So, you’re buying a place–you have been saving your money for a long time and exploring your options. You have come to the very exciting (and scary) decision to purchase your first home in the Fraser Valley!
What should you do first and how to do you find that perfect home?
The most important things to do are your research and to make a house purchase plan! Better yet, make an appointment with your Realtor and do a Buyer interview. You will learn so much about how to purchase a home. Find out about: buying strata, foreclosures and the most effective way to search for a new home.
Interview Realtors Before Picking One
It very important to pick an agent you can trust and that will answer all your questions. You can interview Realtors and bring your list of questions.
The Hansen team provides a first time buyer interview. We can answer all your questions and provide estimated time lines and budget. Other services include area information and plenty of advice on contracts and the overall process.
One of the mistakes first time buyers often make is to neglect to get pre-approval from a lender before beginning their search for a home. Having said that, a pre-approved mortgage is not the same as pre-qualification. Pre-qualification with a lender comes first. This will let you know precisely what price range you’re able to qualify for when buying a house. After you’ve been pre-approved, you and your realtor will be able to confidently negotiate with the seller for the purchase of a house.
A Good Realtor is Invaluable
People often make the mistake of thinking they can save the cost of a realtor and just do it themselves. But a good realtor is invaluable. I recently listed a home that was 400 sq ft smaller than they thought. They purchased from a private seller who misled them. Another incident was a group of strata council members who had hidden a potential assessment of their Condo. They all sold their condos within a few years. 5 years later there was a whopping $60,000 per unit assessment!! My inspector called and I saved my client from that purchase. My client avoided a whole lot of heartache and health hazards from the leaky condo. Bad well water to sink holes, I have seen it all. There can be so much misrepresentation in the industry. Having an agent on your side is invaluable. Not only do we help in your search for the right home in the right neighborhood, we can also help you to avoid serious and costly mistakes.
Your realtor will be able to supply you with a Comparative Market Analysis of the home or strata development. You are then able to gauge the market pricing. You can prevent over-paying and be assured you are paying fair market value for your new home.
Always look at the Potential of the Home
Keep in mind when looking for a home, that it is of great importance to look at the potential of the property. Your first impression may be based on your taste in decor or be emotionally triggered by the sellers life style. It is important to be objective. Often a property can appear perfect in presentation when first viewed, but lacking in practical application to your families future plans. Other properties may look messy and unkempt, rundown and neglected. But, have the potential to be the ideal home when spruced up and given proper maintenance or upgrading.
An experienced, competent realtor will be able to recommend a reputable home inspector to be sure there is no serious structural defect or costly problems that may arise in the future. Having an inspection performed on a prospective home can greatly assist you in the negotiation process and allow your realtor to include the necessary clauses to the purchase contract. This step in the process can save you a tremendous amount of money, stress and frustration later.
As a qualified buyers agent, the realtor understands your rights and obligations thoroughly and will walk you through the process of negotiating the purchase of your home.
Unfortunately, any mistake made when spending such a large amount of money when buying a home in this market, can be disastrous! Having sold real estate for over 38 years, many of my clients have been very successful working with me. They have repeatedly called on me for buying and selling their homes. Most of my business is repeat or referral business. When looking for a great agent, ask around , tell your friends you are looking for a trustworthy and reliable agent.
For an appointment Phone Joan 604-220-7653 to reserve your Buyer interview and house hunting meeting. You will receive a budget, cost analysis and checklists to get started. You can benefit from my experience.
Over the years I have collected a list of the top investment strategies and assisted many people in becoming very wealthy in Real Estate. It takes time and making the right decision at the right time.