How to sell your current home, buy a larger one, and take advantage of the difference between the two price points

By Colin Colpitts, PREC

Apex Real Estate Group | Royal LePage Sterling Realty

For many homeowners, moving into a larger home has felt out of reach.

Home prices rose, borrowing became more expensive, and uncertainty caused many families to postpone a move they already knew they needed to make.

But waiting for every part of the market to feel perfect can also mean missing the opportunity that matters most.

For a move up buyer, the most important number is not simply what your current home sells for.

It is the difference between the value of the home you are selling and the price of the home you want to purchase.

When larger and more expensive properties offer better selection, less competition, or greater negotiating opportunities, moving up can become more achievable even if your current home is not selling at its highest historical value.

That is why now may be worth considering.

This does not mean every homeowner should rush to sell. It does not mean every larger property is a good purchase. It means families who have built equity may have an opportunity to make a move under conditions that reward preparation, patience, and strong negotiation.

The key is understanding whether that opportunity exists for your home, your finances, and your family.

The Move Up Advantage

Move up buyers often focus too heavily on what they may be giving up when they sell.

They remember what a neighbour sold for during a stronger market. They compare their current value with the highest price they have ever seen. They worry that selling below a previous market peak means they are making a poor financial decision.

But that only looks at half of the transaction.

You are not simply selling.

You are also buying.

If the larger home you want has become more affordable, more negotiable, or easier to purchase on favourable terms, the opportunity on the purchase may outweigh what you give up on the sale.

Consider a simplified example.

Imagine your current home may have sold for $1,000,000 during a stronger market but is now worth $950,000.

That $50,000 difference can feel significant.

Now imagine the larger home you want may previously have sold for $1,700,000 but can now be purchased for $1,550,000.

In that example, the gap between the two properties has narrowed.

You may be selling for less than you once could have, but you may also be buying the more expensive property for substantially less.

The exact figures will be different for every homeowner, but the principle remains the same.

When moving up, focus on the difference between the two properties, not only the sale price of the home you currently own.

Why Waiting for the Market to Rise Can Work Against You

Many homeowners assume they should wait until the value of their current property rises before making a move.

That sounds logical.

The problem is that the larger home they want may rise as well.

If your current home increases by five percent but the more expensive property also increases by five percent, the dollar increase on the larger home will usually be greater.

For example, a five percent increase on a $900,000 property is $45,000.

A five percent increase on a $1,500,000 property is $75,000.

Your current home may be worth more, but the gap between the two properties may have widened by another $30,000.

This is why move up buyers should not automatically wait for higher prices.

A rising market may benefit the sale, but it can also make the next purchase more expensive.

The best time to move up is often when the difference between the home you own and the home you want is manageable.

What “Now” Really Means

Saying now may be the right time does not mean creating false urgency.

It does not mean buying the first larger home that becomes available.

It means taking a serious look at your position before assuming the move is impossible.

Now may be worth considering when:

1. You have built meaningful equity in your current home.

2. Your present home no longer fits your family.

3. You can comfortably manage the payment on the next property.

4. The type of home you want offers reasonable selection.

5. Sellers in your target price range may be open to negotiation.

6. You plan to remain in the next home for several years.

7. You are prepared to make decisions based on your own numbers rather than headlines.

You may discover that the move still does not make sense.

That is valuable information too.

The purpose of planning is not to convince you to move. It is to help you understand whether you can.

Signs You May Have Outgrown Your Current Home

Most homeowners do not decide to move up because of one dramatic event.

It usually happens gradually.

A home that once worked well becomes less practical as life changes.

You may be ready for more space if:

1. Your children are sharing rooms and need more privacy.

2. You regularly work from a kitchen table or temporary desk.

3. Your home has little storage and feels constantly crowded.

4. You need more parking or garage space.

5. Your outdoor area no longer works for your family.

6. You want space for parents or extended family.

7. You are planning to grow your family.

8. Your current layout creates daily frustration.

9. You want to remain in the same general community but need a different type of property.

10. You expect to move eventually and want to understand whether making the move sooner could be more advantageous.

Wanting a larger home does not automatically justify buying one.

But when the current property affects your quality of life and your finances support the move, it deserves a proper evaluation.

Start With Your Current Home

The first step is not looking at listings.

It is understanding the property you already own.

Before you begin touring larger homes, you need a realistic answer to three questions.

What could your current home sell for?

How much equity would be available after the sale?

How would that equity affect your next purchase?

An online estimate may provide a general idea, but it cannot fully account for your condition, floor plan, renovations, exposure, parking, location within the neighbourhood, building reputation, or current competition.

