BC Real Estate Questions, Answered

In Canada, the minimum down payment is 5% on the first $500,000 of the purchase price and 10% on any portion between $500,000 and $1.5 million. Homes priced above $1.5 million require 20% down. For a $750,000 Fraser Valley townhome, that's $50,000 minimum, plus closing costs. If you put down less than 20%, you'll also pay CMHC mortgage default insurance, which is added to your mortgage rather than paid up front. More in First-Time Home Buyers →

Budget roughly 1.5–4% of the purchase price. The largest single item is usually BC's Property Transfer Tax — 1% on the first $200,000 and 2% above that, so $14,000 on an $800,000 home — unless you qualify for the first-time buyer exemption, which fully eliminates it up to $835,000. Beyond that: legal or notary fees, home inspection, title insurance, and adjustments for prepaid property taxes. Manan will walk through a full estimate specific to your purchase. More in First-Time Home Buyers →

Yes — and you should if you can. The FHSA lets you contribute up to $8,000 per year to a $40,000 lifetime maximum, with contributions tax-deductible and qualifying withdrawals completely tax-free. The RRSP Home Buyers' Plan lets you withdraw up to $60,000 tax-free, repayable over 15 years starting the second year after withdrawal. Used together, a couple can access a substantial down payment. Start the FHSA early — contribution room only begins once the account is opened. More in First-Time Home Buyers →

Pre-qualification is a rough estimate based on numbers you self-report — it takes minutes and carries little weight with sellers. Pre-approval means a lender has verified your income, credit, and down payment documentation, and typically includes a rate hold of 90 to 120 days. In a competitive situation, a pre-approval is what makes your offer credible. Get it before you start seriously viewing. More in First-Time Home Buyers →

From first conversation to possession, most first-time purchases run six to twelve weeks, though it varies widely. Getting pre-approved takes a few days to a week. The search itself is the most variable part — anywhere from a few weeks to several months depending on your criteria and inventory. Once an offer is accepted, subject removal typically takes one to two weeks, and completion is usually 30 to 60 days after that. More in First-Time Home Buyers →

Yes — Canadian citizens and permanent residents can buy property anywhere in BC regardless of where they currently live. The federal foreign buyer ban applies to non-Canadians, not to someone relocating from Alberta, Ontario, or another province. You can sign documents remotely through electronic signature or with a notary in your home province, and your BC lawyer or notary coordinates closing whether or not you've arrived. More in Relocating to BC →

BC's Additional Property Transfer Tax is 20% and applies to foreign nationals purchasing in designated regions including Metro Vancouver and parts of the Fraser Valley — it does not apply to Canadian citizens or permanent residents relocating from another province. Separately, BC's Speculation and Vacancy Tax applies to properties left vacant, which is worth understanding if there's a gap between your purchase and your move. More in Relocating to BC →

Above roughly $1.5 million, mortgages are uninsurable in Canada, meaning a minimum 20% down payment and no CMHC insurance option. Many lenders apply tighter qualification and appraisal scrutiny at higher price points, and some cap their exposure on a single property. Buyers at this level often work with lenders or private financing that specialize in high-value residential. Manan can point you toward brokers who work in this segment regularly. More in Luxury Homes →

Both are strata-titled in BC, meaning you own your unit and share ownership of common property through a strata corporation. A condo is typically an apartment-style unit inside a larger building, with shared interior hallways, elevators, and amenities. A townhouse is a multi-level home sharing one or two walls with neighbours, usually with its own front door, attached garage, and a small private yard or patio. Townhouses feel closer to a detached home; condos generally cost less for the same bedroom count. More in Condos & Townhomes →

Strata fees are monthly payments funding shared building costs — typically building insurance, common area maintenance and cleaning, landscaping, management fees, and contributions to the contingency reserve fund. What's included varies a lot: some buildings cover heat and hot water, others don't. Amenity-heavy buildings with pools, gyms, and concierge carry higher fees. Fees are set by the strata based on its budget and aren't negotiable by individual owners. More in Condos & Townhomes →

