Whether you're buying in Maple Ridge, Pitt Meadows, or anywhere in Metro Vancouver, remember to watch out for these mistakes:
1. Making on offer on a home without being pre-qualitifed. It will make your life easier so take time to speak with a lender or two. Their specific questions in regard to income, debt, etc. will help you determine a price range you are comfortable with.
2. Not having a home inspection. Trying to save money today can end up costing you tomorrow. A qualified home inspector will detect issues that many buyers can overlook.
3. Limiting your search to open houses, ads or the internet. Many homes listed in magazines or on the internet have already been sold. Your very best course of action is to contact a Realtor®. I have up-to-date information that is unavailable to the general public and is the best resource to help you find the home you want.
4. Choosing a real estate agent who is not committed to forming a strong business relationship with you. Making a connection with the right Realtor is crucial. Choose a professional who is dedicated to serving your needs – before, during and after the sale.
5. Thinking there is only one perfect house out there. Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities. Ask me for a Comparative Market Analysis (CMA). This compares similar homes that have recently sold, or are still for sale.
6. Not consider long-term needs. It is important to think ahead. Will the home suit your needs 3 to 5 years from now?
7. Not knowing the total cost involved. Early in the buying process, ask your Realtor or lender for an estimate of closing costs. Legal fees, Property Transfer Tax and GST are just some of the extra costs involved. Remember to carefully examine your Buyer’s Statement of Adjustments.
8. Not following through on “Due Diligence”. Buyers should make a list of any concerns they have relating to issues such as; crime rate, schools, power lines, neighbors, environmental conditions, etc. Ask the important questions before you make an offer on a home. Be diligent so that you can have confidence in your purchase.