Investing in real estate in Vancouver is an exciting endeavor, and for those who have been around the real estate buying block before, you may be tempted to start looking at the MLS listings to find out the current availability of homes in the area you wish to live. But before jumping into such exploration, and spending copious amounts of time clicking on home after home …there are some valuable tips real estate buys should know.
Know Your Worth
You are invaluable to your friends, family, and even likely your employer, but your bank is a different beast entirely as it is their paramount objective to look out for their own best interests and lend accordingly.
Don’t set your sites on a Vancouver condo you can’t afford, as this will negatively affect your entire home buying experience, and set you back before you truly even start.
Instead, find out your mortgage availability range and then locate the services of a professional real estate agent who can assist you in understanding neighbourhoods, uncover amenities, and help you wade through your wish list without having to wiggle too much within your non-negotiable must-haves.
Find the Right Seller
A knowledgeable real estate agent will know which seller might be right for you. Some sellers have a lot more leeway in their list pricing, as perhaps they are looking for a quick sell or need to move back overseas. These are things you cannot uncover alone, but it could mean the difference between you securing a home, and having to pass up a purchase.
Secure the Right Real Estate Agent
Check out my “Top 3 Mistakes Home Sellers Make in Vancouver” post , and use these mistakes to your advantage. This is just one example of how listing prices may be massaged due to a stale home on the market, which you would not have originally had the foresight to see without the right real estate agent who knows the market, the seller, and the circumstances.
In addition, hiring a realtor who knows the area, will also give you the opportunity to be presented with Vancouver condos and locations you may not have previously considered without exposure to the hidden gems they represent.
Keeping these tips in mind can help you keep your objectives clear, and your emotional highs and lows of real estate buying pitfalls to a minimum – if not relinquish them entirely.
I look forward to meeting your real estate needs and exceeding your expectations!