If you own property in British Columbia, you've likely just received your annual BC Assessment notice in the mail. This figure often sparks conversation, confusion, and sometimes frustration among homeowners. Is it what your house is really worth?

The short answer is no. The BC Assessment value and your home's actual market value are often significantly different.

Understanding why these numbers diverge is crucial for both budget planning and real estate decisions. The key distinction lies in their purpose, timing, and methodology.

The Sole Purpose of the BC Assessment

The BC Assessment value is not designed to be a real-time market appraisal of your home. Its sole purpose is to create an equitable, standardized base for calculating your municipal and provincial property taxes.

By ensuring all properties in an area are assessed using the same standardized rules, the system aims for fairness in how the property tax burden is distributed.

5 Key Reasons for the Value Discrepancy

Here is why your assessment notice may differ significantly from the price a buyer might actually pay:

1. The Critical 6-Month Time Lag

The most important factor is timing. The value you receive on your notice (typically in January) is assessed as of July 1 of the previous year.

In a fast-moving real estate market, a six-month lag is substantial. If your local market has been hot since July 1st, your assessment will likely be lower than the current market value. Conversely, if the market has cooled rapidly, your assessment might temporarily feel higher than what buyers are currently offering.

2. Mass Appraisal vs. In-Person Inspection

BC Assessment uses a "mass appraisal" system. They use statistical models and general market data from your neighbourhood (like recent sales of similar properties) to value thousands of homes efficiently.

An actual market value, determined by a professional appraiser during a sale or a potential buyer, involves a specific, in-person evaluation. They walk through every room, check the condition of the roof, examine the furnace age, and note specific flaws or high-end upgrades.

3. Condition and Interior Renovations Often Go Unnoticed

This is a major point of difference. BC Assessment generally does not know about internal factors unless you've pulled a permit.

• Did you renovate your kitchen last year without a permit? That specific high-value improvement might not be fully reflected in your assessment.

• Does your home have deferred maintenance issues (e.g., a leaky basement or ancient carpets)? A buyer would discount their offer significantly for these problems, but the BC Assessment may not account for them due to the lack of interior inspection.

4. It Doesn't Capture "Bidding Wars" or Urgency

The actual sale price of a home can be influenced by emotional factors, bidding wars, or a buyer's urgent need to move. These real-world market dynamics are not, and cannot be, factored into the standardized assessment process.

5. Assessed Value is a "Midpoint"

Assessors aim for a market value estimate, and there is a recognized "acceptable range" for assessments. It’s designed for tax equity, not for setting your listing price.

Ultimately, the BC Assessment is an important civic tool for tax fairness. It's a general snapshot of the market from six months ago.

If you are thinking of selling your home, use the BC Assessment notice as an interesting data point, but rely on a current comparative market analysis from a Realtor like myself to determine what your home is truly worth in today’s market.

The real estate landscape in Coquitlam has reached a unique tipping point. While the condo and townhouse segments remain relatively balanced, the detached home market is firmly in buyer territory. If you have been waiting to trade your strata property for more space and land, the current conditions offer a powerful financial advantage. 

1. The Power of the Mortgage Helper

One of the strongest arguments for moving into a detached home right now is the rental income potential. In Coquitlam, a 2-bedroom basement suite currently rents for approximately $2,300 to $2,700 per month. 

• Mortgage Coverage: At a $2,300 rental rate, this income can effectively cover roughly $450,000 in mortgage principal (depending on current interest rates).

• Strata Savings: By moving out of a condo or townhouse, you immediately eliminate monthly strata fees, which can range from $300 to $600+ depending on the building. These savings can be redirected toward your increased property taxes and insurance (for a guide to all associated costs, see this article on the true cost of homeownership). 

2. Market Conditions: Buyers Hold the Leverage

As of December 2025, detached home inventory has increased significantly.

• Price Adjustments: Benchmark prices for detached homes in several Coquitlam neighborhoods have seen annual decreases of 3% to 5%. For a detailed breakdown of local market stats, check the latest Greater Vancouver Market Report Infographics.

• Negotiating Power: With properties sitting on the market for an average of 30 to 33 days, buyers have more room to negotiate price, subjects, and closing dates than they have in years. 

3. Calculating the Total Cost of Ownership

While the mortgage-helper suite and strata savings are huge wins, it is important to factor in the change in carrying costs:

• Property Taxes: Detached homes typically face higher annual property taxes than condos. Coquitlam's 2025 tax rates saw an average municipal increase of roughly 6.83%.