A proper property evaluation should consider:

1. Recent comparable sales.

2. Homes currently competing for the same buyer.

3. Listings that failed to sell.

4. Your home’s condition and presentation.

5. Features that add value.

6. Features that may affect marketability.

7. The type of buyer most likely to purchase your home.

8. The strategy most likely to create a successful sale.

The goal is not to hear the highest possible number.

The goal is to receive the most accurate and useful number.

An inflated estimate can cause you to commit to a more expensive purchase than your sale can support.

Understand Your Usable Equity

Your usable equity is not simply the expected sale price minus the mortgage.

You may also need to account for:

1. The mortgage payout.

2. Legal or notary expenses.

3. Real estate fees.

4. Moving costs.

5. Repairs and preparation.

6. The deposit for the next purchase.

7. Funds needed for immediate improvements.

8. Money you want to keep available after moving.

Once you understand the likely sale proceeds, your mortgage broker can help determine what purchase range is realistic.

The goal should not be to qualify for the largest mortgage possible.

The goal should be to purchase a home that improves your life without making every other financial decision more difficult.

Focus on the Monthly Difference

Purchase prices receive most of the attention, but the monthly difference is often what determines whether the move is comfortable.

Review the full cost of the next property, including:

1. Mortgage payments.

2. Property taxes.

3. Home insurance.

4. Strata fees where applicable.

5. Utilities.

6. Maintenance.

7. Landscaping.

8. Commuting costs.

9. Future repairs.

10. Renovations or upgrades.

A larger home may come with more significant expenses even when the purchase price fits your approved budget.

You should understand how the move affects your monthly life, not just whether a lender will approve it.

Decide What Moving Up Means for Your Family

A bigger property is not automatically a better property.

Before beginning the search, define what problem you are trying to solve.

Do you need another bedroom?

A home office?

A larger yard?

Better parking?

A legal suite?

A quieter street?

A particular school catchment?

More space for extended family?

A larger garage?

A layout that will still work when your children are teenagers?

Separate your priorities into three groups.

Essential Features

These are the features the home must have.

Examples may include a minimum number of bedrooms, suitable parking, a home office, a specific area, or enough space for your family.

Strong Preferences

These features are important, but you may compromise when the rest of the home is right.

Examples may include a renovated kitchen, a finished basement, air conditioning, a larger lot, or a covered outdoor space.

Bonus Features

These are features you would enjoy but should not control the decision.

Examples may include a theatre, wine room, pool, mountain view, or luxury appliance package.

This process helps prevent emotion from taking over when you walk into a beautifully presented home that does not actually meet your needs.

Should You Buy First or Sell First?

This is one of the most important decisions in any move up strategy.

There is no universal answer.

Both approaches can work.

When Selling First May Make Sense

Selling first gives you greater financial certainty.

Once your sale is firm, you know how much money will be available and when it will be received.

You can shop with a defined budget and may be able to write a stronger purchase offer because your purchase is not dependent on selling your current home.

Selling first may be appropriate when:

1. You need the sale proceeds to complete the purchase.

2. You want to avoid carrying two properties.

3. Your next purchase needs to remain within a strict budget.

4. You prefer certainty over flexibility.

5. Your current home may require a longer marketing period.

6. You are willing to arrange temporary accommodations if necessary.

The main risk is that you may not find the right next home before it is time to move.

That risk may sometimes be reduced through longer dates, flexible possession terms, or temporary housing.

When Buying First May Make Sense

Buying first gives you the opportunity to secure the right home before selling your current one.

This can be valuable when your requirements are specific or suitable properties are difficult to find.

Buying first may be appropriate when:

1. You have enough financial flexibility to manage an overlap.

2. Your financing has been carefully reviewed.

3. You have a realistic understanding of your current home’s value.

4. You do not want to purchase under a deadline.

5. Your target area has limited suitable inventory.

6. You understand the cost of carrying two homes temporarily.

The biggest risk is pressure.

Once you have committed to another purchase, you may feel forced to accept a weaker offer on your current home.

Buying first requires a clear backup plan, not just confidence that your property will sell.

Can You Make an Offer Subject to Selling?

A subject to sale condition may allow you to purchase another property while protecting yourself if your current home does not sell.

However, the condition can make your offer less attractive to the seller.

Whether this strategy is realistic depends on:

1. The property you are buying.

2. The seller’s motivation.

3. The amount of competing interest.

4. Your proposed price and dates.

5. Whether your current home is already listed.

6. How your home is positioned.

7. The wording of the condition.

This can be a useful tool, but it must be structured carefully.

Preparing Your Current Home

You do not need to renovate every room before selling.

In many cases, focused preparation provides a better return than a major renovation.

The goal is to make your home feel clean, bright, cared for, and easy for buyers to imagine themselves living in.

