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Tips for First Time Home Buyers

The experience for first-time home buyers in North Okanagan is similar to that of anywhere else.
Here, we’ll be helping you out with some basic understanding of the situation you must face when buying your first home.

Knowing the Budget and Getting Pre-Approved:
It will be convenient if you have savings piled up in your bank account before you consider the purchase. If not, you should see your banking or mortgage specialist to help you with a suitable financial plan.

The banker or mortgage broker will equip you with a rough estimate of how much you’ll be able to borrow. This approximated amount is known as pre-approval.

The mortgage pre-approval amount is calculated based on the information you’ve filled in at the bank. The estimation will be more accurate if you provide the correct information.

Hiring a First Time Home Buying Specialist:
After you decide the area and specifics about the home you want, hire a real estate agent that specializes in assisting first-time home buyers.

Hiring a good realtor is vital because you may end up paying extra fees to agents if you don’t have a good realtor standing by your side. The Buyer’s agent you hire for your deal is obliged to let you know about all the fees involved while going forward with the deal.

First Time Buyer’s Market Analysis:
You shall make an analysis of the real estate situation on your own and understand the scenario before pursuing any help.

Take a detailed look at list prices of the locality and then compare them with the market value to have an idea for the bargaining window you can use.

Once you find your dream home, do a detailed analysis of its pricing to find out whether it’s worth the asking price.

Real Estate Offer:

A real estate offer is the contract of the purchase you make. You should ask as many questions as you want while you’re writing the offer with your Realtor.

It’s a common misconception about the real estate offer just being a document that states the price for the property. However, it is way more than that.
The offer explains the asking price and what the buyer will pay for it. It also includes an overview of the terms the buyer would live to go on with if the seller accepts it.

5 reasons why you should hire a real estate agent for buying or selling your property

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Lots of information is available online. You can look at what properties are available in the Okanagan market, their prices, and more. Still, you need to hire a professional Okanagan real estate agent. Here are the reasons why.

Education and experience

You will not have similar education and experience like a professional real estate agent. These people are smarter than you. They know the market well. So, instead of wasting your time, you should hire a real estate agent to do the job.

Knowledge about the neighborhood

Real estate agents have very good knowledge about the neighborhood. They know which property is available for sale in the area. They will be able to match the requirements of the customers easily.

Price guidance

Real estate agents have good knowledge about the price of the property. So, they will be able to guide you and help you make the right decision.

Professional networking

Professional real estate agents have a strong network. So, they can help you to find a good lawyer, home inspector, and others.

Takes responsibility of the paperwork

A real estate agent will take care of all the papers. From contract preparation to signing, everything will be handled by the real estate agent.

A real estate agent has huge knowledge on the local real estate market. They are the ones who can get you the best Tallahassee homes for sale with pools that is available in the market currently.

Top 4 reasons to invest in the Canadian property market this year

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Property experts say that the year 2016 is best for investing in the property market in Canada. Properties in Canada are very high in demand. Here are the top reasons why.

1. Low-interest rates

If you buy a home in Canada this year, you can get a mortgage at a low-interest rate. So, buying a house will become more affordable.  It is expected that in British Columbia, the economy will grow by 1.5 percent and the next year 2.5%.

2. Positive trend in property buying and selling

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The Toronto and Vancouver markets are expected to produce records sales. If you can buy in the lowrise category, then you will expect more growth in this area. In the Greater Vancouver, the average home price increased by 20.56 compared to the previous year.

3. Market activity improves in spring season

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Spring is a very busy schedule for the real estate market in Canada. Warmer weather encourages more activity in the real estate market. It is a great time to put up the ‘For Sale’ sign on your property.

4. Improvement in the tourism sector

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The number of tourists to Canada is increasing day by day and the Okanagan is no exception. As such, the demand for hotels and resorts are high. If you are looking forward to earning some money, then invest in a good commercial property to build a nice hotel or resort. Or you can even tap the growing AirB&B trend and purchase an income producing property.

A great choice for a professional realtor in Kelowna or the Okanagan would be Annette Denk of RE/MAX.

Property investment in Canada is on the rise. Soon, you will find large international investors are investing in the Canadian property market.

4 things to do in British Columbia for your next summer vacation

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Summer is a great time to visit British Columbia. There are so many things to do in here. The commercial real estate business here has improved over the past years due to the increasing number of tourists coming here to spend their vacation in every summer and other seasons as well. Here are some of the activities you can enjoy in British Columbia.

Fun in the water

You can catch the Yacht Race that takes place in the month of May in Victoria. This race attracts about 200 crews from different countries. Spectators can enjoy the race. You will love to see the waves dancing with the yacht.

Dive in the Osoyoos Lake

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The summer temperature in British Columbia can get as high as 310C. So, you can feel refreshed by jumping into the Osoyoos Lake. Ther are lessons available for both kids and adults in the nearby areas.

Enjoy the sunshine on coast

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The Horseshoe Bay region becomes very lively in summer. Different festivals are held here including the Pender Harbour Blues Festival and Gibsones Landing Jazz Festival. You can enjoy delicious street food while listening to the music.

View wildlife on the Cariboo Chilcotin Coast

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You will be able to spot wildlife. You will be able to see Kermode bears, Klemtu, etc. There are guided motorboat tours to take you through the rainforest.

British Columbia is a wonderful place to be with family and friends. Plan your next summer vacation here and have a trip of a lifetime.