• Insurance: Unlike a strata where your fees cover the building's exterior, as a detached homeowner, you are responsible for the entire property's insurance, which has seen upward pressure due to rising construction costs.

The Bottom Line

The "buy low" opportunity for detached houses is here. By leveraging the high rental demand in Coquitlam and the current lull in house prices, you can secure a long-term asset that pays for a significant portion of its own costs.

If you are interested in exploring specific listings that fit this profile, you can search all active listings on my website here. 

When you’re house hunting in Coquitlam, Port Coquitlam, or Port Moody, it’s easy to focus purely on square footage, bedroom counts, and benchmark prices. These numbers are vital, of course, but a house is just a structure. What makes it a home is the community that surrounds it.

The Tri-Cities area is more than just a convenient commute into Vancouver; it's a vibrant collection of unique neighborhoods each offering a distinct West Coast lifestyle.

Let’s take a break from the market analysis and explore some of the local gems that make living here so exceptional. Showcasing these amenities not only highlights the quality of life here but also underscores the long-term value of investing in a location you love.

🌲 Coquitlam: Nature Meets Urban Convenience

Coquitlam boasts an incredible balance of suburban comfort and natural wilderness, offering ample opportunity to disconnect from the hustle without leaving the city.

Featured Gem: Mundy Park

Mundy Park is Coquitlam's largest urban park and a true local treasure. Forget the gym membership; this park offers a vast network of shaded trails perfect for trail running, dog walks, or a peaceful afternoon stroll.

• Why we love it: It features two lakes (Mundy Lake and Lost Lake), a fantastic playground and water park for the kids, and even a designated off-leash dog area. It’s an everyday escape right in your backyard.

Community Highlight: Coquitlam Crunch

This beloved uphill trail is Coquitlam’s version of Vancouver's Grouse Grind. It's a challenging workout that offers fantastic views of the surrounding area. It embodies the active, outdoor-focused lifestyle many Tri-Cities residents cherish.

🍺 Port Moody: The Seaside Vibe & "Brewery Row"

Port Moody offers a charming, artistic, and seaside village atmosphere. It perfectly blends industrial roots with a lively cultural scene, all accessible via the Evergreen Extension.

Featured Gem: Brewery Row (Murray Street)

This is arguably the most famous local attraction for adults! Within a few blocks along Murray Street, you can hop between award-winning craft breweries like Yellow Dog Brewing, Moody Ales, and Parkside Brewery.

• Why we love it: It’s a perfect gathering spot on a sunny weekend afternoon. Many breweries are family- and dog-friendly, feature local food trucks, and foster a strong sense of local community that residents deeply value.

Community Highlight: Rocky Point Park

With its scenic pier views, walking trails, famous ice cream shop, and outdoor concert venue, Rocky Point Park is the heart of Port Moody’s summer scene. It offers easy access to the water for kayaking or paddleboarding, epitomizing the laid-back West Coast lifestyle.

🛶 Port Coquitlam: The Riverside Charm

Often the "value proposition" of the Tri-Cities, Port Coquitlam offers beautiful, family-oriented neighborhoods and incredible river access, often at a more accessible price point than its neighbours.

Featured Gem: The Traboulay PoCo Trail

This flat, 25.3-kilometre loop trail encircles the entire city of Port Coquitlam, following the Coquitlam and Fraser Rivers. It's a meticulously maintained urban sanctuary perfect for serious cyclists, casual walkers, and nature lovers.

• Why we love it: It feels secure and accessible year-round, connecting multiple parks and neighbourhoods. It’s a fantastic amenity that promotes health and connectivity across the city.

Community Highlight: Leigh Square Community Arts Village

This vibrant hub hosts year-round events, including farmers' markets, summer concerts, and community festivals. It fosters a small-town community feel right in the middle of a growing urban center.

Invest in More Than Just a House

Real estate is about finding the perfect base for your life. When you’re considering moving to or within the Tri-Cities, these local gems translate directly into quality of life, community engagement, and long-term neighbourhood desirability.

As a local realtor who lives, works, and plays here, I'm ready to help you find a home that fits your lifestyle goals—not just your budget.

Ready to find your perfect Tri-Cities neighborhood? Reach out today and let’s schedule a coffee (perhaps near Brewery Row!) to discuss your needs.

