Are you worried that as a first time home buyer in Vancouver you aren’t seeing all the homes on the market or that an oversight during the buying process will result in buying a home with costly hidden defects or surprises?
Buying a home in Vancouver or any other city is the largest investment most people will ever make. In addition to being your largest financial investment, it’s also the place you’ll come home to each day, invite your friends and family to rites of passages and celebrations, and will be the place where you spend a huge chunk of your precious free time. We have more than a decade in experience in helping people find the right home in Vancouver that fits their needs, budget, and lifestyle. To help our clients find the best properties in the city we use the latest technology and market information but most importantly listen to our clients’ needs so we can show you the right properties and guide you through the correct buying steps.
The challenge of buying a home for the first time can seem so daunting that it's tempting to either just go with the first house that falls in your price range or continue to rent. To help you demystify the process and get the most out of the purchase, we'll examine what you'll need to consider before you buy, what you can expect from the buying process itself, and some handy tips to make life easier after you purchase your first home.
Considerations Before You Buy in Metro Vancouver
The first thing you'll need to determine is what your long-term goals are and then how home ownership fits in with those plans. It could be that you're simply looking to transform all those "wasted" rent payments into mortgage payments that actually give you something tangible. Others see home ownership as a sign of their independence and enjoy the idea of being their own landlord. Narrowing down your big-picture homeownership goals will point you in the right direction. Here are five questions to ask yourself:
The Buying Process
Now that you've decided to take the plunge, let's explore what you can expect from the home buying process itself. This is a chaotic time with offers and counter-offers flying furiously, but if you are prepared for the hassle (and the paperwork), you can get through the process with your sanity more-or-less intact. Here is the basic progression you can expect:
Things you'll be dealing with and paying for in the final stages of your purchase may include having the home appraised (mortgage companies require this to protect their interest in the house), doing a title search to make sure that no one other than the seller has a claim to the property, obtaining private mortgage insurance and completing mortgage paperwork.
Congratulations New Homeowner ... Now What?
You've signed the papers, paid the movers and the new place is starting to feel like home. Game over right? Not quite. Let's now examine some final tips to make life as a new homeowner more fun and secure.
This brief overview should help put you on the path towards filling in any gaps in your home-buying knowledge. Remember that the more you educate yourself about the process beforehand, the less stressful it will be, and the more likely you will be to get the house you want for a price you can afford - and with a smile on your face. I have had the honor of helping many first time buyers succesfuly , let us help you do it right from the begining!
Our job is to help you as a first time home buyer make sense of the Vancouver real estate market and purchase process.
A typical home or condo purchase in Vancouver either Westside or Eastside or any other surrounding cities involves numerous people and resources –property title searches, mortgage brokers, home inspectors, specialty inspectors ( such as Oil tanks or Condo specialty inspectors), appraisers, property management companies, and asset managers to name just a few who might be involved during a home purchase. Thinking of buying a Foreclosure or Estate property or New Construction? the list can get even longer! Our job is to make the entire process as stress-free as possible, so that you can focus on making sure your particular needs and concerns are addressed instead of spending all day chasing down people or paperwork, that’s our job! You just enjoy looking at homes.
While every situation and person is unique, we find that the average first time home buyer in Vancouver has an incredible number of questions about the buying process. So that you can begin to put your mind at ease, we’ve taken the time to publish our insights, experiences, and advice on the home buying process in Vancouver in a PDF file that you can reference at any time of day or night.
Curious on how to assemble a winning real estate team in Vancouver?
Our guide starts at the beginning and explains who you’ll need on your side to make sure that you not only find the home of your dreams, but have a team of people that will make sure your purchase closes. Believe it or not, more than 25% - 30% of offers to purchase fail to go anywhere– and the number is even higher when dealing with inexperienced people, it’s crucial to work with the right individuals so you can get the best interest rates, see the best homes on the market and have the right person to put it all together.
Need help understanding what typical a typical Vancouver Property disclosures mean?
Vancouver properties usually come with a disclosure package that you’re expected to review and understand – first time buyer or not – before making an offer. It is important that you understand this document.
Want to write a compelling offer without throwing money away?
We’ve had offers accepted that weren’t the highest offering price, and we help you learn how to write an offer that is compelling to a seller. IT’s NOT all about MONEY there are plenty of small things you can offer to a seller that make your offer more attractive, some of which might not be so obvious if you are a first time home buyer or lack the experience or writing offers on a weekly bases.
Confused by Vancouver inspections, appraisals, mortgage brokers and banks?
Our first time home buyer guide will help you understand all of the different timeframes and people involved in a home purchase here in Vancouver. From understanding what inspections it usually makes sense to start with to discussing all of the possible inspections available, we’ll help you understand how to go about wisely understanding the condition of a home.
Overwhelmed by Vancouver Real estate lingo?
Let’s face it, real estate has a lingo all its own. We break it all down for you in easy to understand terms that will make sense to you as a first time buyer. Buying a home should be an enjoyable process, not a second full-time job.
We can help you find the right place! But Hey Don’t take our word for it, here are some recent testimonials.