Focus on:

1. Completing visible repairs.

2. Decluttering crowded areas.

3. Improving lighting.

4. Cleaning carpets and flooring.

5. Refreshing marked walls.

6. Organizing closets and storage.

7. Improving the front entrance.

8. Cleaning patios, decks, and outdoor areas.

9. Removing furniture that makes rooms feel smaller.

10. Presenting each room with a clear purpose.

Before spending heavily, consider whether the improvement will meaningfully affect buyer perception, photography, saleability, or value.

Pricing Still Matters

The opportunity to move up does not remove the need to price your current home properly.

Your list price affects how buyers find the property, how they compare it with competing homes, and how urgently they feel they need to act.

A strong pricing strategy should consider:

1. Recent sales.

2. Current competition.

3. Unsuccessful listings.

4. The condition of your home.

5. Your preferred timing.

6. Buyer search ranges.

7. Your next purchase.

8. The risk of remaining on the market too long.

Overpricing can reduce early interest and make buyers question why the property has not sold.

The goal is to position the home where the right buyers recognize its value.

Negotiating the Larger Purchase

The purchase side is where a move up buyer may have the greatest opportunity.

Higher priced properties often have a smaller buyer pool than more affordable homes.

That can sometimes create room to negotiate more than price alone.

Possible negotiation points may include:

1. Purchase price.

2. Completion and possession dates.

3. Included appliances or furnishings.

4. Repairs.

5. Inspection concerns.

6. Deposits.

7. Conditions.

8. Flexibility around your sale.

A property that appears out of reach at the asking price may become more realistic when the seller’s circumstances, market exposure, and motivation are properly understood.

This is why the list price should not be viewed as the final answer.

Choose a Home That Solves the Next Problem Too

A common mistake is buying a home that only solves today’s problem.

Your next home should ideally fit your life for several years.

Before purchasing, consider:

1. Whether your family may grow.

2. How your children will use the home as they get older.

3. Whether parents may move in.

4. Whether you may continue working from home.

5. How much maintenance you want.

6. Whether stairs may become a concern.

7. How the location affects work, school, and activities.

8. Whether the mortgage leaves room for travel, savings, and other priorities.

You do not need to predict every future change.

You should simply avoid moving again because you overlooked an obvious need.

Move Up Options Across the Tri Cities

The Tri Cities offer several different paths for homeowners who want more space without leaving the region.

Burke Mountain

Burke Mountain appeals to families looking for newer homes, modern layouts, additional bedrooms, and access to parks and trails.

Buyers should consider parking, yard usability, nearby construction, street elevation, and how the location fits their daily routine.

Westwood Plateau

Westwood Plateau offers detached homes and townhomes in a scenic setting with access to schools, trails, recreation, and golf.

Homes vary significantly in age, layout, renovation quality, driveway design, and outdoor space.

Ranch Park

Ranch Park appeals to buyers seeking detached homes, established streets, larger lots, and convenient transportation access.

Many properties are older, so the quality of renovations, drainage, roofing, plumbing, electrical systems, and retaining walls should be reviewed carefully.

Central Coquitlam

Central Coquitlam offers older homes, renovated properties, and new construction in a central location.

Lot characteristics, lane access, home condition, redevelopment activity, and surrounding construction can all affect value.

Harbour Chines and Chineside

These neighbourhoods are known for established streets, mature landscaping, larger properties, and access to schools and amenities.

Buyers should compare privacy, renovation history, layout, street appeal, and long term maintenance needs.

Heritage Woods

Heritage Woods is popular with families seeking larger homes, schools, trails, and a residential community setting.

Consider elevation, outdoor space, parking, commuting time, and access to daily amenities.

Port Moody Centre

Port Moody Centre may appeal to homeowners who want access to transit, Rocky Point Park, restaurants, recreation, and community amenities.

The area includes condos, townhomes, and detached homes, creating several possible move up paths.

Citadel and Lincoln Park

Citadel and Lincoln Park offer established residential communities with both townhome and detached home options.

These areas may suit buyers who want more space while maintaining access to schools, parks, trails, and major routes.

Common Move Up Buyer Mistakes

Waiting for a Perfect Market

There is rarely a moment when selling, buying, interest rates, selection, and personal timing all feel perfect.

A strong move is based on your own opportunity, not perfect conditions.

Focusing Only on the Sale Price

The sale price is only one part of the transaction.

The price and terms of the larger purchase matter just as much.

Assuming Higher Prices Will Help

If the next home rises faster in dollar terms than your current home, waiting may increase the gap.

Shopping Before Planning

Looking at homes before confirming your sale value, equity, and financing can create unrealistic expectations.

Buying for Appearance Instead of Function

A beautiful kitchen does not compensate for poor parking, the wrong location, unusable bedrooms, or a layout that does not fit your family.

Ignoring Maintenance

More space usually means more responsibility.

Review the likely cost of roofing, windows, heating, landscaping, drainage, and general upkeep.

