The provincial government released BC Budget 2026 in mid-February, and while budgets rarely make for light reading, this one carries some important implications for housing across British Columbia.

For homeowners, buyers, and anyone watching the real estate market closely, several of the measures introduced this year raise broader questions about affordability, housing supply, and the long-term direction of policy in our province.

A Budget Introduced in a Challenging Economic Moment

The budget arrives at a time when the provincial economy is facing uncertainty and slower growth. As expected in that environment, the government has projected a sizable deficit.

While deficits themselves are not unusual during uncertain economic cycles, economists have pointed out that the budget does not yet outline a clear path to returning the province’s debt levels to a more sustainable trajectory. Over time, rising debt-service costs can reduce the government’s flexibility — limiting its ability to provide tax relief or fund new initiatives.

For those of us who work closely with housing every day, the bigger question is how policy decisions today shape the future supply of homes across the province.

The Supply Question: A Key Concern

One of the central challenges in British Columbia’s housing market remains housing supply. Population growth continues, while new home construction has already begun to slow in some areas due to rising costs and economic uncertainty.

The concern expressed by industry economists is that several measures introduced in the budget may further increase the cost of building new homes — at a time when encouraging development is widely viewed as critical to improving long-term affordability.

According to BC Real Estate Association Chief Economist Brendon Ogmundson:

“There is unfortunately not a lot to like from either a macroeconomic or housing perspective in this budget… doing so on the back of an already struggling housing sector will ultimately prove to be self-defeating.”

Key Measures That Affect Real Estate

Several policy changes introduced in the budget directly affect those who own property, develop housing, or invest in residential real estate.

1. Higher Additional School Tax on Higher-Value Homes
Beginning in 2027, the province will increase the Additional School Tax applied to residential properties assessed above $3 million.

The new rates will be:

• 0.3% (up from 0.2%) on assessed value between $3M–$4M

• 0.6% (up from 0.4%) on assessed value above $4M

This tax applies to most residential property types including detached homes, townhomes, condominiums, and vacant residential land. For mixed-use buildings, it only applies to the residential portion of the assessed value.

On the North Shore — where property values frequently cross the $3M threshold — this change is likely to affect a meaningful number of homeowners over time.

2. Speculation and Vacancy Tax Increase
The Speculation and Vacancy Tax will also increase beginning in 2027.

For foreign owners and untaxed worldwide earners, the tax rate will rise from 3% to 4% on the assessed value of the property.

The intent of the tax is to encourage homes to be occupied rather than left vacant. However, some economists argue that higher taxes on foreign ownership may also discourage investment capital that could otherwise support new housing construction.

3. Rising Development Costs
Other measures within the budget — including changes affecting taxation on development land and the application of provincial sales tax to certain professional services related to housing — may increase what developers refer to as “soft costs”.

Those costs are typically passed along within the final price of new homes.

In practical terms, that means policies intended to improve affordability can sometimes have the opposite effect if they increase the cost of building housing in the first place.

Why This Matters for the Market

Housing markets are influenced by many forces — interest rates, population growth, economic conditions, and policy decisions.

While the immediate impact of the 2026 budget will likely be modest, policies affecting development costs and investment can shape the housing landscape over the coming years.

In a province where demand for housing remains strong, many economists believe the long-term solution lies in increasing the supply of new homes across all price ranges.

Our Perspective

From what we are seeing on the ground here on the North Shore, the spring market is already beginning to take shape.

Buyers remain active, inventory is gradually increasing, and well-priced homes are continuing to attract strong interest. Policy changes like those introduced in this budget tend to influence the market gradually rather than overnight.

What matters most for homeowners and buyers is understanding the broader direction of the market — and how changes like these may affect long-term planning.

As always, if you have questions about how new policies may affect your home, your property taxes, or the broader market, we are always happy to help you make sense of it.

No pressure — simply here as a resource whenever you need it.

In Budget 2026, the Government of British Columbia proposed a significant change to the Property Tax Deferment Program—primarily affecting the interest rate structure on deferred taxes.

Here is a clear breakdown of what changed.

1. Higher Interest Rate on Deferred Property Taxes

Beginning with taxes deferred for the 2026 taxation year and onward, the interest rate on deferments will increase to:
Prime rate + 2%, compounded monthly.

This applies to both:

• the Regular Program (typically for homeowners 55+, surviving spouses, or people with disabilities), and

• the Families with Children Program.

