Richmond Real Estate Blog

It's the question I hear in almost every first meeting: "Do we sell our place first, or find the new one first?" There's no single right answer. The best order depends on your finances, how busy the market is, and how much uncertainty your family can live with. Here's how I help families decide.

Option 1: Sell first, then buy

How it works: you list your current home, accept an offer, and only then shop seriously for the next one.

Why families choose it:

• You know exactly how much money you have, so you can make firm, confident offers.

• Sellers like offers without a "subject to sale" condition, which can help you win the home you want.

• No risk of carrying two mortgages.

The risk: you might not find the right home before your sale closes. Then you're renting short-term, staying with family, or rushing into a purchase.

How I reduce that risk: I usually negotiate a longer closing date on your sale, often 60 to 90 days (in some cases 120 days), and we start looking at homes while your place is on the market so you're ready to move fast.

Option 2: Buy first, then sell

How it works: you find and buy the new home, then list your current one.

Why families choose it:

• You don't lose the right home while waiting to sell.

• You move once, on your own schedule.

The risk: if your current home takes longer to sell, or sells for less than you hoped, you could carry two mortgages and two sets of bills. That pressure can push you to accept a low offer.

When it makes sense: when your current home is in high demand (a well-priced condo or townhouse in a popular area, for example), or when you have enough equity or savings to handle a gap. Some families also use bridge financing to cover the down payment until the sale closes.

Option 3: Buy subject to the sale of your home

You make your offer conditional on selling your current home within a set time.

The upside: you're protected if your home doesn't sell.
The downside: many sellers won't accept this condition, especially in a busy market, and those who do may ask for a higher price. It works best in a slower market or for homes that have been listed for a while.

Option 4: Line up both closing dates

This is what I aim for with most families: sell and buy with closing dates on the same day or a few days apart. It takes planning and good communication between both lawyers or notaries, but it means you move once and never carry two mortgages for long.

How to choose

Ask yourself three questions:

1. How fast do homes like mine sell right now? If they sell quickly, buying first is less risky.

2. Could we carry two mortgages for a few months? If not, sell first or line up the dates.

3. How specific is what we're looking for? If you need a certain school catchment or a rare layout, you may want to buy first so you don't miss it.

A word on BC's home buyer protection period

In BC, buyers of most residential properties have a three-business-day protection period after an accepted offer, with a fee if they walk away. It's useful to understand, but it isn't a substitute for proper subjects or a plan for your sale.

Your next step

Every family's situation is different. My free Richmond upsizing plan shows what your home is worth today, what it can buy, and which timing option I'd recommend for you. Prefer to talk it through? Call or text me at (778) 909-8639.

Get my free Richmond upsizing plan

Katerina Zemlia, REALTOR® with RE/MAX Westcoast. General information only, not legal, tax or mortgage advice.

You've found the right home. Your current home is sold. But the new place closes before your sale does, and your down payment is tied up in the home you haven't handed over yet. That gap is exactly what bridge financing is for.

What bridge financing is

A bridge loan is a short-term loan that covers your down payment (and sometimes closing costs) for the time between your purchase closing and your sale closing. When your sale closes, the money from it pays off the bridge loan.

It's usually arranged through the same lender that's giving you the mortgage on your new home.

When lenders usually offer it

Every lender has its own rules, so always confirm with yours, but these are common conditions:

• Your current home must be sold firm. Most lenders want an accepted offer with all subjects removed before they approve a bridge loan.

• The gap is short. Bridge loans are meant for weeks, typically up to 90 days.

• The numbers work. The lender will check that the equity from your sale covers the bridge amount.

If your home isn't sold yet, a bridge loan is usually not available. In that case, the options are different: a home equity line of credit, a "subject to sale" offer, or timing the closings differently.

What it costs

Bridge financing is convenient, not free. Expect:

• Interest for the days the loan is open, usually at a rate above the prime rate.

• An administration or setup fee from the lender.

• Possible extra legal fees, because your lawyer or notary handles one more piece of paperwork.

