Don’t buy a home with a listing agent! Did you know that the listing agent has a contractual obligation to the owner of that home? The contract states, among other things, that they will do everything in their power to get the seller the best possible price. So ask yourself this, how can a listing agent negotiate the best price for you while at the same time getting the best price for their seller? Guess what....they cant! Make sure when you buy your next home use a buyer representative that has your best interest in mind and who can get you the best price! Start your home search here and give us a call for buyer representation. 604-561-3306 CALL COLIN 

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There’s no doubt about it; purchasing a home may be your largest and most valuable investment. But before purchasing or selling a home, it’s important to know whether it is in fact a good investment. The best way to protect yourself is to conduct a home inspection prior to purchasing or selling a home.

The first step for homeowners and buyers is to know what the current condition of the home is in, and whether or not repairs may be needed. There are many hidden flaws and safety hazards lurking around the home that only professional home inspectors can detect. A qualified home inspector examines the home in its entirety and can ultimately help you make an informed decision. Such decisions can help protect homeowners from buying a less valuable home, or provide the confidence to move forward and purchase the home.

In order to best protect your valuable investment, there are a few services to look for when hiring a home inspector:

Due Diligence
A home inspector must be due diligent. They must want to reduce a homeowner’s risk when it comes to any unexpected costs. A home inspector’s number one priority when examining a home should be to protect the family’s safety.

Confident & Stress Free Investment Decision
A home inspector must be able to help homeowners or purchasers make a confident investment decision. This can be done by providing a wealth of knowledge and information about the home. By providing the necessary information regarding the home’s safety hazards, you can eliminate any surprises and make an informed decision.

Unbiased Reporting
An objective opinion will reveal the good and the bad regarding the condition of your home. With unbiased reporting and integrity, a home inspector will be able to offer professional opinions on the problems detected, identify any needed repairs and provide insight into proper maintenance for the future. The best way to receive unbiased reporting is to find home inspectors that are accredited members with an association, such as the Canadian Association of Home & Property Inspectors (CAHPI BC), Consumer Protection of BC (CPBC), and the Better Business Bureau as a BBB Accredited Business.

At Zegarra Home Inspections, we believe in protecting the consumer, whether it be a homeowner or a home buyer. This is why we offer all the necessary services we mentioned above. Learn how Zegarra Home Inspections can help protect your property investment and preserve the safety of your family – Call us today!

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Many rookies homebuyers make mistakes.

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Read: Homebuying takes plenty of homework

And the majority of past buyers—when asked about their first house purchases in a TD survey from August 2012—said there were three things they would have done differently:

  • More than half would have put together a more thorough budget that included all possible costs of home ownership (60%)
  • The majority would have increased their down payments to 20% of the home’s value (60%)
  • Many would have bought sooner (55%)

Read: Helping first time homebuyers

Before clients jump into the process, however, help them decide if the time is right. The survey finds the top reasons people decide to buy are because they’re sick of paying rent (48%), they get a full-time job (31%) or they want to start a family (31%).

And prior to considering a home, most new buyers will have bought cars (58%) and possibly attended colleges or universities (19%). A small minority (6%) will also have paid for weddings.

In fact, while Carney has spotlighted mortgage debt as Canada’s number one enemy, long-term car loans are also gaining in popularity. The use of major loans to purchase new vehicles is skyrocketing, reportsthe Globe and Mail, as Canadians look for ways to cut monthly car payments.

These loans often take more than six years to pay off, but are gaining ground due to lower incomes and higher mortgages.

So, how can you help clients meet all these financial demands, while helping them make larger down payments? Turns out, saving for a bigger down payment may not take as long as expected, says the survey.

Read: Canadian real estate at a tipping point

While some customers save for 5% down payments, it’s smarter to aim higher; a down payment of 10%-to-20% takes 1-to-4 years to save up for (66%), and 25% or more takes at least three years (61%).

HOME BUYING TIPS

Smart home hunting starts with budgeting for any hidden costs of buying and owning. Almost a third of buyers don’t do that.

Read: Home ownership costs rising

Advisors should also help their clients create realistic pictures of all future monthly expenses—including all bills and costs, rather than just home-related expenditures.

This will not only help them decide on the right mortgage term and repayment plan, but also ensure they can make ends meet once the purchase has gone through, says Farhaneh Haque, director of mortgage advice for TD Canada Trust.

More importantly, more than half of rookie buyers (55%) are worried about how rising interest rates will affect their mortgages. If your clients are on a tight budget today, Haque recommends you warn them about the possible dangers of a variable interest rate mortgage. They might want to lock in at a fixed rate if market volatility makes them nervous.

Read: Don’t rely on home equity in retirement

http://www.advisor.ca/news/industry-news/rookie-mistakes-of-homebuyers-86429

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