Buying your first home is one of the most exciting milestones in life. It can also feel overwhelming, especially in a market like Richmond where there’s a lot to learn before you start.

The good news? A little preparation goes a long way. Here are five things I wish every first-time buyer knew before they started their search.

1. Understand the BC Property Transfer Tax — and Whether You Qualify for an Exemption

When you purchase a home in BC, you are required to pay a Property Transfer Tax (PTT). The general rate is 1% on the first $200,000 and 2% on the remainder up to $2,000,000.

The good news for first-time buyers is that there is an exemption available if you qualify. To be eligible, the property must be your principal residence, you must be a Canadian citizen or permanent resident, and you must have lived in BC for at least 12 consecutive months before your purchase date. The home must have a fair market value of $835,000 or less to receive the full exemption, with a partial exemption available for homes valued between $835,000 and $860,000. The exemption applies to the first $500,000 of the purchase price, which means eligible first-time buyers can save up to $8,000.

2. Know How Much You Actually Need Saved

Many first-time buyers focus on the down payment and forget about closing costs — and that can lead to some unpleasant surprises.

In addition to your down payment (a minimum of 5% for homes under $500,000 in Canada), you should plan for legal fees, home inspection costs, property tax adjustments, and moving expenses. A general rule of thumb is to budget an additional 1.5% to 4% of the purchase price for closing costs. Knowing your full number upfront helps you set realistic expectations and avoid stress later.

3. Get Pre-Approved Before You Start Looking at Homes

This one is more important than many buyers realize. A mortgage pre-approval tells you exactly how much a lender is willing to lend you, which means you can shop with confidence and make offers when you find the right home. Without a pre-approval, you risk falling in love with a home that isn’t within your budget — or losing out to another buyer who came prepared. In Richmond’s market, being ready to move quickly can make all the difference.

4. Working with a Buyer’s Agent Costs You Nothing

One of the most common misconceptions I hear from first-time buyers is that working with a realtor will cost them money. In BC, the seller typically pays the commission for both agents involved in a transaction. What this means for you as a buyer is that you get professional guidance, negotiation support, and someone looking out for your best interests — at no cost to you. There is really no reason not to have representation when buying a home.

5. Understand Strata Living Before You Buy a Condo or Townhouse

A large portion of Richmond’s housing market is made up of strata properties — condos, townhouses, and some detached homes that are part of a strata corporation. If you’re considering one of these, there are a few things you need to understand.

Every strata has monthly fees that cover shared expenses like building maintenance and insurance. You’ll also want to review the strata documents carefully, including the minutes from recent meetings, the financial statements, and the depreciation report. The depreciation report in particular tells you the current condition of the building and whether any major expenses are coming up. Understanding what you’re getting into before you make an offer can save you from a costly surprise down the road.

Final Thoughts

Buying your first home in Richmond is an incredible step, and going in informed makes the whole process so much smoother. If you have questions about any of these topics or want to talk through what buying in Richmond looks like for your situation, I’d love to help.

If you've spent any time in Richmond, you've probably heard people talk about Steveston. It's one of those places that seems to have a way of drawing people back.

I should know. I grew up in Steveston, and after graduating high school, many of my friends moved away. Some headed downtown, some moved to other parts of BC, and others started new chapters elsewhere. But something interesting happened as we got older.

As people got married and started raising families, many of them came back.

Today, it's incredible to see so many of the people I grew up with raising their own children in the same neighbourhood, attending the same schools, and playing in the same parks we enjoyed growing up. There's a reason Steveston continues to be one of Richmond's most sought-after communities.

Here are five reasons why so many people love calling Steveston home.

1. A True Sense of Community

One of the things that makes Steveston special is the strong sense of community.

In a world where many kids spend their time indoors, it's still common to see children riding bikes, playing street hockey, running through the neighbourhood, and knocking on their friends' doors to see if they can come out and play.

Neighbours know each other here. Local business owners know their customers. There is a genuine small-town feel that can be hard to find in larger cities.

