For first-time buyers, move-up families, downsizers, people relocating here and investors. You’ll find the current prices, what it really costs, how a BC purchase works step by step, and the problems that sink deals. Written by Craig Johnston, REALTOR®, who has lived in the Tri-Cities for 47+ years.
Updated: September 30, 2026 · Market data: GVR August 2026 · License: V99960 · Brokerage: Royal LePage Elite WestGet a written pre-approval first. Then pick two or three neighbourhoods using school catchment, commute and resale demand, and judge every home against recent sold prices, not asking prices. Write offers with financing, inspection and document-review subjects. Once subjects are removed, pay a deposit of about 5%, and complete through a lawyer or notary 30 to 60 days later.
In August 2026 the Coquitlam benchmark price was $1,599,100 for a detached house, $987,900 for a townhouse and $646,100 for an apartment. All three were down 6–9% year over year, which gives buyers more room to negotiate than they’ve had in several years.
Source: Greater Vancouver REALTORS® MLS® Home Price Index, Coquitlam, August 2026.
A first-time buyer stretching for a condo and a family selling a townhouse to buy a detached house have different problems and different risks. Each one needs a different order of steps. Find yourself below. Each guide goes deep on your situation, and the rest of this page covers what every Tri-Cities buyer has in common.
Not sure which one you are? Tell me where you live now, what you can put down and what has to change. I’ll send a written plan within 24 hours.
Start the Buyer Questionnaire →These are benchmark prices from the MLS® Home Price Index, which tracks a “typical” home so that one luxury sale can’t distort the picture. The sales-to-active ratio is the share of listings that sold that month. Greater Vancouver REALTORS® treats anything under about 12% as favouring buyers and anything over about 20% as favouring sellers.
| Benchmark price | Coquitlam | Port Moody | Port Coquitlam | Greater Vancouver |
|---|---|---|---|---|
| Detached | $1,599,100 | $1,962,100 | $1,243,800 | $1,799,400 |
| Townhouse | $987,900 | $986,900 | $847,200 | $1,028,800 |
| Apartment | $646,100 | $680,200 | $558,300 | $686,200 |
Source: Greater Vancouver REALTORS® MLS® HPI, August 2026. Benchmarks describe a typical home. A specific street, view or renovation can sit well above or below them, which is why every offer I write is priced from recent sold comparables.
What this means for a buyer this fall: detached homes are taking longer to sell, and many sellers have already reduced their price at least once. That gives you room to ask for a longer completion date, a full inspection or help with repairs, often worth more than a few thousand dollars off the price. Townhomes are the exception: at an 18.1% ratio, a well-priced three-bedroom with a double garage near a good school still draws multiple offers.
The down payment is the cheque everyone plans for. Property Transfer Tax is the one that surprises people, because it’s due in cash on completion and you can’t add it to your mortgage. Here is what it costs to close at three common price points, with no exemptions applied.
| At purchase price | $650,000 condo | $1,000,000 townhome | $1,600,000 detached |
|---|---|---|---|
| Minimum down payment | $40,000 | $75,000 | $320,000 (20%) |
| BC Property Transfer Tax | $11,000 | $18,000 | $30,000 |
| Legal or notary, incl. title insurance (est.) | $1,500–$2,000 | $1,700–$2,300 | $2,000–$2,500 |
| Inspection, plus sewer scope on older homes (est.) | $450–$650 | $550–$800 | $750–$1,200 |
| PST on mortgage default insurance (if insured) | $1,708 | $2,590 | n/a (uninsured) |
Not shown: property-tax, strata and utility adjustments, which depend on your completion date and appear on your lawyer’s statement of adjustments. PTT is 1% of the first $200,000, 2% from $200,000 to $2 million, 3% from $2 million to $3 million, plus an extra 2% on residential value above $3 million. Default insurance premiums use CMHC’s 4.00% rate for less than 10% down on a 25-year amortization. Estimates are for illustration only; your lender, lawyer and accountant confirm your actual numbers.
