Steps to Buying a House in Surrey BC: 2026 Guide

Buying a house in Surrey is one of the most significant financial decisions you'll make, and understanding the complete process is essential to navigating it successfully. Understanding the steps to buying a house in Surrey's competitive market ensures you're prepared for each phase, from initial financial preparation through closing day. The home buying process in British Columbia involves specific legal requirements, documentation, and timelines that differ from other provinces, making local knowledge particularly valuable.

At the Rob Visnjak Real Estate Group, we guide buyers through every step of the home buying journey throughout Surrey and the Fraser Valley. Whether you're purchasing your first home in Newton, upgrading to a larger property in South Surrey, or relocating to Cloverdale, understanding the sequential steps and what to expect at each stage prevents confusion, reduces stress, and helps you make informed decisions. The 2026 market brings both opportunities and challenges, with shifting interest rates and evolving regulations that affect buyers.

This comprehensive guide breaks down every step of buying a house in Surrey in 2026. From evaluating your financial readiness and securing mortgage pre-approval to finding the right property, making offers, navigating inspections, and completing the legal requirements at closing, we cover everything you need to know. Whether you're a first-time buyer taking advantage of BC's programs or an experienced purchaser familiar with the market, this guide provides the roadmap to home buying success.

Key Takeaways

• Get Pre-Approved First: Know your budget and strengthen your position before house hunting.

• Understand BC Requirements: Property Transfer Tax, legal documents, and provincial regulations affect Surrey purchases.

• Work With Professionals: Realtors, mortgage brokers, and notaries/lawyers are essential for smooth transactions.

• Be Prepared to Move Quickly: Surrey's market moves fast; preparation allows you to act when opportunities arise.

• Budget for All Costs: Down payment, closing costs, Property Transfer Tax, and moving expenses add up.

Evaluate Your Financial Standing

Before exploring properties in Surrey, gain a comprehensive understanding of your financial situation. Calculate your savings for down payment and closing costs, monthly earnings and income stability, outstanding debts including credit cards, car loans, and student loans, and regular expenditures to determine true affordability. This evaluation reveals what you can genuinely afford each month once mortgage payments, property taxes, insurance, utilities, and maintenance costs are factored in.

In British Columbia, the minimum down payment requirements are 5% for homes priced up to $500,000, 5% on the first $500,000 plus 10% on the portion between $500,000 and $1 million, and 20% for homes priced over $1 million. For a $750,000 home in Surrey (around the median price in many neighborhoods), you'd need a minimum of $50,000 down payment (5% of $500,000 = $25,000, plus 10% of $250,000 = $25,000).

Beyond the down payment, budget for closing costs including legal fees ($1,500-$2,500), home inspection ($400-$600), property appraisal ($300-$500), BC Property Transfer Tax (significant cost discussed below), and title insurance. First-time buyers should also budget for immediate move-in expenses and potential repairs or upgrades.

Check Your Credit Score and Address Issues

Your credit score significantly impacts your mortgage approval and interest rate. In Canada, credit scores range from 300 to 900, with 680+ considered good and 700+ excellent for mortgage purposes. Check your credit report from Equifax or TransUnion Canada for free to identify any errors or issues that need addressing.

If your credit score needs improvement, take steps to boost it before applying including paying down credit card balances to below 30% utilization, making all payments on time, avoiding new credit applications, and disputing any errors on your report. Even a modest improvement in credit score can save you thousands in interest over your mortgage term.

Calculate your debt-to-income ratio by adding up all monthly debt payments and dividing by gross monthly income. Canadian lenders typically want your Gross Debt Service (GDS) ratio below 32% (housing costs only) and Total Debt Service (TDS) ratio below 42-44% (all debts). If your ratios are too high, work on paying down debt before applying for a mortgage.

Get Pre-Approved for a Mortgage

Once you've assessed your finances, the next crucial step is getting pre-approved for a mortgage. Pre-approval gives you a realistic picture of how much a lender is willing to loan you and shows Surrey sellers that you're a serious buyer, which can strengthen your offer in a competitive market.

To get pre-approved, complete an application with your lender and submit documentation that verifies your finances including proof of income (pay stubs, employment letter, T4s), recent bank and asset statements showing down payment funds, government-issued identification, and consent for a credit check. Your lender will review this information, run a hard credit check, and determine how much they're comfortable lending based on your financial profile.

Pre-approval typically lasts 90-120 days and locks in an interest rate guarantee, protecting you if rates rise during your house search. However, pre-approval is not a guarantee—final approval comes after the property is selected and appraised. Consider working with a mortgage broker who can shop multiple lenders to find you the best rate and terms.

Explore First-Time Home Buyer Programs in BC

If you're a first-time buyer in Surrey, take advantage of BC and federal programs designed to make home ownership more affordable. The BC First-Time Home Buyers' Program provides a full exemption from Property Transfer Tax on homes valued at $500,000 or less, and a partial exemption on homes between $500,000 and $550,000. To qualify, you must be a Canadian citizen or permanent resident, have lived in BC for at least a year or filed two BC tax returns in the last six years, have never owned a registered interest in a property anywhere, and intend to use it as your principal residence.

