What are the biggest mistakes BC homebuyers are making in 2026?
In Episode 104 of The Real Deal Pod, Fraser Valley Realtor Allister Carrington and BC mortgage broker Geoff Lee break down 10 common homebuying mistakes. They also explore new research showing how important home equity can be in building long-term wealth.
The episode looks at a recent study comparing the wealth of established immigrant and Canadian-born households. Allister and Geoff discuss why homeownership and accumulated equity appear to play such an important role in the results.
Then they turn to the practical side of buying a home. From mortgage pre-approvals and credit scores to inspections and tax exemptions, small decisions can have a big financial impact.
In this episode, we cover:
- What new research tells us about home equity and long-term wealth
- The 10 biggest mistakes BC homebuyers are making
- Why a proper mortgage pre-approval matters before you start shopping
- How credit utilization can affect your mortgage approval
- BC property transfer tax exemptions buyers should understand
- Why you shouldn’t skip a home inspection, including on a pre-sale
- How the FHSA and Home Buyers’ Plan can help first-time buyers
- Why making major financial changes before closing can put your approval at risk
- Why mortgage features, penalties, portability, and prepayment privileges matter alongside the rate
- How to build the right team before purchasing a home
Whether you’re buying your first property or your tenth, this episode provides a practical checklist to help you ask better questions, avoid costly mistakes, and make a more informed purchase.
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