For a short bridge of a few weeks, the total cost is often small compared to moving twice or renting in between. I always ask families to get the exact numbers from their lender before we write offers. The rate is about 8%-9%.

A simple example

Say your townhouse purchase closes on March 1 and your condo sale closes on March 20. You need your down payment on March 1, but the money from your condo arrives on March 20.

A bridge loan covers the down payment for those 19 days. On March 20, your condo sale closes, and the proceeds pay off the bridge loan. You move once, on the day that suits you.

When bridge financing is a good fit

• You found the right home and don't want to lose it.

• Your current home is already sold firm.

• The gap between the two closings is short.

• You'd rather pay a little interest than move twice.

When to think twice

• Your current home isn't sold yet.

• The gap is long, so the interest adds up.

• Your sale has conditions that could still fall through.

Questions to ask your lender

1. Do you offer bridge financing, and what are your conditions?

2. What's the interest rate and the setup fee?

3. What's the longest gap you'll cover?

4. What documents do you need from me, and when?

Your next step

Timing a sale and a purchase is the part of upsizing I spend the most time planning. My free Richmond upsizing plan includes the timeline I'd recommend for your move, and I'm happy to connect you with mortgage professionals I trust. Call or text me at (778) 909-8639.

Get my free Richmond upsizing plan

Katerina Zemlia, REALTOR® with RE/MAX Westcoast. General information only, not mortgage or financial advice. Confirm terms with your lender.

When families plan an upsize, they usually focus on two numbers: what their home will sell for and what the new one costs. But there are many smaller costs in between, and together they add up. Here's the full list I walk families through.

Costs when you sell

• Real estate commission. Set out in your listing agreement.

• Legal or notary fees for the sale.

• Mortgage discharge or penalty. If you break your mortgage early, your lender may charge a penalty. Ask whether you can port your mortgage to the new home instead.

• Getting ready to sell: small repairs, painting, cleaning and possibly staging.

• Strata costs if you own a condo or townhouse, such as the cost of documents buyers ask for.

Costs when you buy

• Property Transfer Tax (PTT). In BC it's 1% on the first $200,000, 2% on the portion up to $2 million, and 3% on the portion from $2 million to $3 million (with more above $3 million). As a repeat buyer, you won't qualify for the first-time buyer exemption.

• Legal or notary fees for the purchase, plus title insurance if needed.

• Home inspection (and strata document review for a townhouse).

• Appraisal fee, if your lender requires one.

• Property tax and strata fee adjustments, so you pay your share from the day you take possession.

• Mortgage-related costs, such as an appraisal or setup fee.

• Home insurance from your possession date.

PTT examples

• $900,000 home: $16,000 in PTT

• $1,100,000 home: $20,000 in PTT

• $1,500,000 home: $28,000 in PTT

• $2,000,000 home: $38,000 in PTT

(1% on the first $200,000 plus 2% on the rest up to $2 million.)

Costs of moving

• Movers or a truck, and possibly packing help

• Overlap costs if your closing dates don't line up: short-term rental, storage, or bridge financing interest

• Utility connections and address changes

• Furniture and setup for a bigger home: an extra bedroom, a yard, window coverings

Ongoing costs that change

Moving up usually means higher monthly costs too:

• A bigger mortgage payment

• Higher property tax

• Higher strata fees (for a townhouse) or maintenance costs (for a house)

• Higher utilities in a larger home

How I help families plan

I put all of this into one simple sheet for every client: your expected sale proceeds, every cost on both sides, and the purchase range that leaves you comfortable, not stretched. That's the "Brighter" part of my 3B's method.

Your next step

Get your own numbers with my free Richmond upsizing plan, or see what sellers pay in my guide to seller closing costs in BC. Call or text me at (778) 909-8639.

Get my free Richmond upsizing plan

Katerina Zemlia, REALTOR® with RE/MAX Westcoast. General information only. Confirm current tax rules and fees with your lawyer, notary or accountant.