Creating Dates That Are Too Tight

A schedule with no room for legal, financing, or moving delays can create unnecessary stress.

Making Decisions Under Pressure

Pressure can cause sellers to accept the wrong offer or buyers to remove important protections.

A clear plan helps you make decisions based on your goals rather than fear.

A Practical Move Up Plan

Step One

Determine what your current home could realistically sell for.

Step Two

Calculate your likely equity after the sale.

Step Three

Review your financing and comfortable purchase range.

Step Four

Identify the type of home and neighbourhood that fit your family.

Step Five

Decide whether selling first or buying first makes more sense.

Step Six

Prepare your current home for sale.

Step Seven

Evaluate the price gap between your current property and your preferred next home.

Step Eight

Begin searching with a clear budget and list of priorities.

Step Nine

Negotiate the sale and purchase as part of one complete strategy.

Step Ten

Coordinate the financing, dates, legal work, inspections, and move.

Frequently Asked Questions

Is now a good time to move up in the Tri Cities?

It may be, particularly when the difference between your current property and the larger home you want has become more manageable. The answer depends on your equity, financing, target neighbourhood, and the specific properties involved.

Should I wait for my current home to increase in value?

Not automatically. If the larger home also increases, waiting may widen the price gap. Both sides of the transaction need to be evaluated together.

Should I sell before I buy?

Selling first provides greater financial certainty. Buying first may provide more flexibility. The correct strategy depends on your budget, risk tolerance, and the availability of suitable homes.

How do I know what my current home is worth?

A proper evaluation should consider recent sales, current listings, unsuccessful listings, condition, location, layout, improvements, and buyer demand for your specific type of property.

Can I use my equity toward the next purchase?

Many homeowners use the sale proceeds from their current home toward their next purchase. The exact timing and financing structure should be reviewed with a mortgage broker.

What happens if I buy before my home sells?

You may need to carry both properties temporarily. This can include mortgage, utility, insurance, and maintenance costs.

Should I renovate before selling?

Targeted repairs, paint, cleaning, lighting, and presentation often provide a better balance than major renovations. The right approach depends on your home and the likely buyer.

How early should I begin planning?

Starting several months before your preferred move can provide more options. Even when the move is a year away, planning early can help you make better decisions.

Final Thoughts

Moving up is not about perfectly timing the highest sale price.

It is about understanding the opportunity between the home you own and the home you want.

A softer sale price does not automatically mean it is a poor time to move.

If the larger home offers more value, more choice, or better negotiating terms, the overall move may be more attractive than it first appears.

That is why now may be the right time to take a serious look.

Not because every homeowner should sell.

Not because every larger home is a bargain.

And not because anyone should feel rushed.

Now may be the right time because the difference between the two properties may be working more in your favour than you realize.

The first step is to understand your current home’s value, your available equity, your comfortable purchase range, and the opportunities in the neighbourhoods you are considering.

Once those pieces are clear, you can decide whether moving up makes sense with confidence.

Thinking About Moving Up?

If your family is considering a larger home in Coquitlam, Port Moody, Port Coquitlam, Burnaby, or the surrounding Greater Vancouver area, the first step is a private planning conversation.

We can review your current property’s likely value, discuss the type of home you want, compare the difference between the two price points, and build a strategy around your goals.

There is no pressure to list immediately.

Even if your move is six months or a year away, understanding your position today can help you recognize the right opportunity when it appears.

Colin Colpitts, PREC

Apex Real Estate Group

Royal LePage Sterling Realty

First Class Service. Always.

As of 2026, first-time buyers in BC have more room than they did two years ago. You can access a 30-year amortization on an insured mortgage (up from 25), the insured-mortgage price cap has been raised to $1.5 million, and between the RRSP Home Buyers' Plan ($60,000 per person, tax-free) and the First Home Savings Account ($40,000 lifetime, also tax-free), a couple can put up to $200,000 of tax-sheltered savings toward a down payment. New-build buyers also gained a federal GST rebate worth up to $50,000 in March 2026. None of that changes the fundamentals below — but it does change the math, especially for condo and townhome buyers in this market.

Buying your first home is one of the biggest financial decisions you'll ever make. Whether you're searching for a condo near the SkyTrain, a family-friendly townhouse, or your first detached home, the process can feel overwhelming. The good news is that it doesn't have to be.

At Apex Real Estate Group, we've helped first-time buyers purchase homes throughout Coquitlam, Port Moody, Port Coquitlam, and Burnaby North. Every buyer's journey is different, but the process itself stays largely the same. This guide walks you through every step, explains what's new for 2026, covers the common mistakes to avoid, and shares local insight to help you buy with confidence.

