Want to Know the Steps to Owning Your Vancouver Home?
Vancouver is one of the most livable cities in the world. In 2011, The Economist rated Vancouver third out of ten of the most livable cities in the world. It's no wonder why the property market in Vancouver is getting so much attention these days.
The property market of Vancouver in 2011 has increased by an incredible 12.17% since 2010, which means there's no better time to buy like the present. Buying a house is a wonderful and exciting experience, but can also become stressful if you're unfamiliar with the procedure. The keys to buying your property as comfortable as possible are easy:
1. It's a good idea to find a realtor. A realtor will help facilitate you in finding the perfect home with all of your needs taken into account. Searching for a great realtor can be as easy as searching online. Make sure you feel confident and comfortable with your realtor, as you will be spending a lot of time conversing with them up until you've settled into your new home.
2. After you've found a fabulous realtor and consulted with them about your needs, you will have to consider your financial options. At this time it will be a good idea to meet with your bank and find out what you can afford.
3. It's time for the fun part - House hunting! Narrow down the locations you are most interested and the price range you can afford and hit the streets. Make sure you call first to set up a proper appointment, or get your realtor to. Don't be discouraged if you can't find anything right away. It takes patience to find a great home.
4. You've found your dream home it's time to start the bidding. Sit down with the sellers and make an offer. It's always useful to know the value of similar housing that has sold in that location so you have an idea of what a starting offer should look like. After your offer is accepted you generally have a seven day period to get all the paper work out of the way to make it official.
5. It's time to transfer money from your bank account to the seller's account. You may need to meet with your lawyer or notary to make any finalizations. Approximately one to two days later after you start paying property tax you will be handed your keys to your very own home!
6. Time for a housewarming party! Set a date to celebrate moving into your new home with your friends and family.
See, it's not as complicated as you might think to purchase your own home in Vancouver. There are a few additional costs it's good to keep in mind such as the GST when purchasing a new home, property transfer tax, fees of the notary or lawyer, home inspection fees, home insurance, and moving costs. It may seem expensive, but how often do you go property shopping? Moving into your new home will be rewarding. You will make great new memories in it and it will be all YOURS!
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