If your condo felt perfect a few years ago and now feels like a storage unit with a view, you're not alone. Most of the families I work with in Richmond start right here: a one- or two-bedroom condo, a growing family, and the question of whether a townhouse is within reach.

The good news: it often is. The tricky part isn't finding a townhouse. It's selling one home and buying another without paying for two mortgages, moving twice, or rushing into the wrong place. Here's how I walk families through it.

1. Know when it's time

You don't need to wait until you're tripping over toys. These are the signs I hear most often:

• A baby on the way, or a child who needs their own room

• One of you now works from home and the kitchen table is the office

• You're paying for a storage locker or keeping bikes on the balcony

• You want a yard, or at least a patio where kids can play while you cook

If two or more of these sound familiar, it's worth running the numbers now, even if you plan to move next year.

2. Work out your real budget

Your budget isn't just what the bank will approve. It's what you'll have after selling your condo and paying the costs on both sides.

What you bring: the equity in your condo (sale price minus your mortgage balance) plus any savings.

Costs when you sell: real estate commission, legal or notary fees, and any mortgage penalty if you break your current mortgage. Some mortgages can be ported to the new home, which can avoid the penalty, so ask your lender early.

Costs when you buy:

• Property Transfer Tax. In BC it's 1% on the first $200,000, 2% on the portion up to $2 million, and 3% on the portion from $2 million to $3 million. On a $1,100,000 townhouse that's $20,000. As a repeat buyer, you won't get the first-time buyer exemption.

• Legal fees and adjustments, home inspection, and moving costs.

• Higher monthly costs: a larger mortgage, and usually higher strata fees and utilities than your condo.

I build this into one simple sheet for every client, so you know the price range you're comfortable with before we look at a single listing. That's what the Brighter step of my 3B's method is about: a real number, not a maximum.

3. Choose the right townhouse, not just the biggest one

A townhouse is still a strata, so look past the square footage:

• Strata health. Read the depreciation report, the contingency fund balance and the last two years of minutes. Upcoming roof, window or envelope work can mean special levies.

• Layout. Three floors with the bedrooms on top suits young kids. A main-floor bedroom suits visiting grandparents.

• Parking and storage. Side-by-side or tandem garage? Room for a second car?

• Schools. Richmond catchments can split a street. I confirm the catchment for the exact address with the Richmond School District before you write an offer.

Popular areas for Richmond families moving up to a townhouse include Steveston, Terra Nova, City Centre near the Canada Line, and East Cambie. You can browse current Richmond townhomes any time.

4. Time the sale and the purchase

This is where most of the stress comes from, so let's take the options one at a time.

Sell first, then buy. You know exactly how much you have to spend and you can make strong offers. The risk is having to rent or stay with family if you don't find the right home before your closing date. A longer closing on your sale gives you more time to search.

Buy first, then sell. You don't risk being without a home, but you could carry two mortgages if your condo takes longer to sell. Some lenders offer bridge financing: a short-term loan that covers your down payment until your condo sale closes. Lenders usually want a firm sale on your current home first, so this works best when the two closing dates are close together.

Buy subject to the sale of your home. You make your offer conditional on selling your condo. It protects you, but sellers often prefer offers without that condition, so it works better in a slower market.

Line up both closing dates. My goal is usually to have the condo sale and the townhouse purchase close on the same day or within a few days, with a short bridge loan if needed. It takes planning, but it means you move once.

One more thing to know: in BC, buyers of residential property now have a three-business-day protection period after an accepted offer, with a small fee to walk away. It doesn't replace your subjects, but it's useful to understand before you write an offer.

5. Use the 3B's to stay on track

When families feel overwhelmed, I bring it back to three questions:

• Bigger: How much space do you need for the next five to ten years, not just today?

• Better: Which neighbourhood, school and commute fit how you live?

• Brighter: What's the price range you're comfortable with, and what timeline lets you move once?

Answer those three, and most of the decisions make themselves.

