Moving can be very exciting but it can also be very stressful as there are so many things to remember to do!
Don’t despair; whether you are doing it on your own, asking friends for some help, or hiring professionals, here is a quick guide to help you get through the buying process.
Avoid nine critical mistakes that could cost you thousands of dollars when buying your home!
Vendors tend to give less of a counter offer (closer to list price), if they feel insulted. Understand the current market value of the home and comparable SOLDS.
A pre-approved mortgage can be done for 90 days for FREE. You can usually negotiate your mortgage rate between 1/2-1% off the posted rates with your lender.
A home inspection with a qualified engineer costs about $300.00 (approx). It could very well be your best money spent. You want to know exactly what you are bidding on.
The most advantageous situation is to purchase the worst home in a good area, rather than the best house in the worst area. “Location, Location, Location” is true!
When you have a down payment that is almost 25%, it is usually less expensive to arrange a first and second mortgage and save on CMHC insurance fees.
On your mortgage, you will save the most money if you opt for an accelerated Bi-weekly payment plan, or if you double up one payment per year. This will shorten your amortization periods by over 6 years.
Place up to $20,000 per person of your down payment in a short term RRSP to be held for at least 90 days, or until closing.
These are separate from disbursements. Ask your agent, who will be able to refer you to reliable professionals.
My family has been living in Kelowna since the 1980’s. This is really important for you as a buyer when selecting the various neighborhoods in Kelowna or the amenities they provide nearby; as a seller it is equally important to make sure you're getting the best price for your home.
I have done just about every real estate deal possible with Kelowna real estate alongside my clients. Majority of my clients are home buyers. But I also have helped my clients to purchase rental properties, commercial land and buildings, farms and even helped clients with purchasing rent to own properties. I have lots of experience in new home construction as well. I am also affiliated with an amazing group of realtors at Sage Executive Group Real Estate. We are not a franchise, but locally born and 60 plus members strong. I now enjoy helping my clients with all of their real estate needs.
I speak English and Punjabi fluently. My team is multi-lingual and have members that also speak Hindi and Mandarin .