Buying a home in a new country can feel overwhelming. The financing system may be unfamiliar, professional roles may be different, and it can be difficult to know whose advice to trust.

The process becomes much more manageable when you begin with reliable information and the right professional support. Here are the main steps newcomers should consider when preparing to buy a home in Greater Vancouver.

1. Start building your Canadian credit history

Your credit history is one of the factors lenders consider when reviewing a mortgage application. However, Canadian financial institutions may not automatically recognize the credit history you established in another country.

For this reason, it is helpful to begin establishing Canadian credit as soon as possible. This may include opening appropriate accounts with a Canadian financial institution, using credit responsibly and making all payments on time.

A bank or mortgage professional can explain what documentation may be required and how your current financial circumstances could affect your options. In some situations, lenders may also consider alternative documentation when a newcomer has a limited Canadian credit history.

Starting these conversations early gives you time to understand your position before you begin seriously viewing homes.

2. Speak with a bank or mortgage broker before searching

Before deciding which properties to view, speak with a bank or licensed mortgage broker about your financing.

A mortgage pre-approval can help you understand approximately how much you may be able to borrow. It also helps establish a realistic price range based on your income, existing debts, available down payment and other financial obligations.

A pre-approval is not a guarantee that a particular property will receive final financing approval. However, it gives you a much clearer foundation for your home search and reduces the risk of focusing on properties outside your budget.

3. Build the right professional team

A home purchase involves several professionals, each with a different role.

Your team may include:

• A Realtor who helps you understand the local market, identify suitable properties, prepare an offer and manage the purchase process

• A bank representative or mortgage broker who helps you explore financing

• A qualified home inspector who examines the property’s condition

• A lawyer or notary who prepares the legal documents, transfers ownership and handles the completion of the purchase

Speaking with qualified professionals early can help you understand the process from beginning to end. It also gives you reliable places to bring your questions as they arise.

4. Decide what your household truly needs

Finding the right home involves much more than choosing an attractive property.

For many newcomers, practical factors have the greatest effect on everyday life. These may include:

• Access to public transit

• Distance from work

• School locations

• Proximity to family or community

• The number of bedrooms and amount of living space

• Property type and maintenance requirements

• Monthly housing expenses

• Plans for the next several years

Every buyer’s needs and budget are different. A suitable home should support your daily routine without creating unnecessary financial pressure.

5. Focus the property search

Once I understand a client’s budget, location preferences and household needs, I email them properties that fit those criteria.

This creates a more focused search. Instead of trying to sort through every available listing, buyers can concentrate on the properties most likely to work for them.

As we review listings and visit homes, we can refine the search further. Buyers often discover that some priorities are essential, while others are more flexible than they initially expected.

6. Compare the home and the neighbourhood

The property itself is only one part of the decision. It is also important to consider how the surrounding neighbourhood will affect your daily life.

Ask questions such as:

• How long will the commute to work take?

• Is reliable public transit nearby?

• Are the appropriate schools accessible?

• Are groceries, medical services and other necessities convenient?

• Does the neighbourhood suit the household’s current and future needs?

• Are the total housing costs comfortable within the budget?

Visiting the area at different times can also help you understand traffic, noise, transit frequency and the overall character of the neighbourhood.

7. Prepare an offer carefully

When you find a suitable property, your Realtor will help you review the listing information, discuss recent market activity and prepare an offer.

Depending on the property and circumstances, an offer may include conditions related to financing, inspection or the review of relevant documents. The appropriate terms will depend on the transaction, so it is important to receive professional guidance rather than relying on a standard approach.

Before signing, ask questions about anything you do not understand. Buying a home is a major financial and legal commitment, and you should feel informed at every stage.

8. Complete the legal process

Once the conditions have been addressed and the transaction moves toward completion, your lawyer or notary will prepare the legal documents, coordinate the transfer of funds and register the property in your name.

Your mortgage professional, Realtor and legal professional each contribute to the process, but they have different responsibilities. Staying in communication with the entire team can help prevent delays and ensure that required documents are provided on time.

Be cautious with informal advice

Friends and family may genuinely want to help, especially if they have lived in Canada longer or have purchased property themselves. Their experiences can provide useful perspective, but their circumstances may be very different from yours.

Mortgage requirements, legal considerations, market conditions and individual finances can all change. Treat informal advice as personal experience, and rely on qualified professionals for guidance about your own purchase.

A guided beginning to your home search

Buying a home in Greater Vancouver is a significant decision, but newcomers do not have to navigate it alone.