Why So Many First-Time Buyers Choose the Tri-Cities and Burnaby North

These communities continue to attract first-time buyers because they offer an excellent balance of lifestyle, convenience, schools, parks, and long-term value. Whether you're commuting to downtown Vancouver, working locally, or raising a family, you'll find neighbourhoods that fit almost every budget.

Coquitlam offers a wide variety of housing, excellent schools, SkyTrain access, Lafarge Lake, Town Centre Park, Burke Mountain, and one of the fastest-growing city centres in Metro Vancouver. First-time buyers often begin their search in Burke Mountain, Westwood Plateau, Austin Heights, Maillardville, Central Coquitlam, and Ranch Park.

Port Moody, known as the "City of the Arts," combines waterfront living with incredible parks, breweries, Rocky Point Park, and excellent transit access. Popular neighbourhoods include Heritage Woods, Newport Village, Suter Brook, College Park, and Glenayre.

Port Coquitlam continues to offer exceptional value for buyers looking for more space while remaining close to Vancouver. Popular areas include Citadel Heights, Riverwood, Oxford Heights, Lincoln Park, Glenwood, and Mary Hill.

Burnaby North has become one of Metro Vancouver's most desirable locations thanks to Simon Fraser University, Brentwood Town Centre, excellent transit, and strong long-term appreciation. Neighbourhoods worth considering include Brentwood, Capitol Hill, The Heights, Montecito, Government Road, Sperling/Duthie, and Westridge.

What's New for First-Time Buyers in 2026

This is the part of the process that changes the most from year to year — and the part most first-time buyer guides get stale on fastest. Here's what's actually in effect right now.

The insured-mortgage price cap is $1.5 million. As of December 15, 2024, the ceiling for CMHC-insured mortgages rose from $1 million to $1.5 million for first-time buyers and new-construction purchases. That matters directly in this market: it means buyers here can now put down less than 20% on homes priced well above where that used to be possible. Note this higher cap applies to first-time buyers and new builds specifically — repeat buyers purchasing resale homes are still capped at $1 million for insured financing.

Down payment minimums are tiered. For an insured mortgage, the minimum down payment is 5% on the portion of the price up to $500,000, and 10% on the portion between $500,000 and $1.5 million. Above $1.5 million, CMHC insurance isn't available at all, and a minimum 20% down payment applies. As an illustration: on a $1,300,000 detached home, the minimum insured down payment works out to roughly $105,000 (5% of the first $500,000, plus 10% of the remaining $800,000) — about 8% of the purchase price, not 20%.

30-year amortizations are back for first-time buyers. Insured mortgages were capped at 25 years for most of the past decade. As of the same December 2024 reforms, first-time buyers can access a 30-year amortization on an eligible insured purchase (new or resale), and buyers of newly built homes can access it regardless of buyer status. It comes with a small premium surcharge, but it lowers the monthly payment — worth running past your mortgage broker either way.

The First-Time Home Buyers' GST/HST Rebate is brand new. This federal rebate received Royal Assent on March 12, 2026, and offers eligible first-time buyers of new-build homes up to $50,000 back. It's administered by the CRA rather than CMHC and applies only to new construction — presale condos and new-build townhomes in Burke Mountain, Coquitlam Centre, and similar areas could qualify.

The RRSP Home Buyers' Plan (HBP) limit is $60,000 per person. You can withdraw up to $60,000 tax-free from your RRSP toward a first home (a couple who both qualify can combine for $120,000), and repay it back into your RRSP over 15 years, starting in the second year after withdrawal. Miss a scheduled repayment and that year's amount simply gets added to your taxable income — it isn't a debt collector situation, but it does cost you the tax shelter.

The First Home Savings Account (FHSA) is worth opening early even if you're years away. Introduced in 2023, the FHSA lets you contribute up to $8,000 per year, to a $40,000 lifetime maximum. Contributions are tax-deductible like an RRSP, and — unlike the HBP — qualifying withdrawals are completely tax-free with no repayment required. The HBP and FHSA can be combined for the same home purchase, which is how a couple can realistically stack up to $200,000 in tax-advantaged savings toward a down payment.

The federal Home Buyers' Amount tax credit is a smaller but easy-to-miss benefit — a non-refundable credit worth up to roughly $1,500 that most first-time buyers can claim on the tax return for the year they buy.

What This Means for BC's Property Transfer Tax

Every home purchase in BC triggers the Property Transfer Tax (PTT), calculated as 1% on the first $200,000 and 2% on the remainder up to $2 million (with higher marginal rates above that). First-time buyers get real relief here, but it's worth knowing exactly where the lines fall:

• Full PTT exemption on a qualifying home with a fair market value up to $835,000.

• Partial exemption phasing out between $835,000 and $860,000, reaching zero above that.

• A separate program — the newly built home exemption — offers a full exemption up to $1,100,000 and a partial exemption up to $1,150,000 for qualifying new construction. You can't stack both programs on the same purchase; your notary or lawyer will apply whichever saves you more.

