8,000, and there is no waiting period to use the funds.

Mortgage Default Insurance (CMHC)

 

When you put less than 20% down, your lender requires Mortgage Default Insurance through CMHC, Canada Guaranty, or Sagen. What most people don't know — once you have this insurance, the bank views you as low risk, which means insured buyers often get a slightly better interest rate. The insurance actually works in your favour.

Closing Costs

 

Beyond your down payment, here are the closing costs to budget for in BC:

Property Transfer Tax (PTT)

• 1% on the first $200,000
• 2% on the balance up to $2 million
• 3% on the balance up to $3 million
• 5% above that.

First-Time Buyer PTT Exemption

 

If you are a first-time buyer in BC purchasing a resale home, you can save up to $8,000 through the PTT exemption on homes up to $835,000, with a partial exemption up to $860,000. You must move in within 92 days of registration.

New Build PTT Exemption

 

For newly built homes under $1,100,000 in BC, you may qualify for up to $20,000 in PTT savings. Thats all Cash you are saving.

First-Time Home Buyers GST Rebate

 

As of March 2026, the federal government eliminated 100% GST for eligible first-time buyers on new homes valued up to $1 million and partially for homes valued between $1 million and $1.5 million, providing a maximum saving of $50,000.

Additional closing costs to budget for include appraisal fees, home inspection fees (typically $400–$600), notary or lawyer fees (base fees typically under $1,200 plus third-party costs), adjustment fees for prepaid strata fees and property taxes, moving expenses, and yes — budget a little for furniture too.

 
STEP 3 — SEARCH HOMES

 

Once your mortgage is approved, the exciting part begins. We set up your personalized MLS search and send you every listing that fits your criteria the moment it hits the market — whether that's a townhouse in Langley, a single-family home in Abbotsford, or a condo in Surrey. You can also search at viewfraservalleylistings.com, realtor.ca, or rew.ca.

 
STEP 4 — WRITE YOUR OFFER

 

When we find the home we love and it fits our budget, we prepare a Contract of Purchase and Sale. The most important elements include the purchase price, deposit amount, subjects and conditions (financing, home inspection, title review, insurance, strata documents), completion and possession dates, and all included items — appliances, garage door openers, keys, and more. We go through every detail carefully together.

 
STEP 5 — NEGOTIATION

 

Our goal is to get you the home you love at the best possible price. Once the offer is submitted, the sellers will accept, reject, or counter. A counter offer is a good sign — it means they want to make a deal. We discuss every response together, I give you my honest read of the situation, and you always have the final say. If a deal doesn't make sense for you, we walk away and find a better one.

 
STEP 6 — DUE DILIGENCE & SUBJECT REMOVAL

 

Once we have an accepted offer, we have typically 5 to 7 business days to complete our due diligence. This includes financing confirmation from your lender, a certified home inspection (Arpit attends every single one), title review by your lawyer or notary, review of the Property Disclosure Statement, home insurance confirmation, and where applicable — oil tank inspection, well water testing, septic system inspection, mold and air quality testing, and city hall verification for permits and zoning. We leave nothing to chance.

 
STEP 7 — SUBJECT REMOVAL & DEPOSIT

 

Once you are satisfied with everything — and only when you are 100% certain, not 99% — you sign the Subject Removal Form. This is your full commitment to the purchase. The deposit is then paid the same day or the next day and held securely in trust by our brokerage until Completion Day.

 
STEP 8 — COMPLETION & ADJUSTMENT DAY

 

Completion Day is when your lawyer or notary registers the title of the home in your name. You are now legally and officially a homeowner. Your lender sends the mortgage funds to the seller's side, and all financial adjustments — strata fees, property taxes — are settled in your Statement of Adjustments. We have planned for every one of these numbers from day one. No surprises.

 
STEP 9 — POSSESSION DAY

 

This is the day you get the keys. You drive to your new home in Fraser Valley, put the key in the door, and step inside. This is not just a transaction to us — it never was. It is your life, your family, and your future. From everyone at View Fraser Valley Real Estate Group — welcome home.

 
Ready to Start Your Home Search in Fraser Valley?

 

Whether you are a first-time buyer in Langley, looking for a family home in Abbotsford, or exploring condos in Surrey — we are ready to guide you every step of the way.

📞 Call or text: +1 (778) 707-0020

📧 Email: info@arpitbajaj.ca

🔗 Search homes: www.viewfraservalleylistings.com