Why These “ How To Buy A House In Chilliwack ” Tips Guarantee You Peace Of Mind.

Buying a home can be an intimidating process. For first time buyers, learning how to buy a house can determine the success of the biggest purchase you have ever made.

If you have purchased a home before, you already know the obstacles you can be facing.

A Dream Home

So let me teach you how to buy a house and build confidence in your biggest investment!

Some concerns you may have are:

• What if the house I am buying has mold, asbestos, termites, or other important problems (You can use the Home Buying Checklist so you will know how to recognize these problems, and skip troublesome properties!)
• What if Renting Versus Buying A Home is my most suitable living option? (Some home buyers don’t realize that buying a home might not be the best option for them, depending on their financial situation.)
• What if I am a first time home buyer? You should consider looking at the First Time Home Buyer Tips Article to help bring you up to speed on important foundational knowledge that will aid you in making an informed decision.
• What if I want to buy a foreclosed home? The How To Buy A Foreclosed Home Article can bring you up to speed on everything you need to know about buying foreclosed homes.
• ...And If you are interested in foreclosures...
  Read my article on The 3 Advantages (And Disadvantages) to Buying A Foreclosed Home.
• What if I want to buy a mobile home? Then the Buying A Mobile Home Article can help answer a few of your questions (although reading the rest of the page you are on right now will also be of use to you!).
• Am I Eligible To Receive Grants For Buying A Home?
  I have written this short article to help you learn about the different homeowner grants so that you can save money on your property taxes.
• Do You Have Any Additional House Buying Tips?
  The Top 5 House Buying Tips Article can help you learn the most important information you need to know when buying a home.
• What about the debate of Building VS Buying a home??
  My article, 3 Reasons Why Building VS Buying A Home Could Be A Wise Decision will give you a few things to think of that will help you make a decision to build, or to buy.

Of Course, everything boils down to a few simple, and necessary questions. Ask yourself:

• What are my housing needs?
• What is my budget (And what type of down payment can I afford?)
• What choices do I have available to me?

What are my housing needs?

There are many variables to consider, and sometimes you might not be able to get all the ideas right away. To start you off, ask questions like:

• Do I have a family?
• How many rooms/bathrooms do I need for everyone to live comfortably?
• Do I want a big yard, or can I handle living in an apartment?
• Would I be interested in Renting Instead of buying my house?

These will all affect the decision you make when learning how to buy a house.

What is my budget?

Learning how to buy a house has a lot to do with your budget. You should look at things like:

• How much money do I have saved right now? (A Down payment is often 5-10% of house price)
• How much money can I borrow? (Talk to a mortgage broker, who will show you how much you will be allowed to borrow)
• What type of last minute fees will I need to spend money on? (Described in my article: 4 Unexpected Costs Of Buying A Home You Don't Want To Forget)

Depending on your budget, you may even decide that Renting Vs Buying A Home is the best option for you.

Also like most people, you will need a mortgage (How much money can I borrow).

What Choices Do I Have Available To Me?

1. Single Family, Detached House
This is a basic house. It isn’t attached to anyone else’s home (Like a townhouse), and it has a front, side, and backyard.
2. Semi-Detached Home
This is when two houses are joined together creating a “Duplex”. Two families will often live in this type of house.
3. Townhouse
This is a small community of homes. They often look alike, and sometimes are even attached to each other (Sometimes 4,5, or more houses in a row).
4. Apartment
You know those massive buildings with 100 small residences in them? That’s an apartment.



5. Mobile Home
A mobile home is a home designed to be moved from one place to the next. It’s not incredibly large, but not too small either. A suitable choice for people with low-income, and also for small families (4 or less people) with low-income .

1. Freehold Interest
Also known as a “fee simple”. This basically means that you are the owner of the home! Good for you!
2. Strata Title
This type of ownership applies to people who live in Duplexes, Apartments, Town Houses, and Warehouses. This type of ownership also entitles you to certain “Shared Space” such as Garages, Elevators, Hallways etc.
3. Leasehold
This is when you buy a lease for a property, usually for a long time (Sometimes longer than 99 Years). It is very similar to owning a property, minus the actual right to the deed (eg. You cannot sell the property, although you can sell your lease).
4. Cooperative
Each owner owns a share in a company which provides them with a housing unit in which to reside.

Home Quality

Even if you find the perfect home, with the perfect amount of bedrooms, floor space, and yard space, you need to make sure if the house you are buying doesn’t have any major problems that could cost you a bundle (Like a cracked foundation!)

To help minimize the chances of you making an unsafe purchase, I have created a Home Inspection Checklist that can help you discover common flaws in a house.

Making An Offer: Almost There

A caution: the written offer is a legally binding contract, so once you sign it you have to follow through on anything it says. Of course, both you AND the seller are required to follow through on the contract, so you aren’t alone in the deal.

The Written Offer Includes:

• Date of Offer
• Date and Time your offer expires.
• Full Legal names and addresses of the buyer and seller.
• Full Description of the home.
• Amount of deposit you are giving (Which will count towards your down payment).
• Final Price of Property.
• Amount of Down Payment along with Details on Financing.
• Your desired possession and closing dates.
• A list of final conditions that must be met before sale is made. (Such as a professional building inspection, the arrangement of proper financing, the sale of your present home, and the approval of your mortgage)
• A list of items that are included in the sale (Such as lights, refrigerators etc.)
• Your Personal Signature.

The seller can then accept the offer, reject it, ignore it, or make a counter offer (This happens if the seller wants to change certain parts of your original offer).

Completing The Purchase

This way you will be protected from certain legal clauses that you might not recognize. Remember, these people do this all the time, so it is in your best interest to let them do their jobs!

Summary

• Your housing needs and Budget will greatly affect which types of houses and ownership will be available to you.
• Even with a mortgage you are often required to pay 5-10% of the total house cost upfront.
• Be sure to check your house for any structural problems using the Home Inspection Checklist.
• Look into renting to see if it may be more suitable for your situation than buying a home.
• Remember to take into account last-minute fees such as taxes and home inspection when deciding your budget.

I highly recommend that you take a look at my Home Buying Checklist to make sure that you have done everything you need to do when buying a home.

As well, if you are a first time home buyer then you probably still have many questions. So how do you get your questions answered? I reveal this to you with my number 1 Buying First Home Tip.

Let Me Guide You Through Your Purchase

Of course, you still want to make a smart, well-informed decision. But you also want it done quickly.

A difficult task; but it doesn’t have to be!

If you hire me as your Real Estate Agent, I promise to help you find the home of your dreams while making an informed buying decision.

Learn more about why you should hire me as your Real Estate Agent.

My Promise To You I will always give my professional opinion, and help you make the most informed buying decision possible. I will return your calls and emails, and will always show up for appointments. I won't push you into something that you are not 100% comfortable and confident in. I will work diligently to help you sell, or buy your house at the absolute best deal possible. I am a Professional Real Estate Agent and you will receive my undivided attention. Cam Vanklei (604) 795-2955 Chilliwack BC, Canada HomeLife Glenayre Realty Ltd.

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