According to real estate analyst and experts, the Vancouver real estate market will be divided into two markets in the next 10 or 15 years and these two markets will be probably financed by baby boomers. When choosing for the right Vancouver real estate you should at least follow some of the tips provided in order for you to come up with the best and right decision.
You should decide how much you can afford to invest. When deciding you should know your current home needs. You should also foresee the size of property you want to own in the future, or if do you have any plan of renovating it in the near future. Well, if right now you still don’t know how much you can afford to buy a property, the great way for you to find out is by consulting a mortgage broker or mortgage advisors. They can provide you valuable input for how much you can buy based on different factors such as your current income, asset and/or immigation status.
Once you determine the value you can afford, you may consider which factors are most important to you for your dream home. The factors include location, age of home, new renovation, condition, size of house/home and/or special features etc. Then, determine the priorities which one are the most important. Then, you can start your home hunting.
Get a reliable and trustful Realtor and Real Estate professional to help you. Search your dream home based on your requirement. And provide you unbiase surrounding information such as recent SOLD, ACTIVE listings so that you can know how the market going. And get statistics of local areas and get the high/low/average/median price for these properties. Other useful information may include government assessment.
Many people may ask about how much you can negotiate. In fact, it is not the main indicator how much. Instead, we need to understanding if the property is listed overprice, fair price or underprice. It is because the listing price can be various and the Sellers can decide how much they want to post a higher value for listings. The most important factor to consider is how much the real estate property (house or Condos or Townhouse) are valued based on the recent real estate transactions and overall market trend as well as local market trend. Then, you can determine what is the fair value of the property. Then, determine what strategies and price you may consider to put up your offer.
Stay tuned. We will discuss more on the blog what are the important factors or clauses should be considered when putting up in the offer, and will provide more useful blogs to help buyers and sellers to buy and sell real estate.