It’s very exciting at first to think about buying your first home. But it is also a little scary, isn’t it? Even if you know you are fully ready, sometimes, it is nerve-wracking to know where to begin. These new home buying tips will help you jump on the rail. 

If you’re looking to settle somewhere in the beautiful Fraser Valley, our advice will help you get ready! 

10 Best Tips to Buy New Homes in the Fraser Valley Market

The Fraser Valley is a warm and welcoming community for new homeowners. Communities like Abbotsford, Surrey, or the Langley area are special. 

Here are some steps to buying a house for the first time: 

1. Budget, Budget, Budget!

Before anything, know how much you are ready to spend. A rule of thumb would be to keep your mortgage payment less than 30% of your income. Remember the following:

• Your income and monthly expenses.

• Any existing debts

• Extra costs include property taxes, home insurance, and maintenance.

• Savings for a down payment

2. Get Pre-Approved for a Mortgage

Talk to a mortgage broker and get a pre-approval for the mortgage. This can give you a clear idea of what you can afford. Use our mortgage calculator to get an idea. Consider all costs – not just the mortgage payment. This includes property taxes, insurance, and potential maintenance.

3. Choose the Right Neighborhood

What matters to you most about buying a new house? Do you want to be close to work or public transit? Are good schools a priority? Do you prefer a quiet, family-friendly area or a lively neighborhood?

Ask these questions to be sure. If you love a beachside lifestyle, White Rock is great. If you need a larger home with more space, Chilliwack has beautiful listings.

4. Work with a Local Real Estate Agent

A local will always know the market and get you the best deals. If you’re having trouble finding the right realtor, talk to us. We live and work in the Fraser Valley. We can give you the best locations with the right homes.

5. Must-Haves vs. Nice-to-Haves

You need to create a separate list. What are your must-have features? These can be many bedrooms, a backyard, and schools.

And what are your nice-to-have features? This can be a finished basement or a walk-in closet. Once you’ve clicked on what you need, move to what you want!

6. Research Government Incentives

If you’re a first-time homebuyer in Canada, you can get incentives. These programs can help you save money:

• First-Time Homebuyer Incentive

• Home Buyers’ Plan (HBP)

• GST/HST New Housing Rebate

7. Visit Open Houses and Showings

Don’t complete your home purchase based on online photos. They don't tell the whole story. You can visit many homes in different neighborhoods. Compare options and get a feel for what you like best.

8. Don’t Skip the Home Evaluation

A professional home inspection can uncover a lot. Plumbing issues, electrical problems, or damage in the foundation. If you want to avoid extra costs, we can also help do a full home evaluation

9. Know Your Closing Costs and Negotiate! 

Keep a separate budget for closing costs. Remember, there might be extra costs such as:

• Legal fees

• Home insurance

• Land transfer tax

• Moving costs

Don’t be afraid to negotiate. We can help you submit a strong offer and negotiate on your behalf. You’ll get the best deal in Fraser Valley! 

10. Plan for Moving Day

Once you’ve bought your home, plan ahead for moving day. Book movers early and set up utilities in your new place. Avoid last-minute rushes by packing in advance. 

Find Your Dream Home in the Fraser Valley

See? It isn't as hard as it seems. These new home buying tips make it all simple. On top of that, if you have the right team by your side, you’ll never have to worry. You may choose professionals like the Valley Life team to help you out.