A depreciation report is a professional assessment projecting a building's major component lifespans and repair costs over 30 years — roof, windows, plumbing, elevators, building envelope. It tells you whether the contingency reserve fund is adequate or whether a large special levy is likely. A building without a current depreciation report, or one showing a badly underfunded reserve, is a genuine risk worth understanding before your subjects expire. More in Condos & Townhomes →

A special levy is a one-time charge to owners when the strata needs funds beyond its reserve — typically for major repairs like re-roofing or envelope remediation. Yes, you can inherit one: if a levy is approved after you take possession, you pay it as the current owner, even if the underlying problem predates your purchase. This is exactly why reviewing minutes and the depreciation report before subject removal matters so much. More in Condos & Townhomes →

BC removed strata rental restriction bylaws in November 2022 under Bill 44, so stratas can no longer ban long-term rentals — any existing rental restriction bylaw is unenforceable. Stratas can still restrict short-term rentals of under 30 days (Airbnb-style), and 55+ age restrictions remain permitted. Municipal zoning and provincial short-term rental rules apply on top of strata bylaws, so confirm all three layers for the specific building and city. More in Condos & Townhomes →

The main cost is commission, which is negotiable and agreed with your realtor before listing — there's no fixed rate set by any board. Beyond that, budget for any prep or staging costs, a lawyer or notary for closing, and mortgage discharge fees if applicable. Unlike buying, there's no property transfer tax on the sale side; that's a buyer's cost. More in Sell Your Property →

If it was your principal residence for the entire time you owned it, the gain is generally exempt from federal capital gains tax under the Principal Residence Exemption. If you sell within 730 days of buying, BC's home flipping tax may also apply — up to 20% of the profit in year one, sliding to zero at the two-year mark, with only a capped $20,000 deduction for primary residences, not a full exemption. This is accountant territory for anything beyond a straightforward long-held principal residence. More in Sell Your Property →

It depends heavily on price point, condition, and current market conditions — inventory has been elevated recently, which tends to lengthen days on market compared to a tighter seller's market. Manan will give you a realistic estimate based on current activity for your specific property type and area, not a generic average. More in Sell Your Property →

It depends on the return. Cosmetic work — paint, decluttering, minor repairs — almost always pays for itself. Major renovations rarely return their full cost at resale and can delay your listing. Manan will walk your property and tell you honestly what's worth doing and what isn't before you spend a dollar. More in Sell Your Property →

BC Assessment values are calculated once a year for property tax purposes and often lag the current market by months. List price is based on recent comparable sales and current demand, which is what your home will actually transact at. The two numbers can differ significantly, especially in a fast-moving market — don't anchor your expectations to your assessment notice. More in Sell Your Property →

Yes — this is common, and there are a few ways to structure it: a subject-to-sale offer on your purchase, a rent-back arrangement with your buyer after closing, bridge financing to cover the gap, or timing both completion dates to align. Manan coordinates this regularly for sellers who are also buying and will walk through which option fits your situation. More in Sell Your Property →

A realtor's evaluation is based on current comparable sales and live market activity, which is generally reliable for setting a list price. A formal bank appraisal is a separate, more rigid process typically required for financing, often using slightly different criteria, and can land somewhat differently than a market evaluation. More in Free Property Evaluation →

Location and comparable recent sales carry the most weight, followed by size, lot, condition, and updates — kitchens and bathrooms especially. Market timing matters too: the same home can evaluate differently a few months apart if inventory or interest rates shift. Manan will walk through what's specifically driving your number, not just hand you a figure. More in Free Property Evaluation →

Not always. An occupied, well-kept, and reasonably decluttered home often doesn't need formal staging — a walkthrough with styling suggestions is usually enough. Vacant homes and awkward layouts benefit the most from professional staging, and Manan will say plainly when it's worth the cost versus when it isn't. More in Marketing Strategy →