The practical read for this market: a condo or townhome purchase in the Tri-Cities or Burnaby North frequently falls under these thresholds and can qualify for a full or partial exemption — an immediate savings of up to roughly $17,200. A detached home purchase in Coquitlam, Port Moody, or Burnaby North, where benchmark detached prices are well above $1.1 million, generally will not qualify for either exemption. That gap is one more reason condo and townhome buyers often see this market differently than detached buyers do.

A necessary caveat: none of the above is financial, legal, or tax advice. Program rules, thresholds, and eligibility criteria change, and your specific situation (income, existing RRSP room, marital status, whether you've owned property before) affects what actually applies to you. Confirm current details with a mortgage broker, accountant, and your real estate lawyer or notary before you rely on any of these numbers.

Step 1: Know Your Budget

Before viewing homes, determine what monthly payment fits comfortably within your lifestyle. Don't simply buy what the bank approves. Consider:

• Mortgage payments

• Property taxes

• Home insurance

• Strata fees

• Utilities and maintenance

• Parking costs

• Emergency savings

Buying comfortably is far more important than buying at your maximum approval.

Step 2: Get Mortgage Pre-Approval

A mortgage pre-approval helps you understand your real budget, lock in a rate, strengthen your offer, and shop with confidence. Many sellers take pre-approved buyers more seriously — in a market where financing conditions matter to a seller's certainty, a solid pre-approval is a genuine negotiating asset. With current five-year fixed rates generally landing in the low-to-mid 4% range and the Bank of Canada's overnight rate holding steady through mid-2026, a pre-approval also locks in some predictability while you shop.

Step 3: Save Your Down Payment

Many buyers believe they need a 20% down payment. In reality, as outlined above, many first-time buyers purchase with far less — as little as 5% on the first $500,000 of an insured mortgage. A mortgage professional can walk through what's realistic given your purchase price, your RRSP and FHSA balances, and your overall financial picture.

Step 4: Understand Closing Costs

Don't forget to budget for:

• Legal or notary fees

• Home inspection

• Property Transfer Tax (net of any exemption you qualify for)

• Title insurance

• Utility connections and moving expenses

• Adjustments (property tax and strata fee prorations)

Planning ahead eliminates surprises at the closing table.

Step 5: Start Looking at Homes

Every property should be evaluated for more than just appearance. Think about:

• Commute time

• Future resale value

• School catchments

• Nearby parks

• Walkability and transit access

• Development happening nearby

• Future growth in the area

Paint colours can be changed. Location cannot.

Step 6: Make an Offer

Your REALTOR® will help determine an appropriate offer price, the right subject clauses, deposit amount, and completion dates, along with the negotiation strategy for that specific property. Every property requires a different approach — what works in a multiple-offer situation on a Burke Mountain townhome looks nothing like what works on a slower-moving Central Coquitlam detached listing.

Step 7: Complete Your Due Diligence

This usually includes a home inspection, final financing approval, reviewing strata documents (for condos and townhomes), the Property Disclosure Statement, and a title review. These steps protect you before your purchase becomes firm and legally binding.

Step 8: Remove Subjects

Once everything has been approved and reviewed to your satisfaction, you'll remove your subject conditions and move toward completion.

Step 9: Completion Day

Your lawyer or notary transfers ownership and registers the property in your name at the Land Title Office.

Step 10: Possession Day

You receive the keys. Congratulations — you're officially a homeowner.

Common First-Time Buyer Mistakes

Waiting for the "perfect" market. No one consistently predicts the market. Successful buyers focus on purchasing the right property for their long-term goals rather than trying to perfectly time interest rates or prices.

Buying based on emotion. Beautiful staging doesn't always equal good value. Look beyond cosmetic finishes to the bones of the home.

Ignoring monthly ownership costs. Mortgage payments are only one part of home ownership. Budget for the complete picture — strata fees, insurance, utilities, and maintenance all add up.

Skipping professional advice. The cheapest decision today can become the most expensive one later. This applies as much to skipping a proper mortgage broker consultation as it does to skipping the home inspection.

Leaving free money on the table. It's a genuinely common mistake in 2026 specifically: buyers who don't open an FHSA early enough to build meaningful room, or who don't realize a condo purchase might qualify for a full PTT exemption, or who assume they need 20% down and never explore the insured-mortgage path.

Frequently Asked Questions

Is Coquitlam a good place to buy your first home? Yes. Coquitlam offers excellent schools, extensive parks, SkyTrain access, shopping, recreation, and a wide range of housing options. It remains one of the most popular communities for first-time buyers in Metro Vancouver.

Is Port Moody worth the higher prices? Many buyers believe so. Port Moody offers waterfront living, excellent restaurants, Rocky Point Park, breweries, and convenient transit while maintaining a strong community atmosphere.

