Buyer Preparation Part 5: Final Steps

Buyer Prep Series

Introduction

Insufficient buyer preparation when searching for a property is a recipe for disaster. If you fail to prepare, the process will be long, frustrating, and filled with disappointment. Much of the work I do is with first-time buyers because it gives me great satisfaction to help people achieve their goal of home ownership. Unfortunately, many buyers make the same mistakes which prevent them from achieving their goals. I’ve created this educational series to help my clients improve their chances for success, and to better prepare them to navigate the highly competitive Vancouver real estate market. The real estate industry is evolving, and I will continue adding to this series as necessary.

PART 5 – Final Steps

Over the last four weeks I’ve taken you through the process of buying a home in Vancouver’s competitive real estate market. This week I’ll review the process so far, as well as your final steps as you prepare to receive possession of your new home. The previous sections of the blog series are below.

PART 1 – The Importance of Working with a Realtor is available HERE

PART 2 – Financing Your Home is available HERE

PART 3 – Needs Analysis is available HERE

PART 4 – Preparing the Offer is available HERE

The move to your new home can be a challenge. In my opinion, professional movers are well worth the expense, but beware of hidden fees. If you choose to hire professional movers then do your homework – ask for referrals from friends, read online reviews, and be sure that you read the fine print in your agreement. Disreputable companies will hide extra fees that can end up costing you a lot of money. You also want to hire a company that you can trust with all your possessions.

If you want to keep your moving expenses down then it’s time to start bribing your friends with free beer and pizza! Call in all the favours you’ve saved up by helping others move over the years – the more people helping the better.

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Buyer Preparation Part 4: Preparing the Offer

Buyer Prep Series

Introduction

Insufficient buyer preparation when searching for a property is a recipe for disaster. If you fail to prepare, the process will be long, frustrating, and filled with disappointment. Much of the work I do is with first-time buyers because it gives me great satisfaction to help people achieve their goal of home ownership. Unfortunately, many buyers make the same mistakes which prevent them from achieving their goals. I’ve created this educational series to help my clients improve their chances for success, and to better prepare them to navigate the highly competitive Vancouver real estate market. The real estate industry is evolving, and I will continue adding to this series as necessary.

PART 1 – The Importance of Working with a Realtor is available HERE

PART 2 – Financing Your Home is available HERE

PART 3 – Needs Analysis is available HERE

PART 4 – Preparing the Offer

When you find a home that you like we’ll prepare an offer for the property. Each property is unique, and together we will evaluate its pros, cons, and value when preparing the offer. Below, I’ve created a list of factors that will help you understand the process and increase your chances of securing the property.

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Buyer Preparation Part 3: Needs Analysis

Buyer Prep Series

Introduction

Insufficient buyer preparation when searching for a property is a recipe for disaster. If you fail to prepare, the process will be long, frustrating, and filled with disappointment. Much of the work I do is with first-time buyers because it brings me great satisfaction to help people achieve their goal of home ownership. Unfortunately, many buyers make the same mistakes which prevent them from achieving their goals. I’ve created this educational series to help my clients improve their chances for success, and to better prepare them to navigate the highly competitive Vancouver real estate market. The real estate industry is evolving, and I will continue adding to and updating this series as necessary.

PART 1 – The Importance of Working with a Realtor is available HERE

PART 2 – Financing Your Home is available HERE

PART 3 – Needs Analysis

There are many factors to consider when searching for a home. Part of my job as your Realtor is to help you identify and prioritize your needs through conversations and client coaching. The basics of a home (size, bedrooms, bathrooms etc.) are only the tip of the iceberg when it comes to performing a needs analysis, but by far the most important factor to consider when buying your home is LOCATION LOCATION LOCATION! In fact, most buyers are willing to sacrifice space in exchange for a location that will reduce their commute and increase the quality of their everyday lives. We need to dig deep and identify your motivations so we’ll focus on the WHY, WHERE & WHAT .

Let’s first establish something important – chances are we’re never going to find your ‘perfect home’. Unless you have an unlimited budget and timeline, this would be nearly impossible to achieve. Really, the only way to get that perfect home is to design & build the property from the ground up, which isn’t an option for most buyers. What we will do is focus on finding you a safe, solid, and secure home that you can enjoy for a price that you can afford. It’s also rare to find a property that is truly in move-in condition; most buyers will want to make some changes and put their personal touch on a space so try not to focus on cosmetics – those are an easy fix. Adding your personal touch is one of the most enjoyable and inspiring steps in purchasing a home so always look for potential.

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Buyer Preparation Part 2: Financing Your Home

Buyer Prep Series

Introduction

Insufficient buyer preparation when searching for a property is a recipe for disaster. If you fail to prepare, the process will be long, frustrating, and filled with disappointment. Much of the work I do is with first-time buyers because it brings me great satisfaction to help people achieve their goal of home ownership. Unfortunately, many buyers make the same mistakes which prevent them from achieving their goals. I’ve created this educational series to help my clients improve their chances for success, and to better prepare them to navigate the highly competitive Vancouver real estate market. The real estate industry is evolving, and I will continue adding to and updating this series as necessary.

PART 1 – The Importance of Working with a Realtor is available HERE

PART 2 – Financing Your Home

Financing is easily the most important factor in purchasing a home. Many Realtors, including myself, will not commit serious time to working with a buyer until their finances are in order. I’m always happy to sit down with a prospective client to introduce myself and provide you with some education & guidance, but we need to be sure you can afford to purchase a home before we begin our search. We must establish an accurate budget so we’re not guessing about what you can afford. You can’t purchase a home unless you have the funds available so this should be a top priority!

How do you prepare your finances to purchase a home? You’ll first need to save for a down payment, and then you’ll need to contact a Mortgage Broker and apply for mortgage pre-approval. Ideally, you will be able to save 20% or more for the down payment, but the absolute bare minimum you’ll need is 5%. Your Mortgage Broker will advise you on your financing options. If you need assistance finding a qualified Mortgage Broker then let me know. I work with some amazing professionals and I would be happy to connect you with one.

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