Previously, the two programs had different interest structures and generally lower rates tied to government borrowing costs.

2. Interest Will Now Compound

Another important change:

• Interest on new deferments will compound monthly, rather than being simple interest.

This means interest is charged not only on the original deferred tax amount but also on accumulated interest, increasing the long-term cost of deferment.

3. Existing Deferred Taxes Are Not Affected

Amounts already deferred before 2026 will remain under the previous interest terms and are not retroactively changed.

Only new deferrals starting in 2026 will use the updated rate and compounding method.

4. What the Program Still Does

The program itself remains the same structurally:

• It allows eligible homeowners to delay paying annual property taxes.

• The Province pays the tax to the municipality.

• The deferred amount becomes a loan secured against the property title, typically repaid when the home is sold or transferred.

✅ In practical terms:

• The program still provides liquidity for homeowners (especially seniors).

• However, the cost of using the program will be noticeably higher going forward due to the higher rate and compounding interest.

Many seniors on the North Shore use this program to stay in their homes. The change effectively moves the deferment loan closer to market borrowing rates, which may influence whether homeowners defer taxes or pay them annually.

Credit Source: Ryan Bacchus, Certified Financial Planner (CFP) and Associate Financial Advisor & Reg Sangha, Financial Associate & Advisor at RGF Integrated Wealth Management

While the calendar may still say winter, the North Vancouver real estate market is already showing early signs of spring activity. Each year, momentum tends to build quietly before the traditional March-to-May peak — and that shift is now underway.

For Sellers

Buyers are out there — and they’re prepared.
Serious purchasers have started their search earlier this year, watching closely for new listings. Well-prepared homes that come to market now are seeing strong early interest, particularly when priced in line with current conditions.

Competition is growing.
Inventory is beginning to rise, which means sellers entering the market this spring will be competing with more choice than we’ve seen in recent years. Strategic pricing and thoughtful presentation will make all the difference.

Timing can be advantageous.
Listing at the start of the spring cycle can allow your home to stand out before the market becomes more crowded later in the season.

For Buyers

More options are arriving.
As new listings come online, buyers will see greater selection across property types and price ranges. This is often when opportunities appear that weren’t available earlier in the year.

A calmer pace allows for thoughtful decisions.
While desirable homes can still attract strong interest, the overall environment feels more balanced, giving buyers time to evaluate choices carefully.

Preparation remains key.
The most successful buyers are those who are ready to act when the right property appears — particularly for homes that are well-located, well-maintained, and priced appropriately.

OUR PERSPECTIVE

The early spring market often sets the tone for the months ahead. Whether you’re considering selling, buying, or simply staying informed, this is an important moment to understand how the landscape is evolving.

If a move is on your horizon for 2026, even if it’s not immediate, we’re always happy to provide guidance so you can plan with clarity and confidence.

If you’ve been wondering what’s actually happening in our local real estate market — and whether this is a good time to sell — you’re not alone. Many homeowners are quietly watching and waiting.

Here’s the current reality on the North Shore:

Buyers are active, but thoughtful.
The urgency we saw in past years has eased. Today’s buyers are taking their time, comparing options carefully, and making measured decisions.

Inventory is higher than it has been.
More homes on the market means more choice for buyers — and more competition between sellers. Preparation and presentation matter more than ever.

Pricing correctly from the start is key.
Homes that align with current market conditions are attracting interest and selling. Properties priced above today’s expectations are often being overlooked as buyers move on to better-positioned options.

Well-prepared homes are standing out.
Condition, layout, natural light, and overall presentation are making a noticeable difference in how quickly a property sells and the kind of offers it receives.

There is opportunity — even in a calmer market.
While the pace is more measured, serious buyers are still out there, especially for homes that are thoughtfully priced and move-in ready.

OUR PERSPECTIVE

You don’t need to make any decisions immediately. But if selling is something you’re considering in 2026 — even if it’s months away — this is a smart time to understand where your home fits in today’s landscape.

As always, we’re here to provide insight whenever you need it, with no pressure and no expectations.

Many people ask this question at the start of the year — especially after the last few years of noisy headlines and fast-moving markets.

The short answer?

You don’t need to make any decisions today — but this is a good time to start paying attention.

Right now, there’s breathing room again. Thoughtful decisions are back in style. The pace feels calmer, more deliberate, and far less reactive than what we’ve seen in recent years.