The First Home Savings Account (FHSA) is a federal program allowing first-time buyers to save up to $40,000 tax-free for a home purchase, with annual contribution limits of $8,000. Contributions are tax-deductible, and withdrawals for home purchase are tax-free. This is separate from and can be combined with the Home Buyers' Plan.

The Home Buyers' Plan (HBP) allows first-time buyers to withdraw up to $60,000 from RRSPs tax-free (increased from $35,000 in recent years) for a home purchase. The funds must be repaid over 15 years. Combined with the FHSA, first-time buyers can access up to $100,000 in tax-advantaged savings.

Find a Surrey Real Estate Agent

Working with a real estate agent who knows Surrey's market intimately is invaluable. An experienced agent provides access to MLS listings including new listings immediately, knowledge of Surrey neighborhoods from Newton to South Surrey, insight into fair market value and pricing trends, guidance on making competitive offers, negotiation expertise on your behalf, and coordination of inspections and closing requirements.

Buyer's agents are typically paid by the seller through commission splitting, meaning their services generally cost you nothing. Choose an agent familiar with your target Surrey neighborhoods who understands your needs and price range. Interview 2-3 agents before deciding, asking about their experience with buyers in your situation, knowledge of specific Surrey areas, current market conditions, and their approach to negotiations.

Resources like the home buying process guide can help you understand what to expect, but an experienced agent makes the journey significantly smoother by handling complexities you might not anticipate.​

Create Your Home Wishlist and Start Searching

With your pre-approval in hand, create a clear wishlist to stay focused during your Surrey home search. Separate needs from wants by identifying non-negotiables such as location and proximity to work, schools, transit, number of bedrooms and bathrooms required, property type (detached, townhouse, condo), and must-have features versus nice-to-have features that you're flexible on.

Surrey offers diverse neighborhoods, each with distinct characteristics. Newton provides affordability and cultural diversity, Guildford offers established neighborhoods with transit access, Fleetwood features newer developments and growing amenities, South Surrey/White Rock provides higher-end homes near beaches, and Cloverdale combines heritage charm with newer developments. Research neighborhoods thoroughly to find the best fit for your lifestyle and budget.

Begin your home search online through MLS platforms like Realtor.ca, attend open houses in target neighborhoods, and communicate regularly with your agent about new listings. Be prepared to view homes quickly in Surrey's competitive market, as desirable properties often receive multiple offers within days.

Make an Offer Using the Contract of Purchase and Sale

When you find the right home in Surrey, you'll make an offer using British Columbia's standard Contract of Purchase and Sale. This legally binding document includes the purchase price you're offering, deposit amount (typically 5% of purchase price), subject clauses (conditions that must be met), completion date (when ownership transfers), possession date (when you get keys), and inclusions/exclusions (what stays and goes).

Common subject clauses protect buyers and include subject to financing approval within a specified timeframe (typically 5-7 days), subject to satisfactory home inspection, subject to review of strata documents (for condos/townhouses), and subject to property appraisal meeting purchase price. Your agent will help you determine appropriate subjects based on the property and market conditions.

Your offer also includes the deposit, which demonstrates good faith and is held in trust. If subjects are removed and the sale completes, the deposit applies toward your down payment. If you back out without just cause after removing subjects, you may forfeit the deposit. Your agent will guide you on competitive offer strategies, including whether to include subjects in Surrey's sometimes competitive market.

Complete the Home Inspection

The home inspection is one of the most important steps in the buying process. A qualified inspector evaluates the property's condition including structural integrity, roof condition and remaining lifespan, plumbing, electrical, and heating systems, foundation and drainage, moisture issues (important in Surrey's wet climate), and major system functionality. Inspections typically cost $400-$600 and take 2-4 hours.

Attend the inspection so the inspector can point out issues directly. Review the detailed report carefully with your agent. Not all issues require action—focus on significant safety concerns or expensive repairs. Based on findings, you have three options: request that the seller make repairs before completion, negotiate a price reduction to account for needed repairs, or remove your offer if problems are too severe.

Never skip the home inspection, even in competitive markets where you feel pressured to waive subjects. The few hundred dollars spent on inspection can save you tens of thousands in unexpected repairs. Surrey's older neighborhoods like Newton and Guildford particularly warrant thorough inspections.

Secure Final Mortgage Approval

After your offer is accepted and subjects are being satisfied, your lender will complete final mortgage approval. They'll order a property appraisal to confirm the home's value supports the loan amount, review title and property documentation, verify your employment and financial status hasn't changed, and provide final approval with a commitment letter.

If the appraisal comes in below your purchase price, you may need to renegotiate the price, increase your down payment to cover the gap, or potentially walk away if you included an appraisal subject. This is why subject to financing is crucial—it protects you if mortgage approval doesn't materialize.

Secure home insurance before completion, as your lender requires proof of insurance. Shop multiple insurance providers for the best rates on both fire insurance and liability coverage. Your lender needs confirmation that insurance is in place before they'll fund your mortgage.​

Hire a Notary or Lawyer and Complete Legal Requirements

In British Columbia, you'll need either a notary public or real estate lawyer to complete the legal aspects of your home purchase. They handle title search to confirm seller's ownership, preparation of all legal documents, calculation and payment of Property Transfer Tax, mortgage registration, and transfer of title to your name. Legal fees typically range from $1,500-$2,500.