If you’re preparing to list your home in Coquitlam, Port Coquitlam, or Port Moody right now, you might notice a shift in the local landscape. The "go-go" seller's market we saw just a year or two ago is cooling, and the inventory of available homes is on the rise.

For sellers, this new reality presents a challenge: how do you ensure your home stands out and sells efficiently, rather than "sitting pretty" on the MLS for months?

The answer boils down to two critical factors: competitive pricing and exceptional presentation (staging).

The Problem with 'Sitting Pretty'

In a balanced or buyer-leaning market like the Tri-Cities is currently experiencing, time on market matters more than ever. When a listing goes stale—meaning it sits unsold for 30, 60, or even 90+ days—buyers start to ask questions: What’s wrong with the house? Is the price too high?

Stale listings often lead to lowball offers and a loss of negotiating power. The initial wave of excitement when a new property hits the market is your best window of opportunity; if you miss it by being overpriced, you’re often playing catch-up for weeks.

Factor 1: The Art of Competitive Pricing

Pricing your home effectively isn't about guessing; it’s about analyzing data and understanding current demand.

📈 Price to the Current Market, Not Last Year's Peak

We’ve likely moved past the peak pricing of early 2022. Your home's value today is determined by what comparable properties are selling for now, not what your neighbour achieved a year ago. We need to price for where the market is going, not where it's been.

🎯 The Goal: Attract the Right Buyers Immediately

In a high-inventory market, buyers have choices. Pricing your home competitively—often right at or slightly below the current fair market value—creates urgency. It ensures your property appears within the search parameters of serious buyers and their agents, driving viewings and, ideally, competing offers.

📊 A Data-Driven Approach

As your realtor, my strategy involves a detailed comparative market analysis (CMA). We look closely at active listings and recent sales in your specific Tri-Cities neighbourhood to find that sweet spot that maximizes your return while minimizing your time on the market.

Factor 2: The Power of Professional Presentation (Staging)

If pricing gets buyers to look online, staging gets them through the door—and makes them stay.

In a market crowded with listings, homes that present beautifully in photos and feel welcoming in person have a massive advantage. Staging is no longer an optional luxury; it’s a required marketing expense.

• It's About Depersonalization: Staging helps buyers visualize themselves living in the space, rather than just viewing your current home.

• It Highlights Potential: Stagers know how to arrange furniture and lighting to emphasize flow, space, and architectural features, minimizing flaws.

• It Boosts Perceived Value: A well-maintained, staged home suggests a well-cared-for home overall, giving buyers confidence in their investment.

The Bottom Line

Selling successfully in today's Tri-Cities market requires a proactive strategy.

Don't let your valuable asset 'sit pretty' on the market, losing momentum and value with every passing week. By combining a data-driven, competitive pricing strategy with professional staging, we can position your home as the premier choice for buyers right now.

Ready to discuss your Tri-Cities home sale strategy? Contact me today for a personalized consultation and market analysis.

"The moment I saw the numbers, my investing thesis changed forever. In Vancouver and the Fraser Valley, my home area, securing a modest, older detached house means facing a benchmark price that often hovers around $1.2 million to $2 million. With local rents, that purchase translates to zero, or even negative cash flow. I was investing purely on the hope of appreciation. That's why when I saw Moncton, New Brunswick's average home price sitting below $400,000, I knew I had found the solution. I could buy three properties in the Maritimes for the price of one teardown in BC. This is the story of how I stopped hoping for appreciation and started buying for positive cash flow by trading my familiar BC streets for a corner lot nearly a whole country away."

🔎 The Research: Following the MoneySense Map

Like many Canadian real estate investors, I live by the annual pilgrimage to the MoneySense "Where to Buy Real Estate in Canada" list. It’s how I chose my previous investment cities, like London, ON, and even closer to home in Chilliwack, BC. But with prices exploding everywhere, the goal shifted from finding a good market to finding a cash-flowing market.

Moncton, NB, kept popping up, and a deeper dive confirmed the attraction:

• Affordability: The barrier to entry was low, which meant I could leverage my down payment for a much higher rate of return on invested capital.

• Strong Demand: Moncton is one of Canada's fastest-growing cities, thanks to its growing economy, bilingual workforce, and influx of interprovincial migrants seeking affordability. This population boom has kept the rental vacancy rate incredibly low (often under 2%), ensuring tenant stability.

