Buying your first home is one of the most exciting — and sometimes overwhelming — experiences in life.

When I bought my first home, I was thrilled, nervous, and completely consumed by the details. Like most first-time buyers, I had a budget, a dream list, and a lot of “what ifs.” Now, after years of helping clients through the same process, I can look back and say there are three big things I wish I’d known sooner.

If you’re thinking about taking the leap into homeownership in Victoria, these lessons might save you time, stress, and a few sleepless nights.

1️⃣ Neighbourhoods Matter More Than You Think

When I first started looking for a home, I was laser-focused on the house itself — layout, finishes, backyard size, and how close it was to work. What I didn’t fully appreciate was how much where you buy shapes how you live.

In Victoria, every neighbourhood has its own rhythm and character. Fernwood has that artsy, community feel; Cook Street Village offers endless walkability and cafés; Saanich is family-friendly with easy access to trails and parks; and Esquimalt is vibrant, coastal, and still surprisingly affordable.

Your neighbourhood becomes part of your everyday story — where you grab your morning coffee, walk your dog, or meet your neighbours at the market. The right fit isn’t just about the walls around you, it’s about the life you’ll build within and beyond them.

✨ Pro Tip: Before making an offer, spend a weekend exploring the area at different times of day. Grab lunch locally, chat with shop owners, and see if it feels like “you.”

💬 Looking for local insight? I love helping clients match their lifestyle to the right neighbourhood — not just the right home. Let’s chat about areas that may work well for you.

2️⃣ Hidden Costs Add Up

When I was budgeting for my first home, I focused on the down payment and mortgage — and completely underestimated the smaller costs that come with ownership.

Things like inspections, lawyer fees, insurance, moving costs, property transfer tax, and home maintenance all add up. None of these are deal-breakers, but they’re worth planning for so nothing catches you off guard.

When I work with first-time buyers now, one of the first things we do is map out a complete budget — not just for the purchase, but for those first few months of homeownership. That clarity changes everything.

💡 Pro Tip: Set aside 2–3% of your purchase price for closing and moving costs. It’s one of the simplest ways to stay ahead of surprises and enjoy a smoother transition.

📦 Need help building your first-home budget? I’ve created a “First Home Checklist” to guide you — download it free at YourVanIsleHome/buying.

3️⃣ You Don’t Have to Do It Alone

When you’re buying for the first time, it’s easy to feel like you need to figure everything out yourself — especially in a competitive market like Victoria. But here’s what I learned: having the right guidance makes all the difference.

A good REALTOR® doesn’t just unlock doors — they help you understand the process, ask the right questions, and make decisions that protect your long-term goals. They also connect you with trusted local professionals — mortgage brokers, inspectors, lawyers, and tradespeople — who become part of your support system.

One of my favourite parts of this job is walking my clients through the process step by step. Whether it’s celebrating a mortgage pre-approval, navigating an offer, or handing over the keys, every milestone matters — and it feels a lot less stressful when you have someone in your corner.

☕️ Buying your first home doesn’t have to feel overwhelming. Let’s sit down, map out your goals, and create a plan that fits your life and your budget.

Final Thoughts

Buying a home for the first time is so much more than a financial decision — it’s the start of a new chapter.

Looking back, I wish I’d focused less on rushing the process and more on learning from people who’d already walked the path. Now, I get to be that person for others — helping newcomers and first-time buyers find not just a property, but a place to belong.

If you’re ready to explore your first home in Victoria, I’d love to help you start strong.

💛 Ready to Begin?

✅ Download your free Home Buying Guide
✅ Explore the latest listings at YourVanIsleHome.com
✅ Or book your First-Home Roadmap Session — a friendly, no-pressure chat about your next steps.

Because finding your home in Victoria should feel exciting, empowering, and full of possibility.

—
Jacqueline Ross

REALTOR® | Coldwell Banker Oceanside Real Estate
(250) 415-5656
jac@yourvanislehome.com
www.YourVanIsleHome.com
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Helping you find home — and community — here in Victoria, BC.

The crocuses are blooming, the days are getting longer, and "For Sale" signs are popping up everywhere. Welcome to the spring housing market! While the warmer weather and increased inventory make it an exciting time for first-time home buyers, it's also traditionally the busiest and most competitive season in Victoria.

But don't let that deter you! With the right preparation and strategy, you can navigate the buzz and land your dream home. Here's what first-time home buyers should focus on to stay ahead and get the house they want this spring.

1. Get Pre-Approved, Not Just Pre-Qualified (and Do It NOW!)

This is the golden rule for spring market success. A mortgage pre-approval is miles ahead of a pre-qualification. A pre-qualification is a quick estimate of what you might be able to borrow, while a pre-approval means a lender has verified your financial information, credit score, and income, and committed to lending you a specific amount.

Why this matters in spring:

• Shows you're serious: In a competitive market, sellers and their agents prioritize offers from pre-approved buyers. It signals you're financially ready and reduces the risk of the deal falling through.

• Know your true budget: You'll have a clear understanding of exactly how much you can afford, saving you time and preventing you from falling in love with homes out of your price range.

• Act fast: When that perfect home appears, you'll be ready to make a strong offer without delay. Homes in the spring can sell in days, even hours!

2. Understand Victoria's Market Dynamics

While the overall Victoria market has seen some shifts, the spring market still brings a surge in listings and buyer activity.

• More inventory, more competition: You'll have more homes to choose from, but so will everyone else.

• Be prepared for quick decisions: Desirable properties, especially in prime locations, will move very fast.

• Monitor local trends: Work closely with me as your real estate agent to understand the specific dynamics of your desired neighbourhood. Are bidding wars common? Are prices holding steady or declining?

3. Define Your "Must-Haves" vs "Nice-to-Haves"

Before you even step into your first open house, sit down and make a comprehensive list.