5% of the first $500,000, then 10% of the portion up to $1.5 million. From $1.5 million up, the minimum is 20% and the mortgage is uninsured. Lenders qualify you at the higher of your contract rate plus 2% or 5.25% (the stress test), and first-time buyers can get a 30-year amortization on an insured mortgage.
Down payment guide →First-time buyers save up to $8,000 of PTT on homes up to $835,000 (partly up to $860,000). A newly built primary residence can be fully PTT-exempt up to $1.1 million for any buyer. A qualifying first-time buyer of a new home can get all the federal GST back up to $1 million (up to $50,000), phasing out at $1.5 million.
BC tax & legal guide →If your mortgage is insured, BC charges 7% PST on the insurance premium. The premium is added to your mortgage, but the PST can’t be, so it comes out of your cash on closing day. On a $1 million townhome with 7.5% down, that is about $2,600. Keep a cash reserve of one to three months of carrying costs as well.
Full closing-costs guide →Every buyer I work with goes through the same eight stages. Done in order, it’s calm and predictable. Most of the stories you hear about losing a home or overpaying come from skipping stage one or rushing stage five.
A rate quote is not a pre-approval. Have a broker or lender review your income documents, down-payment source and credit, and ask for a rate hold of up to 120 days. Pay down consumer debt before you apply: a $650 monthly car payment can cut your purchasing power by roughly $90,000.
We set three numbers: the price you can buy at, the payment you’re comfortable with, and the price where you walk away. Then we cut the map down to two or three neighbourhoods. On the call I’ll also explain whom I represent and how I’m paid, in writing, before we start.
You get filtered alerts plus my notes on what doesn’t show up in the listing: the busy cut-through street, the complex with a special levy coming, the house that sold three years ago and is back with new paint. Every showing comes with the three most comparable recent sales.
Price is only one of them. The deposit, the subject clauses and the completion and possession dates all affect whether a seller says yes. In a slower market, a clean offer with a flexible date can beat a higher one. In a multiple-offer situation we plan your ceiling before you’re in the room.
This is when you learn the most about the home. You arrange financing, the inspection (plus a sewer scope on older homes), and a review of strata minutes, the depreciation report and the Form B, or title and any charges on title for a freehold. The 3-day rescission right runs alongside this, but it’s a safety net that costs you 0.25% of the price to use.
You sign the subject removal and the deposit, usually about 5% in the Lower Mainland, goes into trust, typically within 24 hours. From here the deal is binding. Don’t change jobs, finance a car or open new credit until you have the keys, because lenders re-check before they fund.
Your lawyer or notary prepares the transfer and mortgage documents and calculates the PTT and adjustments. You sign about a week before completion and bring the balance of your down payment and costs. On completion day the money moves and the title is registered in your name.
Do a walkthrough before you take possession, usually the day after completion, to confirm the home is in the condition promised and the included items are there. Then claim the Home Owner Grant on your first property tax bill, register for utilities, and keep your inspection report as a maintenance list.
The step-by-step version: the Coquitlam buyer timeline breaks this down week by week, and the buyer’s checklist is a printable list of every document you’ll need.
Most buyers start by scrolling listings. It works better the other way round: decide on two or three neighbourhoods, then wait for the right home in one of them. When I narrow a buyer’s map, I use three filters, in this order.
In SD43, catchment can change from one block to the next, and on Burke Mountain it has shifted as new schools opened. Check every address with SD43’s locator before you fall for a house, and call the school about capacity if it really matters.
Tri-Cities schools guide →Drive it or ride it at rush hour before you write an offer. Town Centre and Burquitlam put you on the Evergreen Line. Port Coquitlam has the West Coast Express, which only runs at peak times. The upper parts of Burke Mountain and Westwood Plateau trade a longer drive for more space and trail access.
Where to buy in Coquitlam →Ask who will buy the home from you. Three-bedroom townhomes near good schools, and concrete condos within walking distance of SkyTrain, have had the deepest pool of buyers. Unusual layouts and homes on busy roads take longer to sell in every market.