Is Port Coquitlam more affordable? In many cases, yes. Buyers often find larger homes or townhouses for less than comparable properties in neighbouring communities.

Is Burnaby North a good investment? Burnaby North continues to benefit from rapid redevelopment, excellent transit, Simon Fraser University, Brentwood Town Centre, and strong long-term buyer demand.

Should I buy now or wait? No one can predict exactly what the market will do next. The better question is whether buying now aligns with your financial goals, lifestyle, and long-term plans. Real estate should generally be viewed as a long-term investment rather than a short-term market prediction.

How much money can a first-time buyer actually access from government programs in 2026? Between the RRSP Home Buyers' Plan ($60,000 per person, tax-free) and the FHSA ($40,000 lifetime, tax-free), a couple could theoretically access up to $200,000 in tax-advantaged savings toward a down payment, plus BC's PTT exemption (up to roughly $17,200 in savings on a qualifying purchase) and, for new builds, the new federal GST rebate (up to $50,000). Few buyers will max out every program simultaneously, but stacking two or three of them is common and worth planning for early.

Do I need 20% down to buy in Coquitlam, Port Moody, or Port Coquitlam? Not necessarily. As a first-time buyer, you can use an insured mortgage on purchases up to $1.5 million with as little as 5% down on the first $500,000 and 10% on the remainder. Above $1.5 million, or without insurance, the minimum is 20%.

What's the difference between the FHSA and the RRSP Home Buyers' Plan? The FHSA is money you contribute specifically to save for a first home — contributions are tax-deductible and qualifying withdrawals are entirely tax-free, with no repayment required. The HBP lets you pull from RRSP savings you may have already built for retirement, but that amount has to be repaid back into your RRSP over 15 years. Most mortgage brokers suggest maximizing the FHSA first, since it never needs to be paid back, then using the HBP for any additional funds needed.

Why Work With Apex Real Estate Group?

Buying your first home should be exciting, not stressful. At Apex Real Estate Group, we guide buyers through every step of the process, from mortgage preparation and neighbourhood selection to negotiations, inspections, and possession day. Whether you're buying in Coquitlam, Port Moody, Port Coquitlam, or Burnaby North, our goal is simple: to help you make informed decisions, avoid costly mistakes, and purchase the right home with confidence.

If you're thinking about buying your first home, or simply want to understand your options, we'd be happy to answer your questions — no pressure, no obligation.

Colin Colpitts, PREC Apex Real Estate Group Royal LePage Sterling Realty

This guide reflects federal and BC program rules understood to be in effect as of July 2026, including the December 2024 CMHC reforms (the $1.5M insured cap and 30-year amortization), current FHSA and RRSP Home Buyers' Plan limits, BC's Property Transfer Tax first-time buyer and newly built home exemptions, and the federal GST/HST New Home Rebate that received Royal Assent in March 2026. Program thresholds and eligibility rules change and can vary by individual circumstance. This article is general information only, not financial, legal, or tax advice — confirm current details with a licensed mortgage broker, accountant, and your real estate lawyer or notary before making decisions based on the figures above.

By Colin Colpitts, Apex Real Estate Group

If you've been sitting on the sidelines waiting for a "sign" that it's safe to buy again, this is it.

Investors have a saying for moments like this: buy the fear. It means the best opportunities usually show up exactly when everyone else feels nervous — not after the headlines turn rosy and the crowd pushes prices back up. Real estate works the same way, and right now, Greater Vancouver — especially our own Tri-Cities corridor of Coquitlam, Port Moody, and Port Coquitlam — is sitting in one of those windows.

Here's the data behind that claim, and why I think it matters for anyone thinking about buying their first home or upsizing into more space.

The Big Picture: A Market That's Quietly Turning

After a few slow, cautious years, Greater Vancouver just posted one of its more encouraging months in a while. Residential sales across the region climbed to 2,390 in June 2026, up close to 10% from June 2025. What stood out wasn't just the number — it was that every major property type (detached, attached, and apartments) posted gains at the same time, something the region's own economists flagged as unusual after years of a sideways, mixed market. That kind of broad-based movement is often an early tell that sentiment is starting to shift before prices do.

At the same time, inventory is still generous. Active listings across the region sit well above the 10-year seasonal norm, and the region-wide sales-to-active-listings ratio is hovering in balanced-market territory — not the 2021-style frenzy, and not a buyer's free-for-all either, but a market where you can still negotiate, include financing and inspection conditions, and take your time on due diligence. The average detached home price across Greater Vancouver actually sits a little below where it was a year ago, even as sales pick up.

In other words: demand is warming up, but pricing hasn't caught up to it yet. That gap is the opportunity.

