Why Buyers Are Missing Opportunities in Today's Market

by Debbie Evans

Why Buyers Are Missing Opportunities in Today's Market

Market Preparation & Buyer Strategy · Metro Vancouver Real Estate · June 2026

One of the most common comments I hear is: "Who would buy anything right now?" The reality is that people are still moving every day. The question isn't whether people are buying. The question is whether they're ready — and readiness, far more than market conditions, is what separates buyers who succeed from buyers who don't.

I'm working with downsizers who want to age gracefully in place. I'm helping growing families who need another bedroom after welcoming a new child. I meet people relocating for work, empty nesters looking to simplify, and homeowners searching for a property that better suits their lifestyle. Life doesn't pause for markets. But markets do punish buyers who show up unprepared.

The Conversation I Had This Morning

This morning I was working with buyers who were interested in a specific property. Before we could determine whether it was the right fit, we had to step back and calculate their current mortgage balance, estimated sale proceeds, and monthly carrying costs on the new home. Once we reviewed those numbers together, the conversation became much clearer — and so did the decision.

Pre-Search Readiness Checklist

Is the mortgage pre-approval current — and is it in writing?
When does the pre-approval expire?
What is the current mortgage balance on the existing home?
How much equity will be available after selling?
What will the actual monthly payment be on the new property?
What are the full closing costs, accounted for in detail?

These questions may not be exciting, but they are often the difference between successfully purchasing a home and facing disappointment. I have seen buyers lose properties they loved — not because another offer was better, but because they hadn't yet answered these questions when the opportunity appeared.

The Biggest Mistake Buyers Make

Many buyers focus on a single number: "What can I afford?" Unfortunately, that's only part of the story. A buyer may be approved for a certain amount, but that doesn't automatically mean the purchase makes financial sense.

Too often, buyers fail to consider the full picture of what a move actually costs:

The True Cost of Moving — What Buyers Often Overlook

Mortgage payout penalty on the current home
Realtor fees on the sale side
Legal costs — both sides of the transaction
Property Transfer Tax on the purchase
Moving expenses
Home and contents insurance adjustments
Property tax adjustments and prepayments
Strata fees, if applicable
Maintenance, repair, and immediate renovation costs
Emergency reserves for the unexpected

The purchase price is only one piece of the financial picture. Buyers who focus exclusively on the list price — and skip the full cost accounting — often discover mid-transaction that their position is less comfortable than they believed.

Being approved for an amount and being financially prepared to close on that amount are not the same thing.

Why Some Deals Fall Apart

Not every failed transaction is caused by the property itself. Many transactions fall apart because buyers discover issues after they've already found the home they want — after they're emotionally invested, after they've told family and friends, and sometimes after they've already offered.

Sometimes financing isn't fully confirmed. Sometimes the monthly costs are higher than expected once strata fees, insurance, and property taxes are factored in. Sometimes buyers realize they need to sell first, and haven't prepared their current home for market. Any of these can derail a purchase — not because the opportunity wasn't right, but because the preparation wasn't done in advance.

What This Looks Like at the Luxury End of the Market

Luxury buyers face the same challenge as everyone else — the numbers still have to work. High-end properties have seen extended days on market and meaningful price reductions in some cases, and lenders apply stricter appraisal standards at higher price points where comparable sales can be limited. When purchase prices reach several million dollars, the gap between a lender's appraised value and the contracted price can be significant — and buyers who haven't stress-tested that scenario in advance can find themselves unable to close.

Whether you're buying a $900,000 condo or a $20 million waterfront estate, the underlying issue is the same. If the numbers don't work, the deal doesn't work. That's not a luxury market observation. That's a preparation observation.

The Buyers Who Succeed

The buyers who move successfully are usually the ones who prepare before they shop. By the time they walk into a showing, they already know:

What Prepared Buyers Know Before They Start

What their current home is worth — and what it could realistically sell for in the current market
How much net equity will be available after selling costs
What their true monthly budget is, with all carrying costs modelled in
What their financing options are, with current pre-approval documentation in hand
What the full cost of the move will be, from deposit to move-in day
Whether they need to sell before buying — and if so, what timeline that creates

When the right opportunity appears, these buyers can move confidently and quickly. They're not scrambling to call their banker or figure out whether the numbers work. The numbers are already done. They're choosing — not catching up.

A Note on My Perspective

I bring nearly forty years of experience in construction, renovation, and residential design to every property evaluation — alongside my credentials as both a REALTOR® and a Registered Interior Designer. That combination matters most in markets like this one, where understanding what a property is actually worth — beyond its list price — requires reading build quality, finish standards, layout efficiency, and long-term maintenance cost alongside the comparables.

In a market where buyers have more time and more choice than they did a few years ago, the prepared buyer has a genuine advantage. Properties that have sat for extended periods are often negotiable in ways they wouldn't be in a rising market. The window to move thoughtfully and strategically — without the pressure of a competing offer — is real. But only for buyers who have already done the work.

The market doesn't reward the smartest buyer. It rewards the prepared buyer.

Whether you're downsizing, upsizing, relocating, or planning your next chapter, preparation is what turns opportunity into action. If you're considering a move and would like to understand your options, I'd be happy to help you build a plan before the right property comes along.

Should You Sell Before You Buy?

This is one of the most common questions I work through with clients — and the answer is almost always: it depends on your equity, your financing, and your timeline. But in most cases in today's market, having a confirmed sale either completed or well underway before buying puts you in a significantly stronger position.

Here's why. Your equity isn't real until your current home closes. A buyer who is carrying an existing mortgage while trying to finance a new purchase has to qualify on both obligations — and that changes the numbers materially. Lenders will look at your total debt load. Sellers will look at whether your offer is subject to your home selling. In a market where sellers have options, conditions create hesitation.