From a comparative market analysis of recently sold and currently active comparable properties in your immediate area — adjusted for condition, lot, and finishes — not a formula or an automated online estimate. Manan will walk through the actual comparables with you before you set a number. More in Marketing Strategy →

Non-owner-occupied rental properties require a minimum 20% down payment. They don't qualify for CMHC-insured high-ratio mortgages, which are only available on owner-occupied homes. If you live in one unit of a two-to-four unit property, different rules can apply — worth confirming with your broker early, since it materially changes what you can afford. More in Investment Properties →

Rental income is taxable and must be reported, offset by deductible expenses including mortgage interest, property tax, insurance, maintenance, and property management fees. On sale, capital gains apply to non-principal-residence property. BC also has the Speculation and Vacancy Tax and, in some municipalities, an Empty Homes Tax — both generally avoided if the property is genuinely tenanted long-term. This is accountant territory, not realtor territory; Manan will flag when to bring yours in. More in Investment Properties →

A legal suite is permitted and registered with the municipality, meeting current building code and bylaw requirements. A non-conforming or unpermitted suite may function fine day-to-day but isn't registered. The difference matters concretely: lenders may not count income from an unpermitted suite, insurers may decline coverage, and the city can order it removed. Always verify status with the municipality before removing subjects. More in Investment Properties →

BC caps annual rent increases at a province-set rate, and a change of ownership doesn't reset that limit — existing tenancy rent history carries over. More in Apartment Buildings →

Owning builds equity, locks in occupancy costs, and can generate rental income from surplus space — but ties up capital and limits flexibility to relocate. Leasing preserves capital for operations and lets you resize as the business grows, at the cost of rent escalations and no equity buildup. More in Industrial & Warehouse →

In a net (or triple net/NNN) lease, the tenant pays base rent plus their share of property tax, insurance, and common area maintenance — the standard structure for industrial space in this market. In a gross lease, the landlord bundles those costs into one rent figure. More in Industrial & Warehouse →

It's a landlord contribution toward your build-out costs — flooring, fixtures, HVAC modifications, signage — negotiated as part of the lease. Not every landlord offers one. More in Retail Spaces →

In a triple net lease, the tenant pays base rent plus a proportional share of property tax, insurance, and CAM. A gross lease bundles everything into one monthly payment, usually at a higher base rent. More in Retail Spaces →

An asset sale transfers the business's assets — inventory, fixtures, the lease, and the licence — to a new entity. A share sale transfers ownership of the existing corporate entity itself, including its licence. More in Liquor Stores →

No — licence transfers go through a provincial approval process through the BC Liquor and Cannabis Regulation Branch, which can take weeks to months. More in Liquor Stores →

A Phase I Environmental Site Assessment at minimum, and often a Phase II if concerns are flagged, to check for soil and groundwater contamination from underground storage tanks. More in Gas Stations →

Primarily on income — a capitalization rate applied to net operating income, informed by occupancy, ADR, and RevPAR trends, plus the real estate's underlying value and condition. More in Hotels & Motels →

Facility licensing is tied to both the operator and the physical space meeting requirements. A change of ownership typically requires a new licence application review rather than an automatic transfer. More in Daycares & Childcare →

The ALR is a provincial land-use zone protecting farmland from non-agricultural development, with restrictions governed by the Agricultural Land Commission separately from municipal zoning. More in Farms & ALR Land →

Generally yes for a principal residence tied to farm use, subject to size restrictions and Agricultural Land Commission rules that vary by farm size and municipality. More in Farms & ALR Land →

BC's Farm Class assessment can significantly reduce property taxes for qualifying working farms — eligibility depends on income thresholds and active use, worth confirming with BC Assessment for a specific property. More in Farms & ALR Land →

It depends on current municipal zoning, OCP designations, minimum lot size requirements, and servicing availability — all requiring direct due diligence with the municipality. More in Land & Subdivisions →