Home value trends →Buying outside the Tri-Cities? Most of my buyers are here, but I’ve also represented clients buying in Vancouver, Bowen Island and the Okanagan. Ask me whether I can help where you’re looking.
Coquitlam has more new construction than most of Metro Vancouver, from Burke Mountain townhome releases to towers at Town Centre and Burquitlam. That gives you a real choice, and each option comes with its own rules.
You can see exactly what you’re buying and read years of strata minutes, and the price is tested against recent sales. The trade-off is that older buildings carry maintenance risks, such as roofs, envelopes and plumbing, which your subjects have to uncover.
Search current listingsYou get a new home with a 2-5-10 warranty and time to save. You also take on deposits of 10% to 20%, completion dates that can move, the risk that the market falls before you close, and a final appraisal that has to support your price. You have a 7-day rescission period, so get the disclosure statement reviewed during it.
Burke Mountain presalesIt’s new, it’s finished, and it’s often negotiable once a builder is down to its last few homes. GST applies, so first-time buyers should price in the federal First-Time Home Buyers’ GST Rebate and BC’s newly built home PTT exemption. Together they can save more than a resale discount.
New construction guideNone of these show up in listing photos. All of them can be found during a normal subject period if someone knows to look. This is the part of the job buyers notice least and value most.
The depreciation report, two years of minutes and the Form B show you upcoming levies, insurance claims and lawsuits. Words like “envelope study” or “engineering assessment” in the minutes are the early warning. I read these before you remove subjects, not after.
Grey polybutylene pipe was common in homes and complexes built from about 1985 to 1997. Some insurers charge more for it or won’t cover it. Find out whether it has been replaced before you write the offer, not at the inspection.
Many BC stratas carry water-damage deductibles in the tens of thousands of dollars, and an owner can be charged for it. Check the deductible on the strata’s insurance certificate and buy matching coverage on your own policy.
Listing remarks often say a home is “close to” a school. Being close is not the same as being in catchment. Check the exact address with SD43’s locator.
Much of Burke Mountain, Westwood Plateau and Heritage Mountain is built on slopes. Look closely at retaining walls, perimeter drains and where water runs in a November rain. On older houses, a sewer-line camera scope costs a few hundred dollars and can save you thousands.
Easements, statutory rights-of-way, covenants and builders’ liens all appear on the title search. Most are harmless, but some limit fences, additions or suites. Your lawyer explains them, but only if they’re reviewed during your subjects.
BC’s 2022 changes mean stratas can no longer ban long-term rentals, except in 55-plus buildings. They can still restrict short-term rentals, pets, age and renovations. Read the current bylaws, not a summary in the listing.
A “mortgage helper” suite that was never permitted can affect your financing, your insurance and the rent you can count on. Ask for permits, and check what the city has on file.
Have you already found a home? Send me the listing and I’ll tell you what I’d check before you write an offer. It costs nothing and doesn’t commit you to anything.
Book a 20-min call →What a buyer’s agent does in BC → · Questions to ask a REALTOR® →
These are real client files covering the order of steps, the decisions and the things that went sideways, written up with the client’s permission. Read the one that looks most like your situation.
A first purchase in the Tri-Cities, including what nearly derailed it and how it was fixed.
Read the case studyHow a Coquitlam family timed selling their starter home and buying the next one.
Read the walkthroughThe rightsizing move, step by step, with the strata decisions that mattered.
Read the case studyCap rate, rent comparables and the real expense lines on a Coquitlam property.
Read the case studyEvery purchase is different. Past results don’t guarantee future outcomes. See all case studies →
“Craig worked with my wife and me for over 3 years to find the perfect home. He was endlessly patient with us through the process. Eventually, we found our perfect home and he moved fast to execute on our behalf. He negotiated fairly and thoroughly with the sellers and was our advocate all throughout our first home purchase.”
