A new year is a new beginning; and as part of that new beginning, a lot of people like to set resolutions for the new year. Whether it’s quitting smoking, losing weight, or saving money, people set all types of goals to work toward in the upcoming year.
If one of your goals is to buy a home, then here are 3 new years real estate resolutions for you to accomplish before you buy to help make sure your purchase is a successful one:
3. Get pre-approved for a mortgage.
In Vancouver’s competitive real estate market, having a ‘subject to financing’ clause in your offer is a just another reason for a seller to reject it, or to make someone else’s offer look that much better. By meeting with a lender ahead of time, you can get yourself pre-approved so you’ll know exactly how much you can afford and exactly how much the bank will lend you; and when the time comes, you’ll be able to remove that financing clause from your offer.
2. Have your downpayment all saved up and ready to go.
In Vancouver, real estate comes on the market, and it goes off the market; quickly. When you find a home that you want to put an offer on, things will move fast. Remember how you’ve already met with your lender and gotten pre-approved? Well they’ll be able to tell you, based on your maximum purchase price, how much downpayment you’ll need; and then you’ll want to make sure that you have that amount in an account somewhere that you’ll have easy access to.
1. Meet with several real estate agents, and pick the best one for you.
Before you go seriously start looking for a house in-person, and over and above searching mls.ca, you’ll want to make sure you have a good real estate agent on your side. But there’s just so many of us out there, so how do you figure out which one is best for you? My advice is to meet with a few different real estate agents, ask them lots of questions, and pick the one that you feel the best and most comfortable with. Remember, you’re picking someone to help you with what will probably be the biggest purchase of your life!