BC Property Transfer Tax is a significant cost that varies based on purchase price. For properties up to $3 million, the tax is 1% on the first $200,000, 2% on the portion between $200,000 and $2 million, 3% on the portion between $2 million and $3 million, and additional rates apply above $3 million. On a $750,000 Surrey home, Property Transfer Tax would be $13,000 ($2,000 + $11,000). First-time buyers may qualify for full or partial exemption.

Your notary or lawyer will also review the Contract of Purchase and Sale, ensure all subjects are properly removed, coordinate with your lender for mortgage documents, and prepare the statement of adjustments showing all costs and credits. Meet with them early in the process to understand timeline and documentation requirements.

Remove Subjects and Finalize the Purchase

Once you've completed your home inspection, secured final mortgage approval, reviewed strata documents (if applicable), and are satisfied with all conditions, you'll remove subjects from your offer. This makes the contract firm and legally binding—after this point, backing out means losing your deposit and potential legal action.

The subject removal period is typically 5-10 days but varies based on negotiation. Your agent will prepare the Subject Removal Notice and submit it to the seller's agent by the deadline specified in your contract. Track subject deadlines carefully—missing a deadline can have serious consequences.​

After subjects are removed, the countdown to completion begins. Finalize your mortgage, provide all remaining documents to your notary/lawyer, arrange for movers and utilities transfer, complete final walkthrough 1-2 days before completion, and prepare certified cheque for remaining down payment and closing costs.

Complete Final Walkthrough

Schedule a final walkthrough 1-2 days before completion to verify the property's condition hasn't changed since your offer, all agreed-upon repairs have been completed, included items are still present, and excluded items have been removed. This is your last chance to identify issues before taking ownership.

If you discover problems during the final walkthrough, immediately contact your agent and notary/lawyer. Depending on severity, you may delay completion, negotiate a holdback, or seek legal remedies. Document any issues with photos.​

Close on Your Surrey Home

Completion day is when ownership officially transfers. Your notary/lawyer will register the title transfer at the BC Land Title Office, pay the Property Transfer Tax, transfer remaining funds to the seller, and register your mortgage. Once everything is complete, your agent will contact you to pick up keys, usually in the afternoon or evening.

On completion day, provide your notary/lawyer with the certified cheque for remaining funds, sign all final documents at their office, arrange for utilities to be transferred into your name, complete insurance activation, and be ready to receive keys once registration is confirmed. Don't make plans to move in until your agent confirms keys are available.

Congratulations—you now own a home in Surrey! Keep all documentation including the Contract of Purchase and Sale, property disclosure statements, inspection reports, and title documents. These records are important for future reference, tax purposes, and eventual resale.​

Frequently Asked Questions (FAQ)

1. How much do I need for a down payment in Surrey?
Minimum is 5% up to $500,000, then 10% on the portion between $500,000-$1M, and 20% over $1M. On a $750,000 home, you'd need $50,000 minimum.

2. What is BC Property Transfer Tax?
A provincial tax of 1% on first $200,000, 2% on $200K-$2M, 3% on $2M-$3M. First-time buyers may qualify for exemption on homes under $550,000.

3. How long does the home buying process take in Surrey?
Typically 30-60 days from offer acceptance to completion, though it can be shorter or longer depending on circumstances.

4. Do I need a real estate agent to buy in Surrey?
Not legally required, but highly recommended. Buyer's agents are typically paid by sellers and provide invaluable expertise.

5. What are subject clauses in BC?
Conditions that must be satisfied before the sale becomes binding, such as financing approval, home inspection, and strata document review.

6. Should I get pre-approved before house hunting?
Yes, pre-approval shows sellers you're serious and helps you understand your budget before falling in love with homes you can't afford.

7. What closing costs should I budget for in Surrey?
Budget 1.5-4% of purchase price for legal fees, inspections, appraisals, Property Transfer Tax (if not exempt), and title insurance.

8. Can first-time buyers get Property Transfer Tax exemption?
Yes, full exemption on homes up to $500,000 and partial exemption up to $550,000 if you meet eligibility requirements.

Conclusion

Buying a house in Surrey in 2026 requires careful preparation, understanding of BC's specific requirements, and working with experienced professionals. By following these steps—from evaluating your finances and getting pre-approved through finding the right property, navigating inspections, and completing legal requirements—you position yourself for a successful home purchase. Surrey's diverse neighborhoods offer something for every buyer, from first-time purchasers in Newton to growing families in Fleetwood to executive homes in South Surrey.

The Rob Visnjak Real Estate Group has guided countless buyers through the home purchasing process in Surrey and throughout the Fraser Valley. Our knowledge of local neighborhoods, current market conditions, and BC's legal requirements helps clients navigate each step with confidence. If you're ready to begin your home buying journey in Surrey or want to explore your options, we invite you to connect with us today. Let us help you find your dream home and guide you through every step of the process.