Category: Real Estate

The biggest mistakes condo buyers make

The biggest mistakes condo buyers make

Are you interested in finding the best Burnaby condos? You are not alone. Burnaby is one of the most places that appeal to potential buyers due to its unique location, amazing facilities and amenities. But finding the perfect condo is not an easy task. In this article we will highlight the biggest mistakes condo buyers make and how to avoid them:

  • The fear of missing out:

The real estate market in Vancouver is on the rise, with a lot of amazing options and a wide range of selection. Condo buyers usually panic and feel overwhelmed or pressured to rush into a decision before it is too late. This is what we call “The fear of missing out”. You shouldn’t feel pressured to buy a suite just because everyone is doing so, or to get tempted by something that you can’t afford on the long run. Many people end up paying everything they make to pay off the mortgage. Stick to your budget limit and don’t buy something that you don’t need.

  • Not getting pre-approved:

Talk to your mortgage broker before looking for a condo. The market moves fast and the prices change quickly. Once you find a condo that you like, you will have to act fast. You don’t want to fall for something that you can’t afford. Have everything settled before you ago on the hunt.

  • Getting deceived by the looks:

Some investors try to make a lot of money by buying an old building and renovating it using cheap material. Many times, buyers will fall for something that they wouldn’t normally consider just because it looks new and shiny. Make sure that all renovations are made using quality material and are done by qualified and trained workmen.

  • Ignoring the importance of location:

Location is the most important factor to consider before buying a condo. If you are considering two units, always go for the one that has a better location. Do enough research before you make your decision. Make sure that you study the area and its potential. Visit the neighborhood at different times and go online to find information about the shops, the restaurants and the commuting time.

  • Not having a representative:

This is a big mistake that many potential buyers make. When you are buying a condo you are usually dealing with the seller’s agent, not the seller himself. You should find yourself a trustworthy realtor to represent you and take care of your side.

 

Avoid these mistakes and you will end up with the best deals for the most suitable Burnaby condos.

5 Reasons You Should Sign Up With a West Vancouver Realtor

Whether you are buying or selling a home, it is a good idea to hire West Vancouver realtors. Real estate transactions can be a great hassle, and involves many things such as finding buyers or sellers, handling of documents, speaking to attorneys and more. You can ensure a smooth process with the help of a realtor and ensure that your property purchase goes off as easy for you as possible. Know 5 reasons why you should sign up with a realtor.

Help with documentation

Whether you are a property buyer or seller, you will need to handle a number of important documents. Indexsy went through the process with Dave Jenkins, and loved it! Proper knowledge of the complex terminologies is essential, and handling paperwork can be a real hassle without an agent being there to handle it all and help you at every step of the process.

Proper guidance and advice

There are many elements in Vancouver real estate transactions, such as financing for repairs, inspections and appraisals which you might not have any idea about. You can get proper advice and guidance about the same from a West Vancouver Realtor, who is licensed and trained to handle such concerns and queries of clients.

Assessment of property value

With many years of experience, agents can help you to assess the worth of your property in an accurate manner. You can get proper suggestions on whether the home you are intending to buy comes with lots of hidden expenses, such as restoring the foundation, repairing the drainage system and more. Real estate agents closely work with home inspectors, and they too have a fair idea about the usual flaws of homes which demand a lot of expense on the part of buyers.

Proper negotiations

No one can negotiate better on your behalf than a realtor who has enough experience, expertise and knowledge of ground realities. He can point out the absence of things, such as really good location, proximity to amenities, repair expenses involved, structural flaws and more, which can compel the seller to reduce his offer price.

Property promotion on different platforms

You can also use varied platforms to promote your own property. Whether on social networking websites, classified ad sites, MLS, realtor magazines or real estate magazines and forums, a good realtor can list your home in all of them. If you are selling a home or a piece of property, you can attract a lot of buyers with the help of a qualified and experienced realtor.