The Buyers Series: How Well Do You Know Your Dream Home?

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As a first-time buyer, you’re probably excited to finally have a space of your own. However, being able to find your dream home is not as easy as it may seem. If you’re planning to live in your new home long-term, there are many factors you must consider before you make your purchasing decision. For example, where do you want to live? In Vancouver West alone, there are 10+ neighborhoods – ranging from Arbutus to Yaletown.

Fortunately, a great real estate agent will know exactly which questions to ask to find you the perfect place – but it’s still up to you to know the answers! To avoid being overwhelmed with search results, it’s a good idea to know what you want and filter accordingly. There are many possible features for a home to have, so it’s important to think thoroughly about what you want.

Below are 5 key questions to ask yourself:

1. How do my finances look?

Purchasing a home is a big financial commitment. In order to avoid unwanted surprises later on, have an honest look at your finances now. What’s your income? Do you have any debt? How is your credit history? How much do you have in your savings? If you’re serious about purchasing a property, it is also a good idea to get pre-approved. Reach out to us if you’d like to be recommended a mortgage specialist.

2. Where do I want to live?

What neighborhoods do you want to consider? Is it important to be near schools, shopping centres, recreation facilities, or other amenities? Will you require proximity to public transportation? How long does it take to commute to work? Remember, location is a fixed feature, so make sure that your neighborhood of preference is somewhere you imagine yourself long-term.

3. What type of home do I want?

What style of home is best for you? It could be a detached, a semi-detached, a bungalow, a split-level, a two-storey, a duplex, a townhouse — the options are endless! You may also want to consider your ideal lot size and the age of the home.

4. What are my must-haves?

What are the most important features for you in a home? A basement? A garage? A pool or a fireplace? How many bathrooms? Bedrooms? Do you have family members with special needs? And if you’re planning to do renovations, is it something that can be easily done with the current layout?

5. What are my deal-breakers?

What do you absolutely not want in a home? Are you opposed to maintaining a pool or a backyard? Are you opposed to living next to a busy street? Try to focus on features that cannot be easily altered, since these deal-breakers may affect your long-term goals for your property. 

Feeling a bit overwhelmed? Feel free to reach out to us! With years of experience in Vancouver real estate, and a team of four knowledgeable REALTORS®, we are confident that we can answer any questions you may have.