Thinking of Buying in Vernon or the North Okanagan?
We understand the relationship between homebuyers and Agents must be based on trust, mutual goals and understanding–this is why we always keep your interests first and foremost. The real estate process requires negotiation of complex issues; we are committed to working in your best interests. We will help you secure the best possible price, with the most favorable terms, in the shortest period of time.
When searching for your dream home, it’s important to be well informed of the Real Estate market.
To help you with this process, consider the following factors:
- What features do you require in a home to satisfy your lifestyle now? Five years from now?
- Will your needs change?
- What is your budget?
These are decisions only you can make, but we will do everything possible to match you with your dream home.
First Time Home Buyers
You've picked a great time to buy your first home. Despite steady appreciation of home prices, relatively low interest rates have kept the costs of home ownership at near historic lows. Here are some tips to help you with the process of becoming your own landlord.
Pre-qualify for a Mortgage
Being pre-qualified for a mortgage determines how much house you can afford. It also allows you to move more swiftly when you find the right house, especially when you aren't the only interested buyer.
Shop for Mortgage Rates and Terms
A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 25 years, that's $10,500.
Using a Buyer's Agent
A buyer agent is legally responsible for representing the buyer's interest in a real estate transaction. Generally, the buyer agent is compensated by the seller at the time you purchase a new home. There are some limitations to using a buyer agent, however. Before you decide, have your Realtor explain the advantages and disadvantages of using a buyer agent.
Rate the Houses you Tour
Develop a list detailing all of the features you are looking for in a home. After touring each home, check off each feature the home has and write down any additional comments i.e what you liked and didn't like. Develop a rating system; this will help you narrow the field down.