What First Time Buyers Should Know When Buying New Apartments in Panorama Ridge Surrey (2026)

For a first time home buyer, there are new and exciting choices to make like the location and size of your first home. There are, of course, other builders who can be trusted or not trusted to build your home. These are considerations that can impact you for years to come. Making an educated decision will give you a sense of peace of mind.

Surrey's Panorama Ridge offers a residential area that is close to shopping, schools and parks, and main roads, and offers many townhouse and apartment projects. It's a good area to give up the cities and offer an easier commute to downtown.

2026 will bring opportunities for first time buyers to find a place that fits their needs and doesn't put them in a financial strain. They will have to consider how the development is tied to the places they visit the most like their workplace, grocery and big box retail stores, schools and public transportation. Consider your daily commute when considering different areas.

There are factors in everyday life that affect the decision of where to live. Think about the commute to work, which stores you shop at, which cafes you go to, etc. All of these will improve quality of life after you move in.

Work Out Your Budget Prior To Visiting Sales Centers

Looking at purchase prices draws the most attention when researching new apartments, but the real cost of ownership is what you need to consider.

Some costs to consider are:

A down payment
Interest and mortgage payments
Transfer taxes (if applicable)
Legal and notary fees
Home insurance
Property taxes
Strata fees
Utilities and internet
Moving and furnishing costs
Unexpected costs

B.C. has property transfer tax exemptions for certain qualifying first-time buyers and other purchasers. Eligibility is determined by the rules that apply to the buyer and the property. Review the rules and determine your closing costs.

Getting mortgage pre-approval is a good way to determine the maximum price you should pay, though you don't necessarily need to spend this amount.

Consider Your Plans

Being first time buyers, many people tend to think about what they want and need in the moment. A one-bedroom apartment may work for a single person, or a couple, but a two-bedroom may work for a couple with a child, or for a home office. A three-bedroom may work for a family.

The right layout depends on your long term plans. Consider how natural light impacts each room. Look at how the available kitchen and storage space impacts how you furnish and use each room.

Just because a floor plan looks good on paper, doesn't mean it'll translate well to the physical space.

If you have the chance to see the building's actual plans and measurements, do so before making your final decision.

Understand What You're Buying in A New Development

With a new development, the prospect of new finishes and layouts is enticing, but what's included in the purchase price?

In some cases, not all of the units in a development have the same finishes, and the same may be true of the appliances, as well as storage and parking.

If you're thinking about buying a unit in a development that is still under-construction or presale, look over the disclosure and purchase agreements and consider the scheduled deposit changes, what you're allowed to change, when you're expected to take occupancy, and when the development is expected to be completed. It's always a good idea to have legal documents reviewed by a lawyer.

Understand the Strata Council

Prior to making a purchase, look into anticipated monthly fees, what the strata council is responsible for, and what rules there are.

Understand the Developer

It's worth considering what type of housing a developer focuses on, and what the developer is behind the housing.

A development worth considering is Amson Bloc. It's developed by the Amson Group.

The Amson Group first started in housing with the construction of single-family homes in 1991. They went on to build over 100.

In 2016, the Group shifted to multi-family development and built over 200 units. Currently, the Group is developing over 400 additional units in the Lower Mainland.

The Amson Group Construction is the general contractor for the Group's developments. The company builds only for the Group and does not build for others.

This information is provided so that perspective buyers may draw their own conclusions regarding the Group's focus and experience as a developer.

Is Amson Bloc Worth Exploring?

Amson Bloc is a multi-family development in phases. The first phase of residential development has been completed. The second phase, expected to be completed in 2027, will also include commercial development on the ground floor.

For first time buyers, the unit and price remain key considerations. Other expenses related to ownership, expected monthly costs and purchase terms will also impact the buying decision. The location must serve the buyer's needs.

The commercial space in Amson Bloc may provide services that are of benefit to the residents, however, this does not guarantee the retail space will be leased.

There Are Many Costs After You Move In

Keep in mind, the land your apartment is built on is not owned by you. The strata fees you pay are for the maintenance and improvements of common elements. After you have moved in, you will need to have a budget for normal expenses and make your mortgage payment. Continue to have an emergency fund.

Consider which of the costs you will cover and which will be shared when you buy a strata property.

Also, consider how long this apartment will meet your needs. Make sure you aren't purchasing based on expectations of what you think this apartment will be worth in the future.

A property that meets your needs and is within your budget is a better basis for purchase than one that you expect will increase in value.

First Time Buyer Checklist

Have your mortgage pre-approval and budget ready-
Consider how much you will need for a down payment and closing costs-
Evaluate the prices and plans of the available units-
Assess the commute times to and from the location-
Research how long the developer has been in business-
Carefully read purchase documents and disclosures-
Ask about storage and parking, strata fees, and the availability of a storage locker-
Learn when the development is expected to be completed and when you will be able to move in-
Hire a lawyer to represent you, if needed-
Determine if you will be able to afford this property in the future-

Conclusion

We have provided information that will help you select the right property for your first purchase. You must research and compare locations, and be sure to read the contracts that you are required to sign. Don't sign anything you do not understand.

Newer developments, like Amson Bloc, allow buyers to consider newer multi family housing options in established parts of Surrey.

Take your time and consider the available homes. Ask questions about the prices and the terms of the purchases.

Contact the Amson Group for more details about Amson Bloc and the options available.

Frequently Asked Questions

1. Is Panorama Ridge a good place to buy your first apartment in 2026?

Generally, the further away from a neighborhood the better. However, it is important to analyze based on your individual preference for price and location.

2. What costs do first time apartment buyers have to budget for?

The costs associated with buying your first apartment include a down payment, the first month's mortgage payment, legal fees, property transfer tax, homeowner's insurance, property taxes, strata fees, utilities, moving costs, and a potential rental clean up.

3. Should I buy a presale apartment or a completed home?

Presales allow home buyers to purchase a property before construction is completed. You need to evaluate the legality of the sale yourself, and review the property before purchase. Presales give buyers an opportunity to purchase a home at a lower price, but you need to understand what is being purchased and the terms, conditions, and risks of both sides of the sale.

4. Who is developing Amson Bloc?

Amson Group is the developer of Amson Bloc. Amson Group Construction is the general contractor for all projects developed by Amson Group. Amson Group Construction does not construct for third parties.

5. What should I look at prior to signing the purchase contract for an apartment?

You have to determine if the price is correct. You also need to evaluate additional costs, features, completion dates, conditions, strata information, and parking. A review by a qualified real estate lawyer is recommended.