On the ground, what we’re noticing is more intelligent pricing. Sellers are, by and large, pricing homes more accurately from the start, rather than “testing” the market and chasing it down later. That shift alone makes the landscape easier to navigate — whether you’re buying, selling, or simply observing.

What we’re watching closely as we move toward spring is inventory growth and sales activity. These two indicators tend to quietly shape the months ahead, long before the broader headlines catch up. Understanding how supply and demand are unfolding locally can provide valuable context — even if you’re not planning to move anytime soon.

And that’s an important point.

Even if you’re not moving this year, staying aware of what’s happening in the market still matters. Knowing how your home fits into the bigger picture — how equity is shifting, how timing affects options, and what flexibility you may have down the road — can be thought of as a form of financial self-care. It’s not about pressure or urgency; it’s about being informed.

If you are pondering a move this year, consider this your permission to simply observe for now. You don’t need to decide today. But paying attention early often leads to better, more confident decisions later.

And if you ever want to talk things through — whether it’s a specific plan or just a “where do things stand?” conversation — we are always happy to be a sounding board.

Posted 5-year Mortgage Rates:

January 2025: 6.79%
January 2026: 4.56%

Savings per $100K per month: $130.69

2025 Year-End Market Insights

Bottom Line

For many buyers, especially financially qualified ones, the North Shore is currently a favourable market to buy because:

• Inventory is elevated and sales are below historical norms, creating buyer leverage.

• Prices have softened or stabilized compared with recent highs.

• Mortgage rates are more predictable and lower than in the past year.

• Forecasts suggest modest market improvement ahead, so buying before broad demand re-emerges may be advantageous.

Historically, the first quarter of the year offers a unique window of opportunity for home sellers—and the data this year reinforces that pattern.

As shown in our current North and West Vancouver listing graph, the number of active residential listings at the start of January is materially lower than what we consistently see as we move toward spring and summer . This is not an anomaly. It is a seasonal trend that repeats itself year after year.

Less Competition Means More Attention

With fewer homes on the market right now, well-priced properties face less competition for buyer attention. Buyers who are active in January and February are typically motivated, informed, and prepared to act—often because they chose not to wait for the busier spring season.

Inventory Predictably Rises as Spring Approaches

The historical data clearly shows that listing counts climb steadily from late winter through early summer. As inventory rises, sellers are no longer competing with dozens of alternatives—they are competing with hundreds. More choice for buyers inevitably means longer decision cycles and increased pricing pressure.

Early Sellers Often Control the Narrative

Listing before the seasonal surge allows sellers to establish value without being influenced by a flood of comparable homes. In many cases, this translates to stronger showing activity and cleaner negotiations, simply because buyers have fewer substitutes.

The Takeaway

The next 60 days represent a strategic selling window:

• Inventory is still low

• Buyer demand is present

• Competition will only increase from here

For homeowners considering a move this year, timing can be just as important as pricing and presentation. Acting before the spring inventory wave arrives can meaningfully improve positioning in the market.

Each January, homeowners across British Columbia receive their annual property assessment, and with it often comes confusion. Many people wonder: Is this what my home is really worth? The short answer is — not necessarily.

Assessed Value vs. Market Value

In British Columbia, property assessments are prepared by BC Assessment and reflect market value as of July 1 of the preceding year. That timing is critical.

A REALTOR®’s opinion of value reflects today’s market conditions, while your assessment is based on a snapshot from roughly six months earlier. In changing markets, this timing gap can create noticeable differences between assessed value and current market value.

Why Assessed Values and Market Values Differ

There are two main reasons:

1. Mass appraisal methodology
BC Assessment uses a mass appraisal system. Values are derived primarily from MLS® sales data within neighbourhoods or strata complexes, rather than individual property inspections. This broad approach is effective for taxation purposes but does not account for unique features, renovations, condition, or micro-market influences.

2. Time lag
Your 2026 assessment reflects estimated market value as of July 1, 2025 — not today. When markets shift, assessed values may lag behind real-time pricing.

What Assessments Are Really For

Market-value assessment is widely considered the fairest way to distribute the property tax burden across homeowners. However, it is important to understand that assessed value is not designed to be a precise indicator of what your home would sell for today.

Key Definitions

• Market Value:
  The price expected if a reasonable amount of time is allowed to find a purchaser, and both buyer and seller are fully informed.

