Three Mistakes Vancouver First Time Home Buyers Make

A recent TD Canada Trust poll found first time home buyers regretful of mistakes they made when buying their first home. They listed the top three  mistakes as *be more thorough when budgeting and accounting for all the costs of home ownership *make a bigger down payment *buy a home sooner. Are you surprised by these findings?

Vancouver First Time Home Buyers Checklist

Personally, I’ve always thought that buying a Vancouver  home is a better long term (25 years or more) decision. Forget the flipping, speculating and consignment of pre-sale contracts. This is gambling. Think of a home as a place to live and build equity over the long run. Make a checklist

  1. organize your finances by making a household budget, calculate your downpayment
  2. find out about closing costs which will be another 2-3% for legal fees, taxes, building inspection, high ratio mortgage insurance, moving costs
  3. calculate your monthly costs which’ll include  home insurance, maintenance fees, >
  4. hire a real estate lawyer who will review your contract, check the title, transfer the title and review the closing process
  5. find a certified building inspector and find out what the inspection costs and what is covered in their report
  6. hire an experienced realtor with at least ten years in the business, be sure they are a neighbourhood specialist and a Vancouver condo realtor

Home Sweet Home Vancouver

It’s now a good buyers market with an excellent selection. You can take your time , plan properly and prepare. Then you will be equipped to make the right decision. Check out my Buyers guide and the process, at top of homepage.

P.S. I am your Vancouver real estate condo realtor! Decades of experience and hyper-local info! Locally known and internationally marketed!

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