Buying your first home is an important purchase and finding well-placed East Vancouver real estate can be difficult, especially if it’s your first one and you’re looking for a home that meets your particular needs. This is because of a combination of experience and the rather complicated real estate market of the area; East Vancouver is part of the central Vancouver area and thus a prime spot for many real estate buyers. Here are a few tips on how to ensure your purchase goes through:
Plan Your Budget
The foundation of any home purchase is to have the money to pay for it. Like many home buyers nowadays, you’ll probably need to take out a mortgage loan. These loans use the home you’re buying as security for the loan; you’ll have to calculate how much you can pay a month so that you can avoid a foreclosure.
Some additional things you should take into consideration are your current savings and how much you earn each month. Furthermore, you’ll still need to make a down payment before the bank releases the mortgage to you. Shop around for a mortgage with which you can afford to pay the initial payment and the monthly fees, as well as the extra dues like property tax and processing fees.
Have a Solid Criteria
With the money ready, you’ll need to look around for the property that you want to buy. Just looking at houses with no idea what you want is a recipe for disaster, though; you could be easily influenced by impulse decisions that would lead to regret later. This is why you’ll need a clear list of what you want in your home before buying. Divide these features into “essential,” “important” and “desirable.” You’ll want the house you choose to have all of the “essential” features and most of the “important” ones. “Desirable” features would be good but you can live without them. In this way, you can make a good decision on your purchase.
Get Professional Help
Both financing and looking for a new home can get complicated, and this why you’ll want professional help. Realtors can guide you on proper financing procedures to ensure that you have the requisite money for purchase. They can also help in price negotiations. Furthermore, finding available East Vancouver homes for sale with help from real estate firms like Real East Van is easier. Just give them your requirements and you don’t have to trot all over East Vancouver just to look for the perfect home.
Tips and tricks to help first-time home buyers, Vancouver Sun
Five Reasons Why You Still Need A Real Estate Agent, Forbes