“After searching for several years, I knew exactly what I was looking for—and Craig delivered. We viewed a handful of properties, and the home he ultimately found was exactly what I had been searching for. I couldn't believe how quickly he nailed it.”
“We had a fantastic experience working with Craig, who was recommended by a friend. He patiently guided us through the process to purchase our family forever home in Vancouver, explaining all the steps and answering all of our many questions. He was always responsive and available whenever we needed him and always felt like he wanted the absolute best for us.”
“We recently moved from overseas and were not familiar with the purchasing process in BC. Craig was fantastic spending the time to explain everything thoroughly so we had a good handle on things. We felt we were in very experienced hands.”
“Craig is one of the best realtor to work with, highly knowledgable and very patient. Guided us through the whole process stress free. Highly Recommend Craig Johnston.”
“He spent time getting to know us, visiting homes on our behalf until we were in the market. Craig prepared us to better understand the local market, city planning and developments all to refine our search. He is professional and works well with other realtors — a true partner in the process of purchasing a home!”
“Craig is what everyone hopes they will find in a realtor, yet is so incredibly rare. His foundation of genuine care and generosity with his time is outstanding… We never felt rushed, pressured or stressed by what is fundamentally a rather daunting experience, and it was because he created a dynamic of collaboration and support.”
“Craig extended such patience, excitement and professionalism in helping my husband and I buy a townhouse in Port Coquitlam (my hometown!) so we could continue raising our two girls where I also grew up. When we faced a hurdle getting financing approval because of a lien on our desired townhome, Craig worked tirelessly with our broker to get the lien removed.”
“Craig was a pleasure to work with for the purchase of our home. Craig was very patient as we debated between a condo and a townhome. Craig found us a home that ticked all of our boxes plus some! He made the whole process smooth and enjoyable.”
“We had a fantastic experience working with Craig on the purchase of our first home in Coquitlam. He was incredibly friendly and responsive, always quick to answer our messages and questions. Throughout the process, he took the time to walk us through each step so my partner and I always knew exactly what was going on and what to expect next. Craig also gave us honest, helpful opinions on properties we were considering, which really helped guide us toward a place we love. On top of that, he connected us with a great broker and lawyer, making the whole process feel seamless. We're so happy in our new home and couldn't have done it without him. Highly recommend Craig to anyone buying a home!”
“Throughout our journey, Craig demonstrated immense patience and understanding. He went out of his way to provide extra resources and various options to consider on both the buy and sell side.”
“Craig assisted in every aspect of the purchase of my Bowen Island home, including the building inspection, the follow-up inspection, and ensuring deficiencies were repaired. He was thorough and protected my position every step of the way.”
“Craig was patient throughout the entire process. He never pushed us to buy something we weren't sure about, and when we decided to wait six months and save more, he just said ‘good call’ and stayed in touch. When we did finally buy, the math was so much cleaner.”
“Craig was an absolute pleasure to work with. He is extremely friendly, highly knowledgeable, and constantly monitors trends and data so we could make informed decisions. The more time we spent interacting with other agents during our home-buying process, the more pleased we were with choosing Craig.”
“As first-time home buyers, we had a myriad of concerns. Craig immediately put us at ease by taking the time to address each of our questions thoroughly and patiently. At no point did I feel pressured or rushed into making a decision. Instead, Craig empowered us with all the facts and options.”
In this order: (1) get a written, underwritten pre-approval from a mortgage broker or lender, (2) book a strategy call with a local buyer’s agent to set your price ceiling, must-haves and two or three target neighbourhoods, (3) check school catchment by exact address, and only then (4) start touring. Buyers who tour first and finance second are the ones who lose homes they could have had, or win homes they can’t comfortably carry.
For homes under $1.5 million you can buy with an insured (CMHC-type) mortgage: 5% of the first $500,000 plus 10% of the portion between $500,000 and $1.5 million. That is $35,000 on a $600,000 condo, $75,000 on a $1 million townhome and $115,000 on a $1.4 million house. At $1.5 million and above, the minimum is 20% and the mortgage is uninsured. Your lender’s debt-service ratios and the stress test decide whether you qualify, not just the down payment.