Steveston is also home to many community events throughout the year, including:

• Richmond Maritime Festival

• Steveston Salmon Festival

• Dragon Boat events

• Santa Claus Parade

• Steveston Beer & Wine Festival

These events bring residents together and help create the strong community spirit that Steveston is known for.

With a brand-new community centre currently in development, the neighbourhood continues to invest in bringing people together for generations to come.

And of course, let's not forget the incredible local restaurants, cafés, bakeries, and family-owned businesses that make Steveston Village such a vibrant place to spend time.

2. Beautiful Waterfront Living and Walkability

Few neighbourhoods in Richmond offer the same combination of walkability and waterfront scenery as Steveston.

Whether you enjoy walking, jogging, cycling, scootering, or simply taking in the view, Steveston's waterfront boardwalk is one of the most enjoyable places to spend an afternoon.

Residents love:

• The scenic waterfront boardwalk

• Extensive bike paths

• Access to Richmond's dyke trail system

• Easy connections to Terra Nova and the west dyke

• Waterfront cycling routes stretching east toward Ironwood

And then there are the sunsets.

Locals know that some of the best sunsets in Richmond can be found right here along the waterfront.

Add in beautiful green spaces like Garry Point Park, and it's easy to understand why outdoor enthusiasts love living in Steveston.

3. Rich History and Unique Character

Unlike many newer neighbourhoods, Steveston has a rich history that gives it a unique charm and character.

Originally established as a fishing community with strong Japanese and European influences, Steveston's roots remain visible throughout the village today.

Historic buildings, heritage homes, fishing docks, and local landmarks all contribute to a sense of place that feels different from anywhere else in Richmond.

Steveston's unique atmosphere has even attracted film and television productions over the years. If parts of the village seem familiar, there's a good chance you've seen them on screen before.

This blend of history and character helps preserve the neighbourhood's identity while making it one of the most distinctive communities in Metro Vancouver.

4. A Diverse and Welcoming Community

Steveston is home to residents from many different backgrounds, cultures, and walks of life.

This diversity contributes to the welcoming and inclusive atmosphere that so many residents appreciate.

Families from around the world have chosen to make Steveston home, creating a community where different cultures, traditions, and experiences come together.

The result is a neighbourhood that feels friendly, vibrant, and connected while still maintaining the strong sense of community that makes Steveston special.

5. An Incredible Place to Raise a Family

For many residents, this is the biggest reason of all.

Steveston is an exceptionally family-friendly neighbourhood.

Parents appreciate the walkability, safety, parks, recreational facilities, and strong schools that make daily life easier and more enjoyable.

Some of the family-friendly amenities include:

• Multiple playgrounds and parks

• Water parks and splash areas

• Outdoor swimming facilities

• Tennis courts

• Hockey and lacrosse facilities

• Baseball diamonds

• Ice cream shops and family-friendly restaurants

• Extensive walking and cycling paths

Families also benefit from access to excellent schools, including:

• Westwind Elementary

• Homma Elementary

• Diefenbaker Elementary

• McKinney Elementary

• Lord Byng Elementary

• McMath Secondary

• Steveston-London Secondary

Combined with the area's parks, pathways, and strong community spirit, it's easy to see why so many families choose to stay for the long term.

Final Thoughts

I've been fortunate to watch Steveston evolve over the years while still maintaining the qualities that make it so special.

What stands out most to me isn't just the waterfront, the parks, or the restaurants. It's seeing so many familiar faces return to raise their own families here.

There's something special about watching your childhood friends bring their kids to the same schools, parks, sports fields, and community events that shaped your own childhood.

Steveston offers a rare combination of community, character, natural beauty, and family-friendly living that can be difficult to find elsewhere.

It's not just one of Richmond's most desirable neighbourhoods—it's a place that many people are proud to call home.

If you're considering buying or selling a home in Steveston, I'd be happy to help you learn more about what makes this community so special.

Photo Credit: Desy Cheng