By establishing credit early, understanding your financing, identifying your priorities and working with knowledgeable professionals, you can approach the process with greater clarity and confidence.

I have been helping buyers and families navigate the Greater Vancouver real estate market since 2002. If you are new to Canada and considering buying a home, I would be pleased to help you understand your options and begin a focused property search.

This article provides general information only. Mortgage, legal and financial circumstances vary, so buyers should obtain advice from the appropriate qualified professionals.

When buying a condo or townhome in Greater Vancouver, it can be tempting to compare properties by looking at their monthly strata fees.

A lower fee may seem like a better deal—but the amount alone does not tell you whether a strata corporation is being managed responsibly or whether significant expenses may be coming.

Before purchasing a strata property, here are six important questions to ask.

1. What Does the Strata Fee Cover?

Strata fees help pay for the operation and maintenance of the common property. Depending on the complex, they may cover:

• Building insurance

• Common-area utilities

• Property management

• Caretaker or concierge services

• Cleaning and landscaping

• Garbage and recycling

• Elevator servicing

• Routine repairs and maintenance

• Contributions to the contingency reserve fund

Every property is different. Some strata fees may also include services such as gas, heat or hot water, while others may not.

Review the current budget carefully so you understand exactly what is included and how the money is being spent.

2. Will You Still Need Personal Insurance?

Yes. The strata corporation’s policy insures the building and common property, but it does not replace the buyer’s own condominium insurance.

Owners generally need personal coverage for their belongings, liability, improvements made to the unit, additional living expenses and other potential costs that may not be covered by the strata corporation’s policy.

Before purchasing, review the strata’s insurance summary and speak with an insurance professional about the coverage you will need as an owner.

3. Is a Low Strata Fee Actually a Good Sign?

A low strata fee can be attractive, but it is not automatically a sign of a well-managed building.

It may mean the property is inexpensive to operate. However, it could also mean the strata is contributing too little toward future repairs or postponing necessary maintenance.

A higher fee may include more services, stronger contributions to the contingency reserve fund or expenses that another complex charges separately.

Instead of asking only whether the fee is high or low, ask whether it is realistic for the building’s age, amenities and maintenance requirements.

4. What Do the Financial Records and Reports Reveal?

The contingency reserve fund is intended to help pay for major repairs and replacements that do not normally occur every year.

Find out how much money is currently in the fund, but do not stop there. Ask what expenses have already been approved and what work may still need to be completed.

The depreciation report is also important. It helps identify major building components, estimates when they may need repair or replacement, and projects the associated costs.

Buyers should also review any available engineering or inspection reports. These documents may contain important information about the building envelope, roof, plumbing, balconies, windows or other systems.

A large contingency fund can sound reassuring, but it must be considered alongside the building’s future needs.

5. Are There Any Special Levies?

A special levy is an additional amount owners may be required to pay for a particular project or expense.

Find out whether any special levies have already been approved and whether others are being discussed or considered. Review the estimated cost, the payment schedule and the purpose of the work.

It is also essential to determine who will be responsible for paying an approved levy—the seller, the buyer or both. This can depend on the timing and the terms of the purchase contract, so it should be clarified before conditions are removed.

Review at least the previous 24 months of strata council, annual general meeting and special general meeting minutes. The minutes may reveal projects or concerns that have not yet resulted in a formal levy.

6. What Is the Condition of the Building?

The age of the building matters, but its maintenance history matters just as much.

Important questions may include:

• Has the building been rainscreened?

• How old is the roof?

• Have the windows or balconies been replaced?

• What is the condition of the plumbing?

• How old are the boilers or hot-water tanks?

• Are any major repairs expected?

• Have owners been discussing future upgrades or special levies?

The answers help create a clearer picture of what the property may cost to own—not only this year, but over the years ahead.

Read the Documents and Arrange an Inspection

A strata purchase involves more than evaluating the individual unit. You are also buying into the financial health, maintenance history and decision-making of the entire complex.

Read the strata documents and meeting minutes carefully, ask questions about anything unclear, and arrange a professional inspection. An inspection may identify concerns inside the unit and provide useful observations about visible building components.

The goal is not necessarily to find a building with the lowest monthly fee. It is to understand what you are buying, how the property has been maintained and whether you are comfortable with its financial outlook.

If you are considering a condo or townhome in Greater Vancouver, I would be happy to help you review the available information, ask the right questions and make a confident, informed decision.

Maria Menjou
Greater Vancouver REALTOR®
Guiding Families Home Since 2002

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