First-time homebuyers in Canada should determine their budget, get pre-approved for a mortgage, and estimate upfront costs including down payment (5-20%), closing costs (2-4%), CMHC insurance if under 20% down, legal fees, land transfer tax, property tax, home insurance, and moving expenses. Building a real estate team and understanding the local market are crucial. Various federal and provincial programs offer financial assistance, such as tax credits, rebates, and down payment loans.

Most residential property assessments in the Thompson-Nicola area show modest changes for 2026, with values generally shifting between -5% and +5%. Kamloops, Clinton, and Logan Lake remain unchanged, while Ashcroft, Cache Creek, Merritt, and Sun Peaks saw slight decreases. Lytton's property values rose 30% due to rebuilding after a 2021 fire. BC's total property value decreased nearly 2.5% to over $2.75 trillion. Assessment changes do not directly determine tax changes.

Vancouver City Council approved new space-saving stair designs for buildings up to six storeys, enhancing apartment layouts, natural light, and safety for residents and first responders. They also passed the Abandoned and Vacated Buildings By-law to set maintenance standards, enable early intervention on unsafe properties, reduce hazards, and help return sites to housing use more efficiently.

In 2025, Greater Vancouver saw its lowest home sales in 25 years, with 23,800 transactions—a 25% drop from the 10-year average—due to weak demand and economic uncertainty. Buyers are advised to be patient and seek discounted properties, while sellers should adjust expectations, price realistically, and remain flexible. Over 65,000 properties were listed, increasing competition. Stable interest rates and infrastructure projects may boost sales in 2026.