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Steps To Buying A New Home, Condo, Town House or Property in Burnaby BC
When purchasing a Burnaby home, you are faced with a multitude of decisions! The primary one is whether you are actually prepared to purchase a home. Locating the perfect home is not always an easy task, and obtaining a mortgage loan can be a complex and tiring process. But once you are ready to take the plunge…It can be a very rewarding experience.
My team and I will help you enjoy the process of purchasing a home. Our 28 years experience can make things more efficient and less overwhelming by guiding you through the process. We will help you locate and assess properties for sale that match your specifications, arrange showings, identify any problems or issues, structure an appropriate offer using comparable sales and negotiate the best price for your purchase.
As real estate markets are continuously changing we always stay up to speed with the current situation in the Burnaby area so we will help you determine which properties are fairly priced and in good condition before make an offer.
YOUR FIRST STEP: LOAN PRE-QUALIFICATION
Before you spend time looking at homes that might not suit your budget, your next step in the purchasing process is to get prequalified with your bank and a 2nd mortgage broker/company. The reason for a 2nd mortgage broker/company is to put pressure on your bank to sharpen their pencil and give you a competitive interest rate and favorable terms.
Sometimes your bank won’t comply and having a second option as a back up is prudent.
This can be done over the phone or even online in a matter of minutes. Give us a call and we will refer you to a mortgage professional that has an excellent reputation and track record for successfully acquiring loan approvals for his/her clients.
YOUR SECOND STEP: WHAT ARE YOU LOOKING FOR?
Your next step to buying a home is to ask yourself why you want to buy a home: Is it to stop paying rent? To start building equity? To have a place of your own? To raise a family? Control when you move? To entertain friends and family? To move up to a bigger house? Next, list what kind of home you are interested in and where you would like to be. Be specific. Separate your “wants” from the “needs”, but also stay realistic and open-minded with the budget.
You’ll want to consider area (city, suburban neighbourhood); community (north, south, east, or west side); neighbourhood (older and settled or sparkling new); a particular school catchment; recreational facilities; and other community services such as transportation, day care, library, stores, entertainment). Ask yourself how many minutes you are willing to commute to work.
Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and kind of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you are planning to live in this particular home.
YOUR THIRD STEP: FINDING THE RIGHT HOME FOR YOU
Once you’ve been pre-qualified and know what price range you want to adhere to, we will help you determine which properties fit your needs by using the (MLS) Multiple Listing Service system to locate them. We have also been known to target specific properties for our clients if there are no suitable choices on the MLS.
We have the best possible resources and communication systems available to help you locate the homes on the market that match your specifications.
NEW LISTING ALERTS
your own Free Lightning Fast Listings Website. No need to search the internet everyday for 48 hour delayed listings. Listings that fall under your search criteria will upload to your personal site everday as FAST as a realtor can get them. Perfect for Buyers and Sellers whether you’re looking for a new home or watching prices in your area!


ARE YOU A FIRST-TIME HOME BUYER? HERE IS WHAT YOU NEED TO KNOW...
- The B.C. HOME Partnership program will meet the buyer’s contribution up to 5% of the home’s purchase price, to a maximum purchase price of $750,000.
- After five years, buyers can either repay their loan or enter into monthly payments at current interest rates.
- Loans through the program become due after 25 years - the same length as most mortgages.
- The B.C. HOME Partnership program started accepting applications on Jan. 16, 2017.
BEN CATALANO
Your Burnaby Realtor serving you since 1991.
Team 3000 Realty 305-9940 Lougheed Hwy, Burnaby, BC V3J 1N3
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