The housing market in Vancouver and throughout the whole province of British Columbia has been on fire in the past few months, with the British Columbia Real Estate Association reporting a 37.6 per cent increase in sales, or over 9,101 houses sold last March, compared to the same period last year. With this booming prospect on the housing market, now is the perfect time to invest on beautiful East Vancouver houses for sale with the help of these simple tips.
Are you Ready?
Buying a house is a huge investment that always begins with the question, “Are you ready?” You must enter into this investment emotionally and financially ready, lest you might end up spending more than you have prepared for. Determining whether you’re financially ready to invest in a house can be easy enough, as long as you have at least five percent of the purchase price of a home to be paid for its down payment. More importantly, though, you must determine your emotional preparedness by thinking of how you plan on using your home and whether you are buying it alone or with the help of your spouse or partner.
Where to Start?
One of the first things you have to do as a homebuyer is to look for houses that you can afford and know how you plan on paying for it. You might even have to place a mortgage loan, like most homebuyers, to help you in purchasing your home. Understanding each terms and conditions of your mortgage is necessary, from the amortization period to the payment schedule, for a smoother transaction.
It’s also important to get your mortgage pre-approved before actually buying a home. This means that your mortgage broker must have reviewed all your basic financial information, like income, current debts, credit score, and the like, and had already determined the amount they are willing to lend you.
Looking for a Home
Here comes perhaps one of the most difficult parts in the whole process. This step might seem daunting at first, given the numerous available homes in the market, but you can narrow down your choices by determining what you need. Ask yourself your requirements when it comes to space, location, and layout, then you can choose the one that best suits your needs.
Buying your first home and choosing among homey East Vancouver houses can be an easier process with the help of real estate experts, like those from Real East Van.
Tips and tricks to help first-time home buyers, The Vancouver Sun
First Time Home Buyers Guide, BC Homes