First time buyers have to be ready to jump into the market when the right opportunity presents itself. Not being prepared could cost you greatly.
Here are my top five tips for first-time buyers (and those of you who haven’t done this in a while).
1. Be an educated Buyer. Learn as much as you can about the market area you are looking at before you buy. The lower mainland real estate market is extremely diverse and competitive, you don’t want to be caught napping.
2. Be honest and open with your Realtor. I work for you and can best help you if I have a good understanding of your needs. Once I know your needs, my job is to be your objective guide in the process, and to ensure your needs and interests are met and protected. The more information I have from (and about) you, the better I can do my job and fulfill your needs.
3. Get pre-approved for your mortgage as soon as possible. This helps you determine your budget, and locks in today’s best rate for you. I refer many clients to 2 or 3 mortgage professionals I trust should they need one. You speak to them all and pick the one you think is the best fit for you.
4. GOLDEN RULE - Buy the best home you can afford in the best neighborhood you can afford. You are almost always better off with the least expensive home in the area rather than the most expensive. That said, I strongly recommend that you be conservative with your budget.
5. Remember, there are no perfect homes. Be ready to make some compromises and concessions within the home - think location! If you have a partner talk it out. Know what’s most important to you and ‘give a little’ on those things that aren't, determine 'needs vs wants' within your budget.
All the best,
RE/MAX Colonial Pacific Realty Ltd.
Check out: www.brianwhite.ca
LinkedIn: Brian J White
Direct: - 604-961-4104.