• Assessed Value:
  The most probable price an unencumbered property would have sold for on the open market as of July 1 of the preceding year.

What’s Happening With 2026 Assessments

According to BC Assessment, the cooling housing market is now being reflected in 2026 values. Many homeowners across the Lower Mainland are seeing assessed value decreases ranging from 0% to approximately 10%, based on July 1, 2025 valuations.

In response to these changes, the British Columbia Ministry of Finance has also adjusted the B.C. Homeowner Grant threshold for the first time in six years. For 2026, the threshold has been reduced to $2.075 million, down from $2.175 million last year, aligning with lower assessed values across Metro Vancouver.

Why This Matters to You

A lower assessed value does not automatically mean lower property taxes, as taxes are determined by municipal budgets and tax rates. However, assessments do affect eligibility for programs such as the homeowner grant and provide insight into broader market trends.

If you are considering selling, refinancing, or simply want to understand your home’s current value, an assessment should be viewed as one data point — not the full picture.

As always, we are happy to provide a current market evaluation and context specific to your property and neighbourhood.

When conditions shift in favour of buyers—more supply, longer days on market, and increased negotiation leverage—pricing discipline becomes the seller’s most important tool. Here are the three foundational strategies, along with the key considerations for each.

1. Market-Matching Pricing (Price at or just below the most recent comparables)

What it is:
Setting the asking price directly in line with the most recent and relevant sales, or marginally below them, to ensure the home ranks as a “best value” option in the active inventory.

When to use it:

• Inventory is high and competitive.

• Nearby comparables have sold recently at clearly defined price points.

• The goal is predictable, steady buyer engagement without a prolonged marketing period.

Things to be aware of:

• Buyers in a soft market are extremely price-sensitive; even being slightly above the pack can result in no showings.

• This strategy avoids overpricing risk but does not typically generate bidding pressure—expect more linear negotiations.

2. Value-Leader Pricing (Price below market to create momentum and competition)

What it is:
Intentionally positioning the property below the anticipated sale price to drive traffic, urgency, and in some cases, multiple offers—even in a buyers’ market.

When to use it:

• The home is highly desirable (best layout, updated, private, great light, strong location).

• Neighbourhood inventory is stale, and a standout listing can capture concentrated attention.

• Sellers are motivated to sell within a defined timeframe.

Things to be aware of:

• This is not “discounting”—it is a strategy to shift the psychology of the market from slow to active.

• It requires confidence in the product. If the home has major deferred maintenance, the strategy may simply anchor buyer expectations lower.

• Timing, marketing, and presentation must be flawless to capitalize on the momentum this strategy creates.

3. Aspirational Pricing (Price above market while watching inventory and feedback closely)

What it is:
Setting a slightly higher price to test the upper boundary of the market, usually with flexible expectations and planned checkpoints for adjustment.

When to use it:

• The seller is not time-sensitive.

• The home offers uncommon features, but the value of those features is hard to quantify with comps alone.

• There is very little direct competition.

Things to be aware of:

• Overpricing is far more damaging in a buyers’ market than in a balanced or sellers’ market.

• Traffic drops quickly when buyers perceive a price as unrealistic; they don’t test high prices with low offers—they simply skip the home.

• The longer the property sits, the steeper the eventual discount tends to be.

• A predetermined adjustment timeline (e.g., 14–21 days with little activity) is critical to protect momentum.

Key Realities Sellers Should Understand

Regardless of the strategy chosen, sellers in a buyers’ market should be aware of:

1. Momentum is everything

A new listing gets its highest visibility in the first 10–14 days. Pricing must support that window of opportunity.

2. Buyers judge quickly and harshly in soft markets

If the price feels unbelievable, buyers lean away—silently. They don’t send feedback; they simply move on.

3. Stale days on market carry an emotional cost

Each additional day increases the likelihood of deeper negotiations and lower offers.

4. Presentation and condition matter more

With more choice, buyers gravitate to the best-looking, best-priced homes. Deferred maintenance becomes more expensive to the seller in a buyers’ market.

5. Adjustments are a strategy, not a failure

Market-responsive pricing changes keep a listing relevant and protect the seller’s final outcome.

✅ Evidence in favor of a “pause / in-transition” market now

• Sales remain significantly below long-term norms. The October 2025 report from GVR shows 2,255 residential sales — 14.3% fewer than October 2024, and some 14.5% below the 10-year seasonal average.