There are situations where buying before selling makes sense — bridge financing exists, and some buyers have the liquidity to carry both properties comfortably for a period of time. But those situations require the same foundation: you need to know your numbers before you decide which sequence makes sense.

If you're weighing the sell-first versus buy-first question, that's exactly the kind of planning conversation I have with clients before they start actively searching. The answer is different for everyone — and getting it right at the start avoids a great deal of stress later.

Frequently Asked Questions

Questions I hear regularly from buyers navigating today's market — whether they're just beginning to consider a move or already well into the search.

Is now a good time to buy?

That depends far more on your personal financial position than on market conditions in the abstract. People who are financially prepared — with confirmed financing, a clear picture of their equity, and the full costs of the move accounted for — have genuine opportunities right now, particularly at the higher end of the market where inventory is elevated and sellers are negotiating. People who aren't prepared will find those same conditions stressful rather than advantageous. The market is less relevant than your readiness.

What's the difference between being pre-approved and being ready to buy?

Pre-approval tells you what a lender is currently willing to lend based on your income and credit profile. Being ready to buy means you also know your full carrying costs — strata fees, property taxes, insurance, maintenance — and have confirmed that the monthly number works. It also means you've accounted for closing costs: Property Transfer Tax, legal fees, moving costs, and any immediate work the property needs. Many buyers who have pre-approvals in hand haven't done this second layer of financial modelling, and discover mid-transaction that the purchase is less comfortable than it appeared on paper.

Should I sell my current home before buying?

In most cases in the current market, yes — or at minimum, you should have a very clear, written plan for the timeline if you intend to buy before selling. Carrying two properties simultaneously requires significant liquidity and borrowing capacity that most buyers underestimate. More importantly, your equity isn't real until your current home closes. I work with buyers on this sequencing question regularly, because the right order depends on your specific mortgage situation, your target price range, and the supply conditions in the areas you're looking at.

What is Property Transfer Tax and how much will it be?

Property Transfer Tax (PTT) is a BC provincial tax payable by the buyer on most residential real estate transactions. The rate is 1% on the first $200,000, 2% on the balance up to $2 million, 3% on the portion from $2 million to $3 million, and 5% on amounts above $3 million. There are exemptions for some first-time buyers and some new construction purchases, subject to price and other eligibility criteria. PTT is one of the most commonly underestimated closing costs — on a $2 million purchase, it's $38,000 before any exemptions. It's real money that needs to be in your budget from day one.

What is happening in the luxury market right now?

The luxury segment is facing different pressures than the broader market. High-end properties — particularly condos and penthouses — have seen extended days on market and meaningful price reductions in some cases. Lenders apply stricter appraisal standards at higher price points, and comparable sales can be limited, which creates real financing complexity. All of this creates opportunity for well-prepared buyers — but it also raises the stakes for anyone who arrives without confirmed financing and a clear picture of their total costs. The margin for error doesn't get larger as the price goes up. It gets smaller.

What should buyers and sellers both understand going into this market?

Both sides need realistic expectations grounded in current data — not what the market was doing two years ago, and not what a neighbour thinks their home is worth. Buyers need confirmed financing, a full accounting of carrying costs and closing costs, and a clear understanding of their equity position and sale timeline. Sellers need an accurate read on current buyer expectations, the competition they're facing, and how pricing and presentation affect how quickly a property moves. The transactions that fall apart are usually the ones where one party — or both — skipped that homework. The ones that close smoothly are the ones where the groundwork was done before anyone signed anything.

How do I know what my current home is worth?

An accurate current market evaluation — not a Zestimate, not a neighbour's sale from eighteen months ago — is the essential first step. What your home is worth depends on recent comparable sales in your immediate area, the current pace of buyer activity, and how your property compares on condition, layout, and presentation. As a REALTOR® and Registered Interior Designer with nearly four decades of experience in residential construction and renovation, I evaluate properties on all of these dimensions. If you'd like to understand what your current home would realistically sell for in this market, I'm happy to walk through that with you — without obligation.

How can you help me prepare before I'm ready to buy?

The earlier we talk, the better. Understanding your equity position, your financing options, the true cost of a move, and the market conditions in the areas you're interested in — all of that can be worked through well in advance of an active search. I help buyers build a realistic plan so that when the right property appears, the answer isn't "I need to figure out if I can do this" — it's already yes or no, with confidence. That preparation is the most valuable thing I can offer in a market like this one.

Sources & References

The market observations in this post reflect current conditions in Metro Vancouver as of June 2026, drawn from Debbie Evans's direct experience working with buyers and sellers across the region, combined with ongoing monitoring of local market data, industry reports, and publicly available transaction information. Specific statistics and third-party data are verified before publication. Readers with questions about current conditions in a specific neighbourhood or price range are encouraged to reach out directly.

Debbie Evans | REALTOR® & Registered Interior Designer

eXp Realty | West Vancouver, North Shore & Metro Vancouver

With nearly forty years of experience in residential construction, renovation, and design — and dual credentials as both a REALTOR® and a Registered Interior Designer — I evaluate every property on more dimensions than price. If you're considering a move and would like to understand your position before the right opportunity comes along, I'd be happy to help you build that plan.

westvanliving.ca

This content is for informational and educational purposes only and does not constitute financial, legal, or investment advice. Market data and examples reflect publicly available information as of June 2026. Property values, financing conditions, tax rates, and legal precedents are subject to change. All buyers should seek independent financial, legal, and real estate advice specific to their circumstances before making any property purchase decisions.