Beyond the down payment, plan for BC Property Transfer Tax (1% on the first $200,000 and 2% up to $2 million, less any exemption you qualify for), legal or notary fees (typically about $1,500–$2,500), a home inspection, property-tax and strata-fee adjustments, home insurance, moving, and, if your mortgage is insured, 7% BC PST on the insurance premium, which is due in cash at closing. On a $1 million resale home with no exemption, PTT alone is $18,000.
It depends on what you are buying. In August 2026, Greater Vancouver REALTORS® reported Coquitlam benchmark prices down 5.9% (detached), 8.5% (townhouse) and 7.8% (apartment) year over year, and detached homes were selling at a 9.1% sales-to-active ratio, which is buyer’s-market territory. Townhomes were firmer at 18.1%. More inventory means more negotiating room and more time to do subjects properly. Nobody can call the bottom; the right time is when your finances, your plan to hold for five-plus years and a home that fits all line up.
Since January 3, 2023, buyers of most residential property in BC can cancel an accepted offer within three business days by delivering written notice and paying a fee of 0.25% of the purchase price to the seller. It does not apply to presale (pre-construction) contracts, which carry their own seven-day rescission right under the Real Estate Development Marketing Act. It is a safety net, not a substitute for subject clauses.
Resale lets you inspect what you are buying, read the strata’s history and move in within weeks. A presale offers a newer home, a builder warranty and time to save, but you commit at today’s price to a building you can’t inspect yet, deposits of 10% to 20% are common, and completion can slip. First-time buyers should look at the GST and PTT relief on new homes, which can be worth more than any negotiating discount on resale.
Look up the exact street address with School District 43’s school locator, not the complex name or the listing remarks. Catchment lines in Coquitlam, Port Moody and Port Coquitlam can split a single complex, and boundaries change as new schools open on Burke Mountain. If a specific school matters to you, put the catchment check before subject removal, and phone the school about enrolment capacity.
You are not required to use one, but the listing agent represents the seller. A buyer’s agent pulls the comparable sales, reviews strata documents and title, structures subjects and negotiates for you. In BC your agent must explain who they represent before providing services, and how your agent is paid is set out in writing in a buyer agency agreement before you write an offer, so there are no surprises.
Yes, with a plan. The common tools are a subject-to-sale clause (weaker in multiple offers), bridge financing from your lender, a long completion date on the purchase, or selling first with a rent-back. Which one fits depends on your equity, your lender and how fast your home type is selling. The Move-Up Buyer Guide walks through all four.
Plan on one to two weeks for pre-approval, two to twelve weeks of searching depending on how specific you are, five to ten days of subjects once an offer is accepted, and typically 30 to 60 days from firm deal to completion. Most of my buyers move from first call to keys in roughly two to four months.
Canada’s federal ban on most non-Canadians buying residential property was extended to January 1, 2027, so check its current status before you plan. Foreign nationals who can buy also face BC’s 20% additional Property Transfer Tax in Greater Vancouver, and Coquitlam, Port Moody and Port Coquitlam are inside the Speculation and Vacancy Tax zone. Get legal advice before you write an offer.
I’ve lived in the Tri-Cities for more than 47 years and on Burke Mountain for more than nine. I represent buyers across Coquitlam, Port Moody and Port Coquitlam, from first condos to move-up homes. My job is to give you an honest read on each home and run a calm, well-planned process, so you buy the right place at a fair price and nothing about the building surprises you later.
Written and reviewed by Craig Johnston, REALTOR® V99960, Royal LePage Elite West · Last reviewed September 30, 2026. This page is general information, not legal, tax or mortgage advice. Rules and thresholds change, so confirm your situation with your lawyer, accountant and mortgage professional. If anything here differs from the official source, the official source is correct.
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