02/17/2026
Do you really need 20% down to buy a home in BC? The answer might surprise you. 🏡
Many first-time buyers think they need $150,000+ saved — but in reality, you may need much less.
In Canada:
✔️ 5% on first $500,000
✔️ 10% on portion between $500k–$1M
✔️ 20% only if price is over $1M
Example:
An $800,000 home may need approximately $55,000 down — not $160,000.
Yes, CMHC insurance applies under 20%, but it allows many buyers to enter the market sooner instead of waiting years.
The biggest mistake is waiting unnecessarily.
If you tell me your budget, I’ll calculate your exact down payment and guide you step-by-step.
— Akshay Singla
PREC | Greater Vancouver Real Estate
📩 DM “DOWN PAYMENT” to get your number