Tips for First Time Home Buyers in Vancouver

If you’re a first time home buyer in Vancouver, BC and need some new home buying tips, then you’ve definitely come to the right place. Buying your own home for the very first time can be a very rewarding, but challenging, experience, especially in the Vancouver real estate market. The entire process can indeed be very overwhelming for first time home buyers and even if you’ve gone through the home-buying process in the past already, making a new purchase can still present a whole new set of challenges.

If you are purchasing your first home, we can inform you about the benefits you may be eligible for in the first time home buyers plan. We can inform you if you are eligible for the first time home buyer tax credit or any other benefits in the first time home buyer program.

Now, the primary first time home buyer tip you’re likely to hear from anyone is to hire the services of a real estate agent and look for a trustworthy mortgage broker. Doing so typically carries several advantages.

  1. One advantage of using a realtor is that you won’t have to go through the home-buying process alone. Remember that a good real estate agent has received the proper training, is equipped with appropriate knowledge, and has enough experience to be able to provide you with sound first time home buyer tips as you go through every step in the process. This can make it so much easier for you to find, purchase, and move into a new home.
  2. Another advantage of hiring the services of a real estate agent is that he can be the most valuable source of important information that any first time home buyer in Vancouver would need. A realtor can provide tips regarding legalities, market trends, the best mortgage broker in Vancouver, and homes for sale in your chosen areas. Take note that not all home sellers run ads in local papers or put up “For Sale” signs in their front yard. You may happen to drive past the ideal property without knowing that it’s up for sale, but a good realtor will probably know about it.
  3. Another benefit of consulting a real estate agent is that it involves minimal cost on your part. That’s because realtors are often paid commissions by the home sellers themselves.

Now, your next question may be where you should begin the home-buying process. First, you should ask yourself exactly what you’re searching for in a property. You may set your preferences according to the following categories:

  1. Location
    What are your reasons for relocating? Will your choice of location for your new home be affected by the location of shops, schools, and means of transport? This ranks among the most important first time home buyer considerations because it is often taken for granted.
  2. Type of Housing
    Exactly how large does your new house have to be? Will you be living with a pet? If you’re looking for a condominium, will you go for low-rise or high-rise?
  3. Budget
    What monthly payment are you most comfortable with? Also, be sure you consider other expenses such as monthly condominium fees, village or neighbourhood fees as well as annual property taxes.

These are just some of the things you need to ask yourself and consider as a first time home buyer in Vancouver. You should also start looking for a reliable mortgage broker in Vancouver who can assist you in acquiring your new home. Remember that the more knowledge you acquire about home-buying, the better your choice will be. So learn as many first time home buyer tips from your realtor as possible, and also learn as much as you can about the best mortgage broker in Vancouver who can address your needs.

Call us or apply for a Vancouver mortgage online now!