2 Myths Stopping First-Time Buyers in Surrey

Two myths I hear from first-time buyers all the time:

Myth 1: "I'll buy when rates drop."

When rates drop, buyers come back — more competition, more bidding, and prices get pushed up. You can end up paying more for the same home. You buy the home, not the rate — if rates fall later, refinancing may be an option. Talk to your lender about your real numbers.

Myth 2: "I need 20% down to buy my first home."

No, you don't. The minimum down payment in Canada is 5%. Under 20% means mortgage insurance, but it gets you in the door years sooner instead of saving while prices move. Get your actual number from a lender before you assume you can't buy.

Don't let either myth keep you renting. DM BUY and I'll send you the free buyer checklist.

I'm Kuldeep Gill, PREC*, a Surrey & Fraser Valley REALTOR® with RE/MAX Blueprint. 8+ years in real estate, 25 years living locally, and a construction background — so I spot what listing photos hide.

📞 Call or text: 778-878-5553

🌐 kuldeepgill.com

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