• Inventory remains elevated. As of October 2025, there were 16,393 active listings — up 13.2% from a year ago and well above the 10-year seasonal average of about 12,063.

• Sales-to-active-listings ratio is low (especially for certain segments). In October 2025, the ratio was 11.3% for detached homes — below the ~12% threshold typically associated with downward price pressure.

• Benchmark prices — especially for detached homes and apartments — are pressured or slipping. October 2025 saw decreases in benchmark prices for detached homes, condos, and townhouses (compared with the prior year).

• Province-wide outlook expects modest growth, not a boom. According to BCREA’s “2025 Fourth Quarter Housing Forecast,” the average price in BC is expected to rise only ~4% in 2026, with the market described as “balanced,” driven partly by a rebound in higher-cost Lower Mainland markets.

• Overall, residential sales across BC remain sluggish. BCREA reported a decline in total MLS® residential sales in October 2025, down about 10.2% compared with October 2024.

All of this suggests that demand is out of sync with supply at the moment — more choices than buyers, especially among certain segments, which naturally slows things down. For a buyer, that’s likely good news (more selection, less competition). For a seller, it means a more tempered — and cautious — market.

🔄 Signs the Market Might “Restart” or Shift Toward Balance by 2026

That said — calling it a full “freeze” would be misleading. There are reasons to believe 2026 could bring renewed momentum, which makes “pause” a helpful — but temporary — descriptor.

• According to BCREA’s forecast, 2026 is expected to bring a rebound: they forecast a rise in MLS® sales (and a mild uptick in prices), as markets across BC — including the Lower Mainland — regain some momentum.

• Some segments may already be stabilizing: GVR’s June 2025 data saw sales down ~9.8% year-over-year, but the year-over-year decline was roughly half of the prior month’s drop — a sign that the downward spiral might be bottoming out.

• The broader public commentary and market-commentary (from local brokerages, economists) suggest that what we’re seeing is “normalization” — not collapse. Many analysts expect 2025–2026 to return more to “long-term norms” rather than the extremes seen in boom years.

So — while things are slow now, the pieces are in place for a rebound or at least a market stabilization by mid-2026, rather than a prolonged slump.

📍 What “Pause Until 2026” Means — and What It Doesn’t

When we say “pause until 2026,” we mean:

• A balanced or buyer-favoured environment — not a market crash, but a calmer, more measured pace than the frenzy of 2021–2022.

• Selective activity — certain segments / property types (price range, neighbourhood, property style) will outperform others; what moves may depend on pricing, condition, and marketing finesse.

• Opportunities for both buyers and sellers — buyers get more choice and negotiating power; sellers who price well & market smart may still do well, though timing and positioning matter more than ever.

• Less volatility overall — price swings likely to be muted compared with the past few years.

But that doesn’t mean:

• No deals — there will still be sales; some properties will draw interest, especially well-positioned ones, and motivated buyers will still act.

• Uniformity across Greater Vancouver — local variances (by municipality, neighbourhood, property type) will drive different results; North Vancouver may not behave exactly like Surrey or downtown Vancouver.

• Guaranteed rebound by 2026 — forecasts always carry uncertainty; economic conditions, interest rates, immigration, and other macro factors could shift the trajectory.

We think that “pause until 2026” is more or less what the data reflect now, especially for Metro-Greater Vancouver broadly. But I’d phrase it not as “a freeze,” but as “a market resetting toward equilibrium,” with potential upside if macro conditions align (rates, economy, immigration, buyer confidence, etc.).

A lot can go wrong in a home that can be costly to repair – it can also often be dangerous. In the case of electrical issues, they can range in severity from the inconvenience of power disruption to the threat of fire or electric shock. There are several common electrical issues that you can be aware of so you’ll feel more at ease if they come up during showings or even after a purchase.

 Electrical experts find and fix issues before they become hazards

 In many cases, common signs could point toward multiple potential problems. This is why an expert is often required to pinpoint and fix any issues so the home and its occupants always remain safe and the electrical system runs properly.

In addition to being able to identify common electrical issues and their causes, it’s wise for all homeowners to have a trusted electrician to call when they sense something isn’t quite right. It’s always helpful to have a list of local experts on hand so you can help make future repairs easier for your buyers.

 Five electrical issues for which an electrician may be needed

1. Sparking from an outlet or a loose, discolored outlet. This could indicate faulty wiring and should be addressed immediately to prevent fire.

