Buying a Townhouse in Vancouver: How to Streamline the Process
Purchasing a townhouse in Vancouver—or anywhere else is a big investment. Besides the time spent trying to find the perfect property, real estate is one of the biggest lifetime investments many people will make.
For property virgins, the buying process, whether it’s a house, condo, or townhouse can seem mysterious and overwhelming. This is where finding the right realtor in Vancouver comes into play.
Townhouses are condos exist in their own special category as properties, so working with someone who understands the ins-and-outs of strata properties as well as how the management counsels operate will be able to offer better insight and advice when investing.
One of the biggest factors before jumping into homeownership is budget. What can you afford? Will there be enough for maintenance and upkeep? What are the risks? Condos and townhouses appeal to first-time buyers because many of the expenses and risks are shared. It is an excellent stepping stone for becoming acquainted with the needs and challenges of homeownership.
A townhouse realtor in Vancouver will be able to provide many insights. For example, which neighborhoods will best suit your budget and expectations? They will also help to craft and present an offer that protects your interests, and streamline the timely completion of important paperwork, while explaining any clauses that would potentially impact you.
Working with a Townhouse Realtor
A realtor will provide may insights and services to streamline the process of locating and purchasing the right property.
- Presenting the properties that fit your needs and budget
- Performing background checks on potential purchases
- Explaining market value to prevent over-paying
- Arranging appointments to view available properties
- Providing professional contacts for financing options and other services
- Answering questions related to specific properties
- Drafting an offer, with beneficial subjects and agreements
- Reviewing documentation to protect your interests
- Negotiating on your behalf when necessary
- Facilitating a smooth and quick completion
One of the most challenging aspects of the buying process is financing. While selling costs for the real estate agent are looked after by the seller, you still to look after the down payment
In BC, the rules are 5% for properties for the portion of the purchase price under $500,000, 10% of the portion of the price above $500,000, and 20% on the purchase price for properties valued over $1,000,000.
A realtor will be able to provide some insight on how to secure a down payment. For example, RSVP withdrawals of up to $25,000 per borrower may be put towards a down payment. However, these funds have to be repaid within 15 years.
An experienced realtor will not only work with you to understand total costs, including closing costs, they can help bring attention to rebates and exemptions that can save you money. With the right realtor, the process of buying a home becomes streamlined and smooth. They’ll work to help you leverage your budget, which is a worthwhile investment in a market like Vancouver!
Working with Ariane Benjamin
As an experienced townhouse realtor, Ariane Benjamin focusses on the purchase and sales of townhouses in Vancouver Proper. Her one-on-one approach exemplifies a customer-first attitude, allowing her to deliver greater results and value while coordinating swift, smooth transactions. Ready to discuss buying or selling? Schedule a complimentary consultation to get the insight necessary to make the best decisions. Call (604) 779-1500 to get started.