The Bank of Canada has decided to hold its key interest rate steady once again. While this may seem like a simple pause, it can have meaningful impacts on both buyers and sellers in Metro Vancouver. Whether you’re just starting your homeownership journey or considering selling, understanding what this means is key. One big question I keep hearing lately is: “will Vancouver real estate drop?”

1. What a Rate Hold Means for Borrowers

When interest rates stay the same, mortgage lenders typically follow suit. That means homebuyers may see some short-term stability in borrowing costs. For many, this makes it easier to plan financially and move forward with confidence.

Buyers who were previously hesitant might now be ready to re-enter the market. A steady rate often builds momentum, especially among first-time homebuyers looking to lock in manageable payments. But some still wonder: will Vancouver real estate drop? While no one can predict exact outcomes, current indicators suggest continued demand in our region is helping to keep the market balanced.

2. Buyer Confidence is Growing

Since the last few rate hikes, many buyers have been waiting on the sidelines. Now, with this hold, confidence is slowly returning—particularly among younger buyers and growing families. Open house activity is picking up, and mortgage pre-approvals are increasing.

As a result, homes priced under $1.0 million are attracting strong attention. Many are acting quickly, especially in areas like Coquitlam, Port Coquitlam, and Burnaby. Still, some are asking: will Vancouver real estate drop? While certain pockets may see minor fluctuations, the overall trend points toward stability—especially as demand stays strong and inventory remains limited.

3. Sellers Have an Opportunity Too

For sellers, the rate hold brings a positive shift. More buyers in the market can mean more offers and better selling conditions—especially for homes that are well-staged and competitively priced.

If you’ve been unsure about listing your property, this could be a smart time to act. With more stable rates, buyers are more willing to commit, which helps drive activity. But naturally, many still wonder: will Vancouver real estate drop? So far, prices have held firm across most of Metro Vancouver due to ongoing supply constraints and population growth. That’s good news for current homeowners.

4. What to Watch Going Forward

The Bank of Canada will continue monitoring inflation and economic performance. If conditions improve, we could eventually see rate cuts—which would likely drive even more demand and possibly push prices up. On the flip side, economic uncertainty or policy changes could temporarily impact confidence.

As always, real estate is local. Market trends in downtown Vancouver won’t necessarily match what’s happening in Tri-Cities or Fraser Valley. Staying informed and working with an experienced local REALTOR® can help you navigate those changes wisely. When clients ask me “will Vancouver real estate drop?” I remind them: real estate is a long-term investment, and in a high-demand region like ours, it continues to be one of the most resilient markets in Canada.

The Bank of Canada’s decision to hold interest rates provides both buyers and sellers with a valuable pause—one that can open doors to opportunity. Whether you’re ready to jump in or simply planning ahead, the key is to be informed and prepared.

Are you thinking of Buying or Selling this year? Curious about what’s happening in your neighbourhood? Let’s talk. And if you have thoughts or questions, I’d love to hear them—drop a comment below!

Whether you’re thinking of making your first move or listing your home, this update could impact your next steps!

Questions? Let’s connect!

Nida Balatbat

Call/Text: +1 778-859-7225

Email: Nida@LegendRealtor.com

As life evolves, so do our housing needs. Whether you’re an empty nester, looking for a lower-maintenance lifestyle, or simply want to free up equity for new adventures, downsizing—or what I like to call “rightsizing”—can be a smart and liberating move.

If you’re considering selling your home and moving into a more manageable space in Vancouver, here’s what you need to know to make the transition smooth and successful.

1. Understand Why You’re Downsizing

Before listing your home, take a step back and define your why. Are you downsizing to simplify your lifestyle? Reduce home expenses? Be closer to family? Knowing your motivation will help guide your decisions throughout the process.

2. Evaluate Your Home’s Market Value

Vancouver’s real estate market is constantly evolving, and understanding your home’s value is key to maximizing your sale. A professional market evaluation can help you determine the best pricing strategy and highlight ways to boost your home’s appeal to potential buyers.

3. Declutter and Prepare for Sale

Downsizing means making tough decisions about what to keep, donate, or sell. Here’s how to tackle it:

• Start early – Give yourself plenty of time to sort through belongings.

• Prioritize essentials – Keep items that are functional, sentimental, or fit your new space.

• Use the “one-year rule” – If you haven’t used it in a year, you probably don’t need it.

• Sell or donate – Consider local charities or online marketplaces to give your items a second life.

A clutter-free home also makes for a stronger listing, helping buyers envision themselves in the space.

4. Find the Right “Right-Sized” Home

When looking for your next home, consider:

• Location – Do you want to stay in the same neighborhood or move closer to family, transit, or amenities?