2. Flickering lights. Try changing the lightbulb and ensuring it’s fully screwed into the fixture. If this doesn’t fix the problem, flickering may indicate an overloaded circuit, a loose connection, the wrong type of lightbulb being used, faulty switches or voltage changes.

3. Rodents present in the house. Rodents love to chew – and their snack of choice is often electrical wiring. They also enjoy nesting around junction boxes. Be sure to check these areas once you discover rodents in the home. Faulty wiring caused by rodents will often produce flickering lights as well, so also check these areas if changing the lightbulb doesn’t solve point number two above.

4. Short circuits. Outdated or improperly installed wiring can become a hidden danger, lurking behind walls and ceilings. Over time, wear and tear can compromise the integrity of the wiring, leading to short circuits and potential fire hazards.

5. Overloaded circuits. In a time where our lives revolve around electronic gadgets, it’s tempting to plug in multiple devices to a single power strip. But, overloading circuits is a common issue that can lead to tripped breakers and, in more severe cases, electrical fires. Understanding the capacity of the electrical circuits and avoiding excessive use of power strips is essential. Distributing electrical loads evenly across different circuits and considering an upgrade if needed can prevent overloads and enhance the home’s overall safety.

The importance of maintaining a home’s electrical system is one key area that an annual home maintenance inspection addresses. The home inspector will be looking for these electrical issues and more. This is also a great time for your clients to bring up any issues they’ve noticed throughout the year that weren’t remedied right away.

Preventative maintenance not only offers homeowners peace of mind, but it can also point to areas that, if addressed sooner rather than later, can actually help save them money. Regular inspections, timely repairs and upgrades when necessary are crucial steps in maintaining a secure and reliable electrical infrastructure.

By addressing these top five electrical issues, homeowners can worry less knowing that their living space is safeguarded against power disruptions and potential electrical hazards.

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – getting pre-approved early is still one of the smartest moves you can make. Why? Because, like anything in life, the right prep work makes things clearer.

The best time to get serious about buying is before you’re ready to buy. Here’s why.

Pre-Approval Helps You Understand Your Numbers

One of the biggest benefits of pre-approval is how it helps you understand your buying power. As part of the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score, and more. That number is power.

Once you have that clarity, you’re no longer guessing. You know what you’re working with. And that gives you the information you need to be able to plan ahead. That way, you’re not falling in love with homes that are outside of your price range – or missing out on ones that aren’t.

Pre-Approval Helps You Move Quickly When You’re Ready

You don’t have to be ready to buy to be ready to buy.

It happens all the time – someone scrolls through listings just for fun, and then BAM – they fall in love with something they see online. But by the time they scramble to connect with an agent and then get pre-approved with a lender, someone else beats them to it, and they lose the home. And you don’t want that to happen to you.

While you can’t control when the right home shows up – you can be ready for it.

Pre-approval isn’t about jumping the gun or rushing your timeline. It’s about making sure you’re ready when it’s go-time. As Experian explains:

“Waiting too long to get a preapproval, however, could leave you at a disadvantage . . . you could find the perfect home, but another buyer could snatch it up while you’re waiting for the lender to review your preapproval application. . . getting a preapproval just before you begin actively looking at homes may be your best option.”

Instead of rushing to figure out your numbers, trying to get documentation for your home loan together, and watching the house you love slip away while you wait to hear from your lender, you’re already in the game.

It’s like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.

But pre-approvals do have an expiration date, so be sure to ask your lender how long it’s good for. Bankrate offers this insight:

“Many mortgage preapprovals are valid for 90 days, though some lenders will only authorize a 30- or 60-day preapproval. If your preapproval expires, getting it renewed can be as simple as your lender rechecking your credit and finances to ensure there have been no major changes to your situation since the first time ‘round.”

The thing is, if you’ve been pre-approved – even if you’re just thinking about casually looking – you have a much better sense of how to navigate your home search within your budget. Plus, you’ll be ready if the perfect home comes along. So why not make it happen?

Bottom Line

Getting pre-approved doesn’t mean you have to buy a house today. But it does mean you’ll know what you're working with when the right one shows up. If you want to get pre-approved, connect with a lender to get that process started.

In the meantime, have a conversation with an agent about what's on your mind and what you're looking for.

If the perfect house popped up tomorrow, would you be ready to make a move?