Why Interest Rates Are Finally on Your Side

The other half of the "buy the fear" case is borrowing costs. The Bank of Canada has now held its overnight rate at 2.25% for six straight decisions, with the prime rate steady at 4.45% and five-year fixed mortgages generally landing in the low-to-mid 4% range. Independent economists surveyed by the C.D. Howe Institute expect the Bank to hold roughly at this level into early 2027 before any modest increase — which means the rate environment buyers are facing today is about as stable and predictable as it's been in years.

Yes, there's been some noise: an earlier-2026 technical recession, elevated oil prices tied to Middle East tensions pushing headline inflation up temporarily, and unemployment sitting near 6.5%. That's exactly the kind of uncertainty that keeps hesitant buyers on the sidelines — and exactly why the buyers who move now, while others wait for a "perfect" all-clear signal, tend to get the best selection and the least competition.

The Tri-Cities Advantage

Zoom into Coquitlam, Port Moody, and Port Coquitlam specifically, and the buyer's-market conditions are even clearer than the regional averages suggest.

Coquitlam is showing a genuine two-speed market. Detached homes are taking a reported 113 days on average to sell, with sellers landing close to — but modestly under — asking price, giving buyers real room to negotiate and time to do their homework rather than racing a bidding war. Attached homes and townhomes are moving faster, closer to 65 days, which tells you where the competition is concentrated. If you're looking to upsize from a townhome into a detached home in neighbourhoods like Burke Mountain or Coquitlam West, the detached segment is currently the more forgiving side of that trade.

Port Moody has cooled the most of the three, with prices down roughly 4–6% year-over-year across property types and detached inventory rising significantly. Detached homes and condos are both firmly favouring buyers right now; townhomes remain the exception, still fielding solid demand. For a city with SkyTrain access, waterfront trails, and some of the best schools in the Tri-Cities, that kind of pricing softness rarely lasts long once broader sentiment turns — which ties directly back to the regional shift we're already starting to see.

Port Coquitlam tells an interesting story: it's still classified as a buyer's market for detached homes, with plenty of time to negotiate and an absorption rate suggesting real inventory choice — yet recent sold prices have actually ticked up compared to the trailing 90-day average. That's often what the early innings of a turning market look like: conditions still favour the buyer, but the price trend is quietly starting to bend upward. For families being priced out of Vancouver or Burnaby, Port Coquitlam remains one of the few places in the region where a proper detached lot is still attainable in the mid-$1 million range.

Buying or Upsizing: Why Now Works for Both

• First-time buyers get something they haven't had in years: negotiating room, financing and inspection conditions, and stable, forecastable mortgage rates instead of a moving target.

• Upsizers benefit from the two-speed market directly. If your current condo or townhome is in the more competitive, faster-moving segment, you may sell well while buying into the softer, slower-moving detached segment — effectively upgrading on both ends of the transaction at once.

• Long-term owners and investors are still buying into a region with genuine structural demand: Metro Vancouver added more than 45,000 new residents over the past year, and new density and transit-oriented rezoning hasn't come close to catching up with that growth.

The Window Doesn't Stay Open Forever

This is the heart of the "buy the fear" argument. June's broad-based sales rebound, easing rate uncertainty, and a Bank of Canada that's signalling stability rather than more hikes are all early indicators that confidence is starting to return. Once it fully returns, inventory tightens, days-on-market shrink, and sellers regain the upper hand — and by then, the "fear" that created this window will be gone, along with the leverage it gave buyers.

What to Weigh Before You Act

To be fair to the other side of the ledger: the broader economy is not without risk. Inflation has been running hotter than target due to oil prices, unemployment remains elevated, and forecasts can shift with little notice. None of this is a guarantee that prices will rise on any particular timeline, and every buying decision should be weighed against your own budget, job security, and financing pre-approval — ideally with a mortgage professional alongside a REALTOR®. I'm not a financial advisor, and this article is market commentary, not personal financial advice.

What I can tell you, based on the numbers above, is that the conditions that typically precede a stronger market — rising sales, stabilizing rates, and inventory still favouring buyers — are lining up right now across the Tri-Cities.

Let's Talk Strategy

Whether you're buying your first home, moving up into more space, or just want an honest read on what your specific street or building looks like in today's data,

We'd be glad to walk through it with you.

www.ApexREG.ca

Colin Colpitts Apex Real Estate Group Serving Coquitlam, Port Moody, Port Coquitlam, and the wider Tri-Cities

Market data referenced from Greater Vancouver REALTORS® (GVR/REBGV) monthly reports, CREA statistics, Bank of Canada Monetary Policy Reports, the C.D. Howe Institute Monetary Policy Council, and local Tri-Cities market reports current as of July 2026. Figures reflect market conditions at time of writing and are subject to change — always confirm current pricing and inventory for your specific property type and neighbourhood.