• Must-haves: These are non-negotiable features (e.g., number of bedrooms, specific school district, attached garage).

• Nice-to-haves: These are features you'd love but could compromise on (e.g., granite countertops, a specific type of flooring, a large backyard).

• Deal-breakers: What absolutely won't work for you (e.g., on a busy road, needs major structural repairs).

Having this clarity will help you filter listings efficiently and make confident decisions when you're under pressure.

4. Assemble Your Dream Team

You wouldn't build a house without an architect and a contractor, so don't buy one without the right professionals!

• Experienced Real Estate Agent: I’m a local agent who truly understands the spring market in your desired area is invaluable. I’ll give you early access to listings, help you craft competitive offers, and navigate negotiations.

• Mortgage Broker: While banks offer their own products, a mortgage broker shops around with multiple lenders to find you the best rates and terms. They can explain different mortgage types (fixed vs. variable) and help you understand your options. I can recommend great professionals to work with.

• Home Inspector: Even in a fast-paced market, do not skip the home inspection. Spring weather can reveal issues that might be hidden in winter. A professional inspection can uncover potential problems and save you from costly surprises down the road. Need one? I’ve got you!

5. Be Ready to Make a Strong, Strategic Offer

In a competitive spring market, your offer needs to stand out.

• Competitive Price: As your agent, I’ll help you determine a fair and competitive offer based on recent comparable sales. In some areas, offering slightly over asking might be necessary.

• Limit Contingencies (Carefully!): While contingencies (like financing or inspection clauses) protect you, too many can make your offer less attractive to a seller. We’ll discuss which ones you can safely reduce or waive, especially if you have a solid pre-approval.

• Flexible Closing Date: Accommodating the seller's preferred closing date can give you an edge, even if your price isn't the absolute highest.

• Personalized Letter (Optional but Powerful): A heartfelt letter to the sellers, explaining why you love their home and envision your life there, can sometimes create an emotional connection that sways their decision.

6. Budget Beyond the Purchase Price

Many first-time buyers focus solely on the down payment and mortgage, but there are other significant costs to factor in:

• Closing Costs: These include legal fees, property transfer tax, title insurance, appraisal fees, and more. They typically range from 1.5% to 4% of the purchase price in Victoria.

• Property Taxes: Don't forget these ongoing costs!

• Home Insurance: A mandatory expense when you have a mortgage.

• Moving Expenses & Initial Repairs: Factor in costs for movers, new appliances, or any immediate fixes.

The spring market offers a fantastic opportunity for first-time home buyers in Victoria, with more choices and potentially easing prices in some segments. By being prepared, proactive, and working with the right professionals, you can confidently enter the market and achieve your homeownership dreams this season.

Don't just dream about your first home – make it a reality this spring! Start your pre-approval process today and connect with me, your trusted local real estate agent, to get a head start.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Buying a strata property can be an exciting step towards homeownership. However, it's crucial to remember that along with your mortgage payment, property taxes, and utilities, you'll also have monthly strata fees. These fees cover a range of expenses related to the upkeep and maintenance of the building and common areas. Failing to factor in these fees can significantly impact your monthly budget and potentially strain your finances.

What are Strata Fees and What Do They Cover?

Strata fees are a recurring monthly charge levied on each strata lot owner within a strata corporation. These fees contribute towards various expenses, including:

• Building maintenance: This includes routine maintenance tasks such as landscaping, cleaning common areas, and repairs to the building structure.

• Insurance: Strata fees often cover building insurance, which protects the building and common areas from damage or loss.

• Amenities: If your building has amenities like a gym, pool, or party room, the fees will contribute to their maintenance and upkeep.

• Reserve fund contributions: A portion of your strata fees goes towards a reserve fund, which is used for major repairs and replacements, such as roof replacements or elevator upgrades.

• Property management: If your building has a property manager, their salary and administrative costs are typically covered by strata fees.

Why are Strata Fees Important for Your Budget?

Strata fees can vary significantly depending on the size of the building, the age of the building, the amenities offered, and the quality of building management. It's essential to consider these fees as a non-negotiable part of your monthly housing costs.

Here's a simple breakdown of how to factor strata fees into your budget:

1. Estimate your monthly mortgage payment: Use an online mortgage calculator to determine your estimated monthly mortgage payment based on the purchase price, interest rate, and loan term.

2. Calculate property taxes: Research property tax rates in the area and estimate your annual property taxes. Divide this by 12 to get your monthly property tax payment.

3. Estimate utilities: Consider your estimated monthly costs for electricity, gas, water, and internet.

4. Factor in strata fees: Obtain a copy of the strata corporation's financial statements to get an accurate estimate of the monthly strata fees.

5. Create a monthly budget: Add up your estimated mortgage payment, property taxes, utilities, and strata fees to determine your total monthly housing costs.

6. Factor in other expenses: Don't forget to include other essential living expenses such as groceries, transportation, and entertainment in your overall budget.

Tips for Budgeting Effectively:

• Review your strata corporation's financial statements: This will give you a better understanding of how your strata fees are being used and whether there are any upcoming major expenses.

• Consider the long-term implications: Keep in mind that strata fees can increase over time due to factors such as inflation and the need for major repairs.

• Build an emergency fund: Having an emergency fund can help you cover unexpected expenses related to your strata property, such as special assessments or unexpected repairs.

By carefully considering strata fees and incorporating them into your monthly budget, you can make an informed decision about whether strata living is the right choice for you and ensure that you can comfortably afford your housing costs.

Ready to start your condo search? Contact me today for a personalized consultation and let's find the perfect home for you.

Jacqueline Ross 
REALTOR®
Coldwell Banker Oceanside
250.415.5656
YourVanIsleHome.com
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