Homeownership can be very exciting and a crucial step in your personal finance. Before purchasing a home in Canada, there are many concerns, and risks buyers need to understand and assess. This assignment aims for students to exercise their knowledge and make financial decisions according to buyers circumstances. In this report, students must identify purchasing criteria to assess potential choices such as property type, neighborhood, safety, school, amenity, and travel distance to work. It isnt always easy to find a property to suit all needs. Before deciding to finalize a property, buyers must also consider the costs and affordability carefully. More importantly, buyers need to understand the fair value of the property. During the negotiation, buyers need to consider psychological factors, such as who the seller is, how many comparable listings are in the same neighborhood, and how long it has been listed. More importantly, buyers need to understand the fair market value range. Coming up with a reasonable offer is crucial to the buyers. Students cannot rely on BC assessment value but on a comparable market valuation approach to determine the fair market value.