Buying A Home in Vancouver BC

The Decision to Purchase

What are my choices?

What can I afford?

What are my needs?

What is a real estate agent?

Where do I start?

How do I make an offer?

How do I close the deal?

The Big Search !!

Now it's time to begin your informed search for that "right" home. You have gathered all the information you need to make a rational decision rather than an emotional one, but it may not be easy! You, like everybody else, will probably want what you can't afford. Try not to be discouraged. Every homeowner started somewhere and there is definitely a place for you!

By being systematic; browse through newspaper adds; drive around; visit open houses; discuss your requirements with your Re/max Crest agent; and most importantly, take a careful look at each house.

What should you look for?

Don't be shy! You are about to invest a lot of money and you should investigate each property thoroughly. Pay particular attention to the following:

• What size and shape is the lot? Is it fully serviced with sewage, water, gas and electrical lines?



• How many square feet of living space are there? How many rooms?



• Condition and age of the roof - are there any leaks or recent repairs?



• Are the interior walls and ceilings solid? Drywall or plaster? Is there any evidence of leaks or cracks?



• Are the floors firm and level? Does the ceiling sag?



• Is there evidence of termites or dry rot?



• What type of floors are beneath the carpeting?



• Are stairs and door frames level and well joined?



• Is the natural lighting to your liking? Which way does the front face - north, south, east or west?



• Are the room sizes adequate for your family's needs? Is the layout compatible with your habits?



• Is the kitchen suitable? Are there enough outlets and space for appliances? What about cabinets?



• Are storage areas and closet space adequate?



• Can the wall space be utilized to suit your needs? Check the locations of doors and windows.



• What is the condition of the basement and foundation? You should check the walls and floors. Is the floor dry? Are there hookups for a washer and dryer?


Each house is unique.

Keep some notes to enable you to remember the details later!

Buyer Beware !

If you think you have found the right house but you have some concerns about it's structural soundness, now is the time to call in an expert. Consider having the house inspected by a building inspection service which will prepare a written report. Your purchase is a big investment, so think of the fee for this service as an insurance premium.

What other questions should you ask?

Is a Property Condition Disclosure Statement available?

In British Columbia, vendors may be required to complete (or may voluntarily complete) a Property Condition Disclosure Statement in a prescribed form. This statement provides information about the state of the property to all potential purchasers.

What about condominiums?

If you are contemplating the purchase of a home which involves the condominium or cooperative type of ownership, there are some additional points to consider:

• What are the charges for common area maintenance? What services or utilities are included?



• Does the project have a good reputation for honesty and successful operations? Are units, not controlled by the developer, being successfully resold?


• Who controls the recreational facilities? Will you be required to pay extra fees for using any of the facilities?



• If it is a new development, is there a certain date when your unit will be ready for occupancy? Will the swimming pool and other facilities be completed by that date?



• Who manages the property? Is it managed professionally or is it the owner's responsibility?



• What contingency reserve fund is maintained for roof replacement, decorating, repairs and maintenance?



• Are owners permitted to rent their units to tenants? How many rental units will be allowed in the project?



• Have any special assessments been agreed upon or have any structural problems been noted which may lead to a special assessment in the future?

Ask to see the current Bylaws, Rules & Regulations and the Annual Budget. These documents will govern the manner in which your unit and the common areas may be used.