So you have decided to buy a new home. Although Canadian home buyers have seen real estate prices drop late this Summer for the first time since 2013, Vancouverites and many other Canadians live in a hot real estate market. Many buyers classify the experience as stressful, but there are a few tips and tricks to consider when in the market for a new home.
Even in a hot market there are times of the year that are typically more slow than others. In the middle of the Summer and throughout the end of year holidays and New Year agents see a lull in the market. Because of this buyers may be able to benefit from a highly motivated seller and save some money.
Factor in the legal fees and transfer taxes of purchasing your home so you are not met with surprises. If you are in the market for a condo or strata property make sure you know your comfort level when it comes to associated fees.
You know the real estate credentials… Location. Location. Location. Make sure you research the neighborhoods you are shopping in so you understand what the hard facts are. Is there pending developments? What is the crime-rate? Understanding the current state and future plans for a community can help you decide if it fits your lifestyle.
Buying a home should be an exciting time, not one filled with uncertainty and stress. Make sure to do your homework. Happy shopping and remember to call us at SK Law Offices for your real estate legal needs.