Buying A New Home

If you have decided to take the large leap into buying a home, there are many factors to consider.  Here are a few to consider:

• Understand before you start what is private
• Your Relationship with a Real Estate Professional 
• Privacy Notice and Consent
• Are you ready / prepared to buy? Financially, do you have a pre-approved mortgage? I can recommend options for the best mortgages
• What costs will be involved when moving?
• When is the best time to buy a property?
• Are you in a hurry to move?
• Choosing the Right Agent is as important as choosing the right house - speak to me for tips
• Seek legal representation
• Have you organized your down payment? Do you fully understand the tax implications of withdrawing money from your RRSP’s or stock options?
• Consider the effects of moving could have on your taxes

After you have considered the above topics, give me a call or send me a quick note patrick@patrickodonnell.com with further questions or concerns. We can then set a time to sit down, have a chat and a cup of tea to discuss the options.

• I will provide you with options for financing
• I will go over the disclosure issues re Agency. I have referenced this on the first line at the top of the page. It’s important. These rules have changed.
• I will explain what you can and cannot expect from a home inspector
• I am not here to just push you in to the first home; I am here to provide you with enough information to make an intelligent decision. If you are not intelligent… then I can help you with that also!
• Lifestyles and changes.  Do you plan to have children?  Do you have children that are moving away? Are you close to retirement?
• Needs vs. Wants.  What features do you want in your new home? What features do you need?
• Consider a neighbourhood you might like to move to
• When viewing, check for properly working appliances/fixtures
• Look at maintenance costs.  Newer appliances or covered by warranty
• Search the neighbourhood for businesses within the area, ex. Schools, hospitals, malls, etc.
• Arrange for home inspections
• Be an informed buyer.  Some neighbourhoods have deed limitations.

Purchasing a new home can be difficult and confusing, but there are people who you can help.  Whether they help you figure a price limit that you can afford, or take you on tours of neighbourhoods and houses that interest you, all of these professions are important to the Buying/Selling process.  Certain professionals that you should consider for help: 

•  Real Estate Agent
•  Lender or Mortgage Broker
•  Lawyer/Notary
•  Home Inspector
•  Insurance Broker
•  Appraiser
•  Land Surveyor
•  Builder/Contractor

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Patrick O'Donnell Personal Real Estate Corporation
Royal LePage Sussex
2397 Marine Drive, West Vancouver, V7V 1K9
Phone: 604-839-3863
Email: patrick@patrickodonnell.com and Website: www.patrickodonnell.com