5 Home Buyer Mistakes in BC That Could Cost You Thousands

Buying a home in Surrey, White Rock, or anywhere in BC?

Here’s the cold truth: most first-time buyers have no idea how many traps they’re walking into.

After helping home buyers since 2007, I can tell you this—what you don’t know can cost you. These aren’t small slip-ups. These are relationship-ruining, bank-draining mistakes that can wreck your dream of owning a home.

Let’s walk through the top 5 mistakes buyers keep making, and how to avoid every single one.

1. Ignoring the Strata Documents (If You’re Buying a Condo or Townhome)

Strata docs are like the black box of a plane—you only check them after something’s gone wrong. Big mistake.

You’re not just buying a unit. You’re buying into an entire building. That means its finances, its problems, and its future are now yours, too.

Here’s where buyers go wrong:

• They don’t review insurance premiums (which have skyrocketed)
• They skip the depreciation report, which outlines major repairs and funding gaps
• They don’t ask: What’s NOT being said in the strata minutes?

💥 Over 95% of BC condos are underfunded. That means you could be footing the bill when things fall apart.

2. Obsessing Over Purchase Price—and Forgetting the Real Costs

Getting $50K off the asking price means nothing… If the home was overpriced by $100K.

Buyers often focus so hard on the sticker price that they ignore the full picture:

• Carrying costs (insurance, taxes, maintenance)
• Future resale potential (bad floor plan? sketchy area?)
• Community changes (and not the good kind)

You need more than a “great deal.” You need to understand value—now and down the road.

3. Using Assessed Value to Judge the Market Price

This one drives me nuts. Assessed values are for tax purposes. That’s it!

They’re outdated before they’re even published, and they’re calculated by people who haven’t stepped foot in the home.

We looked at 11 recent sales in Surrey and White Rock. The sold prices ranged from 82% to 114% of the assessed value. That’s all over the place.

👉 Using assessed value to judge market price is like planning a ski trip based on July weather. It doesn’t work.

4. Writing a Terrible Offer Based on Bad Advice

Everyone has an opinion—your dad, your co-worker, your neighbor.

Problem is, they’ve probably bought two homes in their life. That’s not experience. That’s a guess.

If you lowball an offer so hard it insults the seller, you’ve now created an emotional war zone. You’re not negotiating price anymore—you’re dealing with pride, ego, and frustration.

💡 Pro tip: In South Surrey and White Rock, homes are currently selling for around 98% of list price. Don’t ruin your shot with a deal-killing offer.

5. Buying a Tenanted Property (Seriously—Don’t)

This might be the biggest risk of all.

Here’s what most buyers don’t realize:

• The tenant may refuse to leave
• They can dispute the eviction
• They can damage or steal from the property
• And if you don’t take possession on time, you could lose your mortgage rate hold

Between legal fees, delays, and damage, this “deal” can turn into a financial nightmare. If you’re not 100% ready to deal with court battles and broken fridges… just walk away.

Final Thought: Home Buying Isn’t About Luck—It’s About Preparation

If you’re planning to buy in Surrey, White Rock, or anywhere in BC, don’t wing it. Don’t rely on TikTok tips or your uncle’s gut instinct.

Know the traps. Avoid the pain. Buy smart.

And if you’re serious about buying right, don’t miss the next blog where we break down why we’ve been telling our clients for years to avoid pre-construction properties like the plague.

What if I have any questions about moving to Surrey or White Rock, BC?

Selecting an excellent real estate professional is key to a successful home purchase. The Germyn Group, with our deep understanding of South Surrey/White Rock and its real estate dynamics, is committed to guiding you every step of the way.

We invite you to book a consultation with us. During our meeting, we’ll discuss your needs, preferences, and any questions you might have about the real estate market.

As you embark on this exciting journey, remember that the right home is more than just a property; it’s a foundation for your future. With the Germyn Group by your side, let’s make your dream of homeownership a beautiful reality.