Every home buyer has different must haves for their new place. We go over some examples of them and the importance of reading the documents before making an offer to buy.
Video Transcription: Pets allowed, rentals allowed, we have to read the documents. Read the depreciation report, engineer's report. Go through everything. Title search, see if there's anything you can pull on there. Take a look at everything in detail. PDS, insurance, make sure it's insurable as well. If the building is high risk for flood you may not insure it. So you might not want to buy that. So we would talk about all that as we went through. But First and foremost you want to get a price terms and conditions agreed on. If you get an accepted offer then we can tie it to that form to see if it makes sense and if it a good investment for you guys. What do you think is going to affect the market value and all those kinds of stuff? Obviously, it depends on where you live too, right? You can look at it at different ways. I get that question often. It depends on how you see the market. I see that July and August was more activity for sure. So things were a little bit active. And if you are going to live in a home for 7 to 10 years, at the end of the day you should be fine because as you have seen in the previous property that we sold, as long as you hold them long enough you are going to have some money. There is no guarantee in real estate. You can never use that word but as long as you not trying to buy for 6 months, flip it for next year. I wouldn't recommend that for this market but as long as you're going to love in it as a home for at least 5 years, I think you should be okay. Nobody knows if the prices are going up or going down. Enjoy your home and keep paying down your mortgage as fast as you can and enjoy the home because to have a Vancouver address is a big deal in today's market. So you prefer having a Vancouver address among anything else? I am a fan of Vancouver. I live in Vancouver. Look around you, right? So it's a nice place to live. I think in the West Ladner are great areas but still Vancouver is hard to compete with. Every area has some good things that you can compromise on. When you walk into a home you have to find if it has your must haves. You can't live without proximity to water, minimum 2 bedrooms, a decent amount of space at least a thousand square feet, price points, bathroom too so you can do your business. Or for your dogs, pet restriction is a big one for you. Maybe have a balcony so you can barbecue as well. You have at least 5 must haves then you have a few options that you cannot live with or without. Maybe the air conditioning, view, outdoor space, size, some wants little space some wants bigger spaces. Things that you need to can compromise on. Commute to work, age of building, developer, floor plan, exposure, you gotta be careful with some glass because it can get hot as you know. You got to keep in mind your dogs are going to be in there right? Instead of doggie day care. I have an AC installed. So you can always run that but lot of things we would look at those factors. For one of my clients, who bought recently in downtown before they bought it I put together about 40-50 pros and cons and I made sure we went through each one of them. Maybe there's street noise, a rail road track, the flooding in the area? Is it an issue. So there's lots of different things. What would be the safety for Julia to run in the morning especially if it's dark in the winter time. Is it safe for people to walk their dogs. So we would look into all these kinds of things. Talking to the neighbors. Even pulling some information mortgage brokers can call insurance companies, to see if there are any red flags with the building. If they won't lend on it, if it's under warranty. In general, at the end of the day, you don't want to walk into a property that's going to cost you more money. The good thing is that this a 4 year old property and still under warranty for one more year. So that is important.
Thinking about selling or buying a Vancouver property? Contact Vancouver realtor Ron Parpara at RonParpara@Gmail.com or 604-275-2997.
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