Moving to a new home always comes with a lot of problems, paperwork and things you only discover afterwards. These five tips from Jay Banks Vancouver realtor are a must-read for you, if you want to avoid future problems, and loosing a lot of money on your callowness.
1. Neglecting your future plans. For how long are you planning to live in this house? Very possibly not forever, so you'll want the property to appeal to potential buyers. Buying a home with good resale value might take longer and more effort is required, but in the end the state of your bank account will make it all worth. A low price isn't a "good deal" if the house won't appeal to future buyers.
2. Treating real estate as if it was stock market in terms of risk management. Real estate is one of the few things in the world in which risk is directly proportional to your knowledge - the more you know, the greater the change you will end up with a good property that will sell. Take your time and learn.
3. Not using a buyers agent. Using an experienced real estate agent to help you with your needs is a smart move. A real Buyers agent can help you with the contract, deal with the piles of paperwork, give you advice on where to look at and schedule all the needed inspections.
4. Not having the house inspected by a professional. Have your realtor arrange a home inspection with a certified house inspection service of your choice. The costs will be approximately $250.00 to $400.00 plus GST depending on the size of the property. This could be your best money ever spent!
5. Not having written agreements.
It's extremely risky to depend on verbal agreements. They cannot be enforced and you have no guarantees - you and the person you're working with don't have the same memory and there can be major differences in interpretations of what was agreed to. Avoid this at all costs.
Jay Banks is an award winning realtor selling Vancouver houses since 1991. He is professional and competent in the business of real estate and is a specialist in listening carefully to his Buyers and Sellers and working to successfully fulfill their needs in a home.