• Size and layout – Does it comfortably fit your lifestyle and belongings?

• Maintenance – Would a condo, townhouse, or smaller detached home be a better fit for your future needs?

5. Work With a Trusted REALTOR®

Selling and downsizing is a big decision, but you don’t have to do it alone. An experienced REALTOR® can help you:

• Set the right price for your home

• Market your property effectively

• Negotiate the best terms

• Find a home that fits your new lifestyle

6. Plan for the Financial Transition

Selling a larger home often unlocks significant equity. Think about how you want to use it—whether it’s reinvesting in real estate, boosting retirement savings, or funding travel and hobbies. Also, be aware of costs such as:

• Real estate commissions

• Moving expenses

• Strata fees (if downsizing to a condo)

• Property transfer tax (unless exempt)

7. Embrace the Change

Downsizing isn’t just about moving to a smaller space—it’s about creating a lifestyle that aligns with your next chapter. Many who rightsize find they have more freedom, less stress, and greater financial flexibility to enjoy what truly matters.

Thinking About Downsizing in Vancouver?

As an experienced Metro Vancouver REALTOR®, I can help you navigate the selling process and find the perfect home to match your new lifestyle. Let’s chat about your goals and how we can make your transition seamless.

Mobile no. :778-859-7225

Email         :Nida@LegendRealtor.com

Website.   : https://legendrealtor.com

Want to know what past clients say about working with me? Check out my verified client reviews on Rank My Agent

Thinking about buying your first home? It’s an exciting milestone, but many first-time buyers make costly mistakes that can turn their dream purchase into a financial headache. From budgeting blunders to skipping key inspections, these errors can be avoided with the right knowledge. In this post, we’ll break down the most common pitfalls and give you expert tips to make smart, confident decisions—so you can buy your first home stress-free!

1. Not Getting Pre-Approved for a Mortgage

One of the biggest mistakes first-time buyers make is starting their home search without getting pre-approved for a mortgage. It’s easy to fall in love with a home, but without a pre-approval, you might not know if you can actually afford it. Worse, sellers may not take your offer seriously if you don’t have financing in place.

How to Avoid This Mistake:

• Meet with a mortgage broker or lender before you start house hunting.

• Get a mortgage pre-approval to know your budget and secure a rate.

• Avoid taking on new debts or making big purchases that could affect your credit score.

By securing pre-approval, you’ll avoid disappointment and have a clear financial picture. Always avoid these common mistakes to keep your home-buying process smooth and stress-free!

2. Underestimating Additional Costs

Many first-time buyers focus only on the purchase price of a home and forget about the extra costs that come with homeownership. Closing costs, property taxes, home insurance, and maintenance expenses can add up quickly, leading to financial strain if you’re not prepared.

How to Avoid This Mistake:

• Factor in closing costs (typically 1.5%–4% of the home’s price).

• Budget for ongoing costs like utilities, property taxes, and home insurance.

• Set aside a fund for unexpected repairs—homeownership always comes with surprises!

Failing to account for these costs can leave you stretched thin financially. To stay ahead, make sure you avoid these common mistakes and plan for the full cost of owning a home.

3. Skipping the Home Inspection

In a competitive market, some buyers skip home inspections to make their offer more appealing. While this might help you secure a home faster, it can also lead to major regret if hidden issues appear later. Structural problems, outdated wiring, or plumbing issues can be costly to fix—and without an inspection, you won’t know what you’re getting into.

How to Avoid This Mistake:

• Never waive a home inspection unless you are prepared for potential risks.

• Hire a certified home inspector to evaluate the property.

• Review the inspection report carefully and negotiate repairs if needed.

A home is one of the biggest investments you’ll make, so protect yourself. Be smart and avoid these common mistakes to ensure you’re making a sound purchase.

4. Letting Emotions Drive the Decision

Buying your first home is an emotional experience, but making decisions based purely on feelings can lead to mistakes. Many buyers fall in love with a home and rush into a purchase without considering resale value, location, or their long-term financial situation.

How to Avoid This Mistake:

• Create a list of must-haves vs. nice-to-haves to stay focused.

• Think about the future resale value of the home and its location.

• Take your time—don’t let pressure from sellers or bidding wars push you into a bad decision.

Balancing emotions with logic will help you make a smart investment. Stay level-headed and avoid these common mistakes to find a home that truly fits your needs.

Buying your first home is a thrilling journey, but it’s also a major financial commitment. By getting pre-approved, budgeting for extra costs, insisting on a home inspection, and making logical decisions, you can avoid costly pitfalls. Take your time, do your research, and stay informed—because a well-planned purchase leads to a stress-free homeownership experience.

Are you interested in a Buyer consultation? You can contact me today to discuss your real estate goal