Introduction
Buying your first home is a major life milestone, one that reflects stability, independence, and long-term planning. For many Métis individuals and families across British Columbia, home ownership is more than an investment. It’s about having a safe place to raise children, build roots, and express identity. It’s about creating intergenerational stability in a world where that hasn’t always been accessible.
At The Métis Financial Corporation (MFC), we recognize the unique challenges Métis homebuyers face. This guide will walk you through the essentials of buying your first home as a Métis person in BC, from financial preparation to navigating available programs and making confident, informed decisions.
Step 1: Know Your Budget and Start Planning
Before you begin searching for a home, it’s important to understand what you can comfortably afford.
Take stock of:
- Your total monthly income
- Your regular expenses (housing, transportation, food, childcare, etc.)
- How much you can reasonably put toward a mortgage without strain
It is also important to consider other costs associated with home ownership. These costs include: - Property tax: This is an annual tax and is assessed based on the value of your property and the property tax rate established in your municipality.
- Strata fees: Some properties, such as condos, apartments, townhouses, and certain detached homes may charge monthly fees for property upkeep, utilities, and various other costs. If your home is a part of a strata corporation, you can talk to your realtor, the seller, or consult the strata documents to fully understand the costs and bylaws set by the property’s strata corporation
- Homeowners Insurance
- Maintenance and repairs: It is recommended that you budget approximately 1-4% of your home’s value annually for maintenance and repairs. This proactive approach ensures your home remains in excellent condition and helps you avoid unexpected expenses.
You’ll also want to consider your down payment, the portion of the home’s purchase price that you pay upfront. For most first-time buyers in Canada, this is between 5% and 20%.
In addition to the down payment, you may be required to pay a deposit once your offer to purchase a home is accepted. The price of the deposit will vary depending on the amount determined between the buyer and the seller. Once the purchase is final, the deposit can go towards your down payment on your closing day.
If numbers aren’t your strength, don’t worry. Our team can help you find support to understand your budget and feel confident moving forward.
Step 2: Understand and Build Your Credit
Your credit score plays a big role in your ability to qualify for a mortgage. Lenders use it to assess your financial habits, and it affects both whether you’re approved and the interest rate you’ll receive.
Don’t let a low score or thin credit history discourage you. Many first-time Métis buyers are starting from scratch or working to rebuild.
Step 3: Get Pre-Approved for a Mortgage
Getting pre-approved means a lender has reviewed your finances and offered a conditional commitment to loan you a certain amount. This step shows sellers you’re serious, and it gives you a clear price range to work within.
We can help you find a mortgage partner that won’t ask you to compromise your values or comfort to get approved.
Step 4: Access Programs Built for First Time Home Buyers
There are several funding and support options that can help reduce your out-of-pocket expenses. These resources are designed specifically to reduce barriers to entry and open doors for home ownership.
MFC First-Time Home Buyers Program
The home buyer support program offers:
- Direct financial assistance (down payment and closing cost support)
- Personalized application support
- Culturally informed guidance for navigating the mortgage process
We work with you to create a path toward home ownership that respects your identity and circumstances. Whether you need help understanding your mortgage options or want a second set of eyes on a housing contract, we’re here.
To learn more, visit the First-Time Homebuyers website or contact us directly.
Additional Programs Worth Exploring
- CMHC First-Time Home Buyer Incentive: Offers shared equity support with reduced monthly payments.
- BC Property Transfer Tax Exemption: If you qualify, you can reduce or avoid this cost entirely.
- Indigenous-Specific Lenders: Some lenders specialize in working with Indigenous clients, offering more flexible terms or culturally relevant services.
- Government of British Columbia Home Owner Grant: Reduces the amount of property taxes you pay each year on your principal residence.
MFC staff can help you assess which of these programs you qualify for and walk you through the application steps.
Step 5: Begin Your Home Search
With pre-approval and program information in hand, you’re ready to begin the search for your first home.
Tips to guide your search:
- Start with your priorities: Think about what’s most important to you, location, number of rooms, proximity to family or community, etc.
- Work with a real estate agent who understands your needs: This can make the process more comfortable and efficient.
- Stay open-minded: The “perfect” home might be the one you didn’t expect, and that’s okay.
Many Métis first-time buyers start small and use their first home to build equity and credit, creating stepping stones toward future moves.
Step 6: Prepare for Closing Costs
Even with financial assistance, there are final costs involved in purchasing a home. These might include:
- Legal fees
- Appraisal or inspection costs
- Property insurance
- Utility hook-up fees
- Moving expenses
Budgeting for these early helps reduce stress later. We recommend setting aside 1.5% to 4% of the purchase price to cover closing costs.
MFC can help you create a simple, clear checklist of what to expect, so there are no surprises when it’s time to finalize your purchase.
Step 7: Move In – and Make It Your Own
Once the paperwork is signed and the keys are in your hand, take time to appreciate the moment. Whether it’s your first night in the new space or the first family meal in your own kitchen, these milestones matter.
Many Métis families use their homes to build culture and community. Your home should reflect your story, and support the future you’re building.
The Long-Term Impact of Métis Home Ownership
When a Métis individual buys a home, it doesn’t just change their life, it strengthens the entire community. It creates:
- Financial stability and long-term equity
- A base for future education, business, or family planning
- Opportunities for youth to see what’s possible
- Cultural preservation through rooted, safe environments
That’s why MFC sees homeownership as a form of empowerment. It allows people to grow not only financially, but emotionally, spiritually, and communally.
Our Commitment to Métis Families
At MFC, our goal is never just to get people through a process. It’s to build lasting relationships based on trust, transparency, and shared values. We understand that buying a home is about more than numbers, it’s about hope, healing, and reclaiming the future.
We’re committed to:
- Providing support that’s free of judgment
- Using language and processes that are easy to understand
- Listening to what you need and adapting our services accordingly
- Walking alongside you at every stage, even after the move-in date
You deserve a home, and a support system, that respects who you are.
Ready to Begin Your Journey?
Whether you’re just beginning to explore home ownership or you’re ready to apply for assistance, we’re here to support you.
Learn more about how MFC supports Métis home buyers across British Columbia on the Métis First-Time Homebuyers website, or contact our team directly to speak with someone about your goals.
You don’t have to figure it out alone. Let’s take the next step together.
