Tips for Home Buyers: Finding the “Perfect” Home

23.09.2013

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Looking for The Perfect Home for Sale in Kitsilano

In the current real estate market in Kitsilano (and Vancouver as a whole), we’re seeing a lot of multiple offers on great entry level 1 bedroom condos (you know the ones – great outdoor space, nice floor plans, desirable buildings, etc.) and also detached family homes in greats areas (in Kitsilano, surrounding Main St & in Mount Pleasant). These high levels of interest mean that you’re competing with other Buyers when it comes to submitting offers and having your offer to purchase the Kitsilano House for Sale accepted.

When push comes to shove, and you have to make a quick decision to buy the Kitsilano home for sale that has a lot of other potential Buyers, many people may make the emotional decision to go over their budget to secure what they call “the perfect home” when instead they should have made compromises on what they can truly expect in a home given their budget. As a realtor who keeps one eye firmly on the market, I can give you a good sense of what you should expect given your budget – based on current homes for sale, recent sales and market trends.

The Fall market typically sees many more interested home buyers and more inventory to choose from. To do well in a busy real estate market, you have to understand that compromises will have to be made – maybe on area, maybe on size, and maybe on style (see my previous blog about Looking Above and Below your Price Range).  Always remember that purchasing a home is both an emotional process and an analytical process. In order to avoid disappointment and months spent searching for real estate, understand your expectations of needs and wants, and what you can expect in typical houses. Keep in mind many aspects of a house can change fairly easily (paint colours, flooring, furniture, lighting) vs things that would require much more time and money (floor plans, kitchens and basements). The home doesn’t have a front loading washer and dryer? Not something to fuss over. If the home is sinking, you’ll want to re-consider your interest.

What to Expect when looking for Your Perfect Home

The best way to look at real estate is that nothing is perfect! What the problems are and how they can be fixed is what you should focus on. As a realtor I’ve been through many inspections, and have yet to see the final inspection report describe a home as perfection. Most problems found in home inspections (or detailed by the Seller in the Property Disclosure Statement) are easy to fix or relate to improving your homes efficiency and performance (i.e. more caulking here, an electrical outlet to be fixed there).

Homes may have some problems that seem daunting, but aren’t so bad if you consider the cost to fix it in your budget. Big appliances that need replacing, or major repairs to the bones of your home may cost you some money down the road, but they’ll also add value to your home and may give you the opportunity to personalize the space to your liking. Though, if considering taking on a big renovation project, talk to your realtor first to give you an idea on timelines, prices, contractors and expectations.

Getting your Perfect Home

So, when you’re buying a home in Kitsilano, think about setting aside some extra money for repairs and personal preference updates so that a slightly imperfect home can reach your expectations.

Other advice I can offer you is to stay on top of the Vancouver Real Estate market with our personalized email service! Your “Perfect Home” is probably someone else’s idea of the perfect home, so it’ll sell a lot quicker and you need to be ready to move (literally!). Asking us to set up viewings for a house you like is imperative, as well as getting all parties involved in purchasing the house (significant others, kids or parents) to view the house as soon as possible is good too. Also, if you really like a home, tell us! We’ll be able to keep tabs on it (whether or not it’s getting any other offers, when we can view it, etc.) and we’ll get a better sense of what you really want in a home so when a good ones does come up, you’ll know as soon as possible!

Let me know what you’re looking for, and I’ll send you listings as soon as they’re online, or sign up for my Private Client Services (PCS), so you can see the listings as soon as they’re online and refer back to them again and again.

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