Buying a home in Vancouver is not an easy task. With so much competition, it can be difficult to find the perfect house for you and your family. There are many things that buyers need to know before they decide on their next purchase. This article will provide some tips from a realtor who has been working with clients for over 33 years - he knows what people need to know when looking for homes in this market!
Here are 5 tips for buying a home in Vancouver:
1) The Vancouver real estate market is hot, so buyers better be ready! With the market in full swing, buyers need to know that they will be competing with other people who are also looking for their dream home. As a result, it's important to pre-qualify for financing before you start visiting homes on the market - this way you can make an offer once you find your perfect place!
2) What kind of home should you buy for your needs and budget?
There's not many listings to choose from. If you're looking for less than $500,000 in Vancouver's residential market, then townhouses and condos outside of Vancouver will be most popular. These properties are great if you need to live close to amenities like schools or shops; however they can be pricey because of density policies that encourage building up (versus out). Factor in any renovation plus furniture as well.
3) Find a Vancouver realtor that's right for you.
You want to feel very comfortable with your realtor. Make sure they're willing to work together, and that you can easily get in touch! Some real estate agents will give out their phone number whereas others are more guarded about this information because of the high demand for their service. It's important that your agent is accessible when you need them!
4) The importance of being pre-approved before starting the search process.
Pre-approval is a step you want to take before starting your home search. It's also something that needs to be updated as time goes on during the buying process, but it essentially shows how much money you have available for purchasing a property. You can do this through numerous banks and lenders in Vancouver! A pre-approved buyer is ready to go.
5) Get the best mortgage rate possible:
It's important to get the best mortgage rate possible when buying a home. Knowing your budget and getting pre-approved will help in this process! You can compare rates here with multiple vendors. We suggest brokers as they have availability to multiple lenders.
Buying a home in Vancouver can be an exciting and daunting experience. With so many things to consider, it’s important that you have the right information before signing on the dotted line. We hope these 5 tips will help make your process of buying a new home easier and more enjoyable! If you want further assistance with this or any other real estate question, contact Paul Eviston at (604) 313-0035 for personalized service from one of our top Vancouver realtors.