• The Taxes: The only initial sticker shock was the higher property tax rate for non-owner-occupied homes in NB, but the lower purchase price still made the overall picture work.

Once the research was complete, I secured a pre-approval from a mortgage broker and was referred to a great local realtor—my core team was in place.

🏡 The Purchase: A 4,000 km Showing

Buying a home sight-unseen (by me, anyway) is a leap of faith. The logistics were a challenge, so my sister flew to Moncton. She spent one whirlwind trip seeing about a dozen homes in Moncton and Saint John, giving her a crash course in Atlantic Canadian real estate.

The winner was an old home on a nice corner lot. Older homes are where the real cash flow potential is, but they always come with deferred maintenance risk. That risk became very real after the inspection.

The Reality Check: Unexpected Capital Expenses

The inspection revealed the house had been lived in for a very long time and was due for some major life-safety and structural upgrades. The two biggest were a full electrical rewiring and drain tile replacement.

Combined, these critical repairs ate up $20,000 of my initial contingency budget before a single tenant moved in.

The first year was truly a "school of hard knocks":

• We had a broken washing machine that needed replacement.

• We had to purchase an extra fridge to accommodate the room rental strategy.

• There were countless small repairs that chipped away at the income.

My initial cash flow projections were thrown right out the window for the first twelve months as we poured money into making the old house safe and functional.

The Key to Cash Flow: Renting by the Room

The financial strategy that makes this whole venture work came from the rental manager my realtor referred us to. Instead of renting the entire home to one family for a set price, they suggested we rent the rooms separately.

This is the key to maximizing income, but it flips the expense model:

By absorbing the utility costs and paying higher management fees, the rent per room is higher, attracting working professionals and students, and generating a much higher total net operating income than a single-lease strategy ever could.

Looking Ahead: A Positive Second Year

It’s easy to get discouraged when you have to spend $20,000 on major fixes in your first year. But the essential truth remains: I own a cash-flowing asset in a rapidly growing city, something that was an absolute impossibility in my home province of BC.

Now that the major capital expenses (wiring and drain tile) are complete, the foundation for the long-term success of this Moncton investment is set. I am highly optimistic that with only routine maintenance, the second year will finally allow the property to hit the projected numbers to turn a small profit.

It’s a long game, but sometimes you have to look 4,000 kilometers away to find a real estate market where the fundamentals of income and affordability still work.

Are you also a long-distance investor, or has BC priced you out? I'd love to hear about your experience in the comments below!

The Vancouver and Fraser Valley winter brings its own unique challenges—a persistent mix of heavy rain, the occasional deep freeze, and the resulting humidity. Protecting your home now can save you thousands in repairs later. As your local Real Estate expert, here is your essential guide to winterizing your property.

1. Water Management is Your #1 Priority 

The sheer amount of rainfall we receive in the Lower Mainland makes water damage the single biggest winter threat. Proper drainage protects your foundation, roof, and siding—key elements of your home’s long-term value.

• Check Your Gutters and Downspouts: Ensure they are clear of leaves and debris. A blocked gutter can cause water to back up under your roof eaves, leading to rot or interior leaks.

• Extend Your Downspouts: Make sure all water is being diverted at least six feet away from your foundation. Pooling water is the primary cause of damp basements and crawl spaces.

• Inspect Your Grading: The ground around your home should slope away from the foundation. If you are experiencing repeated water ingress, this may be a sign of a structural issue that needs an expert assessment.

2. Guarding Against the Deep Freeze 🧊

While less frequent than the rain, the sudden cold snaps can cause rapid and expensive damage, especially burst pipes.

• Insulate Outdoor Taps (Hose Bibs): Disconnect all garden hoses and attach foam faucet covers.

• Know Your Main Water Shut-Off: Every homeowner should know exactly where the main water shut-off valve is located. If a pipe bursts, shutting off the water quickly minimizes damage. (This is essential knowledge for any checklist!)

• Vulnerable Pipes: Open cabinet doors under sinks on exterior walls during extreme cold weather to allow indoor heat to circulate and prevent freezing. For pipes in crawl spaces or unheated garages, consider adding pipe insulation.

3. Combatting Mould and Moisture 🌬️

The combination of a cool exterior and warm interior creates condensation, making the Fraser Valley a hotspot for mould growth—a serious concern for both health and property value.

