First-Time Homebuyers in 2025: What You Need to Know Now

Let me be real with you: everything you thought you knew about first-time homebuyers is probably wrong!

After nearly two decades helping people buy their first home, I figured I had it all dialed in. But a recent Financial Post article totally flipped my perspective. If you’re thinking of buying your first place, you need to hear this.

Forget the Old Stereotype

Remember the classic story? Work hard, save 5%, maybe get some help from your parents, and buy your first place in your late 20s. That dream is all but extinct.

Today’s first-time buyer is older, richer, and more stressed than ever.

• Nearly 40% are over 35 years old.
• The average income needed is about $105,000.
• Over 40% of Buyers need help from their family, averaging $140,000 in BC.
• Saving for a down payment now takes 3.5 to 7 years.

That’s not just a shift—it’s a total rewrite of the rules.

How First-Time Buyers Actually Buy Now

Here’s what’s really going on:

• Teaming up: Friends, siblings, and even parents are pooling money or living together—not out of retirement, but just to get into the market.
• Creative saving: First Home Savings Accounts (FHSAs), RRSPs, and down payments from family are the norm.
• Expanding the search: People are looking outside of expensive core areas, even considering preconstruction, co-ownership, or multi-family homes.

This isn’t just about money. It’s about a new mindset. First-timers today are strategic, scrappy, and almost never going it alone.

Feeling Behind? You’re Actually Right On Time

If you’re in your 30s, still renting, still saving, and worried you’re late to the party, that’s actually normal now. The old advice—just save 5%—doesn’t cut it anymore. You’re playing a new game with new rules.

And here’s the truth: what you can afford probably won’t match your dream list. That’s the reality in 2025, even in places like Surrey and Vancouver.

Are You Ready to Buy?

Ask yourself:

• Do you know what you qualify for?
• Do you have a savings plan or timeline?
• Are you talking to mortgage pros, realtors, or mentors?
• Do you actually have a plan?

If you answered “no” to any of these, that’s okay. That’s your starting line.

The Mindset Shift That Matters

This change isn’t just about numbers—it’s about expectations. Buyers today face more compromises, but people are still getting into homes because they build a plan and stick to it.

It takes money. It takes strategy. And it takes patience.

You’re not behind. You’re just on a different path than buyers 10 years ago.

Final Thoughts

Buying your first home today is tough, but it’s not impossible. Stay curious. Ask questions. And when you’re ready to talk it out, reach out—I’m here to help.

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