Your next step

Every family's numbers are different. If you'd like to see what your condo is worth today, what it can buy, and the timeline I'd recommend, request my free Richmond upsizing plan. It takes about a minute, and I'll send you a plan built on real Richmond sales data. Prefer to talk it through? Call or text me at (778) 909-8639.

Katerina Zemlia, REALTOR® with RE/MAX Westcoast. This article is general information, not legal, tax or mortgage advice.

If your home doesn’t sell in the first 7–14 days, you lose leverage.

In today’s Richmond real estate market, sellers need to be more strategic than ever. If you’re planning to sell your home in Richmond, understanding how buyers think and how listings perform is critical.

The market is leaning toward buyers, which means more competition, more negotiation, and less room for error.

This guide will show you exactly how to position your home to sell faster and for the best possible price.

🏡 If you want a fast sale, focus on these 3 things:

• Strategic pricing (not guesswork)
• Strong first 7–10 days exposure
• Presentation that removes buyer objections

1. Know the market you’re selling in

The data is clear. Inventory is up, sales are down, and buyers have more options.

February 2026 (Richmond)

📊 Source: Greater Vancouver REALTORS®

January 2026 (Richmond)

📊 Source: Greater Vancouver REALTORS®

What this means for you:

• Inventory is rising → more competition
• Sales volume is down → fewer buyers per listing
• Prices have declined year over year across all property types
• Homes are taking longer to sell

Whether you’re browsing Richmond BC homes for sale or preparing to list your own property, it’s clear that buyers are comparing options more carefully than before.

Translation: you don’t get second chances. First impression = everything.

2. Price to win the first 7–10 days

In a buyer-leaning market, overpricing isn’t strategy. It’s a delay.

When selling a house in Richmond, pricing correctly from day one is one of the biggest factors that determines how fast your home will sell.

Your 3 pricing options:

Aggressive (recommended right now)
• 1–3% below market value
• Creates urgency
• Attracts more buyers quickly

Market-aligned
• Priced at fair market value
• Stable activity
• Average time on market

Overpriced
• Low interest
• Longer time on market
• Price reductions later

The first 7–10 days are your strongest window. Miss it, and you’re chasing the market.

3. Remove objections before you hit MLS

Buyers today are cautious.
Every flaw becomes a negotiation point.

What actually helps your home sell faster:

• Declutter and pre-pack
• Deep clean (especially windows and kitchens)
• Fix small repairs
• Fresh paint or touch-ups
• Improve lighting
• Professional staging

💡 Even a small investment can significantly impact your final sale price and time on market.

4. Launch your listing like a campaign

Most homes get listed. Very few are strategically launched.

A strong launch creates momentum.

Your 72-hour launch strategy:

Before listing:
• Professional photos and video
• Floor plans and marketing ready
• Direct outreach to my pool of qualified buyers
• “Coming Soon” announcement to my office network (300+ agents)
• Pre-booking for Realtor tours to generate early interest

Go live:
• Tuesday or Wednesday
• Build interest before weekend

Weekend:
• Open house
• Direct outreach to active buyers

The goal is simple: maximum exposure in the first week.

5. Make it easy for buyers to say yes

The easier your process, the faster your sale.

What helps:

• Clear offer strategy
• Flexible possession dates
• Clean documentation
• Transparent communication

Confidence removes hesitation. Hesitation slows sales.

🔥 Want to know what your home would sell for right now?

If you’re thinking about selling a house in Richmond, having a clear strategy can make a significant difference in both your timeline and final sale price.

I can show you:

• your realistic price range
• how long it would likely take to sell
• what buyers will actually notice
• what improvements are worth doing (and what to skip)

📞 778-743-7403
📧 katerina@zemlia.ca

Why work with me?

• Richmond specialist since 2011
• Deep understanding of buyer behavior
• Strategic approach focused on results, not just listing

Ready to sell without stress and guesswork?

If you’re planning to sell your home in Richmond, let’s create a clear plan that works in today’s market.

📞 778-743-7403
📧 katerina@zemlia.ca