• Ventilation is Key: Ensure bathroom and kitchen exhaust fans are working and used regularly. In cold weather, it can be tempting to keep windows sealed, but brief ventilation periods are vital.

• Monitor Humidity: Aim to keep your indoor humidity level below 50%. Investing in a simple dehumidifier can make a huge difference in basements and laundry areas.

• Regular Inspections: If you are planning to sell soon, it’s crucial that your home is free of any moisture issues. You can start by getting a professional opinion on your home's current condition with a Home Evaluation.

4. Heating Efficiency and Safety 🔥

Ensure your home is running safely and efficiently before the core of winter hits. This not only saves you on energy bills but ensures your family's safety.

• Furnace Tune-Up: Have your furnace serviced annually. A clean, efficient unit will save energy and ensure it doesn’t fail when you need it most.

• Change Filters: Dirty filters restrict airflow, making your furnace work harder and consume more energy.

• Seal the Leaks: Check for drafts around windows and doors. Simple weather stripping can prevent heat loss. Every dollar saved on utilities is a dollar you can put toward your next down payment! Use our Mortgage Calculator to see how efficient spending impacts your purchasing power.

Ready to Buy or Sell this Winter?

Don't let the weather put your real estate goals on ice. Winter is often a slower season, meaning less competition for serious buyers and highly motivated sellers.

If you are thinking of entering the market, reviewing the seasonal market trends is crucial. You can find the latest data and insights on the Greater Vancouver and Fraser Valley regions on our Market Update.

Ready to talk about your move? Contact Me to book an appointment with a local expert today.

1. The Big, One-Time "Upfront" Costs (Closing Day)

For buyers in Metro Vancouver, the upfront costs are substantial due to high property values. Prepare for these fees, which are due before you get the keys.

• Property Transfer Tax (PTT): This is the largest closing cost.

  • In BC, it's 1% on the first $200,000 and 2% on the remaining value up to $2,000,000 (with higher rates above that).

  • Local Tip: First-Time Buyer Exemption: You may be exempt from PTT if you are a Canadian citizen or permanent resident, have lived in BC for at least 12 consecutive months, and the property's fair market value is $500,000 or less (with a proportional exemption up to $525,000). Given the average price of a home in Burnaby or Coquitlam, this exemption is most commonly used for condos in the area.

• Legal Fees & Disbursements: Typically range from $1,200$ to $2,000, plus GST, for your lawyer or notary to finalize the title transfer and mortgage.

• Property Tax and Utility Adjustments: You will reimburse the seller for any prepaid taxes, water, or garbage fees. Expect a few hundred to a couple of thousand dollars depending on the closing date.

2. The Recurring Monthly Costs (The "P.I.T.I. + M&M" Formula)

Your real monthly payment is more than just Principal and Interest. Think of it as P.I.T.I. + M&M (Principal, Interest, Taxes, Insurance, plus Maintenance and Mortage Insurance).

3. The Unpredictable Costs (The Tri-Cities Emergency Fund)

Set up a dedicated fund for home maintenance. Relying on an old-school budget is dangerous when facing the high costs of Metro Vancouver service calls.

• The 1.5% Annual Maintenance Rule: Budget 1.5% of the home's value annually. For a $1,000,000 home, that's $15,000 per year, or $1,250 per month, set aside for repairs and replacements.

• High-Cost Replacements:

  • Roofs & Furnaces: A new roof in BC can cost $15,000 to $30,000. A high-efficiency furnace or heat pump replacement can be $5,000 to over $15,000.

  • Appliance Failures: In a hot market, you may inherit older appliances that fail in the first year.

• Local Maintenance Considerations:

  • Gutter Cleaning: Essential due to the heavy rain and dense tree cover in areas like Port Moody's Heritage Mountain and parts of North Burnaby. Expect to pay $150-$300 per cleaning twice a year.

  • Drain Tile Inspection: Older homes in the region are prone to clogged perimeter drain tiles. This can lead to basement flooding and costly repairs if not maintained or replaced.

🔑 Conclusion: Affordability in the Tri-Cities

Buying a home in Burnaby, Coquitlam, or Port Moody means entering a competitive market. Ensure you have a six-month emergency cash buffer in addition to your closing cost funds. Knowing the true cost, beyond P.I.T.I., is the key to enjoying your home without financial stress.