Vancouver Property Buying Guide: What You Need to Know

There’s nothing as exciting as getting ready to buy a home, but you must get to know a city before you start shopping in it. Although Vancouver is one of the most amazing cities on Earth, it’s not necessarily the most affordable.

This is everything you should know about buying a house in Vancouver and why it matters.

This Is the Most Expensive City in Canada

Of course, it faces off against Toronto for this title every single year, but Vancouver has been reigning as the most expensive city in Canada for years now. The price of homes continues to rise, which means what’s already expensive is just growing higher and higher.

On the bright side, the pay here is higher than the national average, so if you’re struggling to afford many of the homes for sale in Vancouver, the increased higher income might be just what you need to get you to the finish line.

There’s Limited Land to Build New Homes

Vancouver is uniquely situated between open water and a mountain range, making it can spread into a limited amount. Unfortunately, construction has slowed, and it’s becoming increasingly difficult for people to find space to build a new home.

This causes all homes to increase in value since more people are still constantly moving to Vancouver, even though there aren’t new homes popping up at the same rate.

Ensure You Get a Great Inspection

Your home’s inspection matters. You mustn’t just jump on a property because it’s available. Instead, wait until you can make a better decision and ensure that you can get an inspection that will let you know the extent of what the home needs.

Although legally, the owners can’t hide anything hazardous to you, sometimes things might not be noticeable if you don’t have a professional looking at it.

Don’t Be Afraid to Bargain With Sellers.

Although the market is highly competitive and full of motivated buyers, you shouldn’t fear bargaining with them!

Instead, let them know what you’ve found in your inspection or what you’d like included in the deal, and don’t back down out of desperation unless their counter-offer is good enough.

Pay Attention to Your Budget

Your budget matters because it affects how your finances will look for the next ten to thirty years. If you’re unsure if you can afford a home, think about how it will look in the long term.

If this is the first time you’ve bought a home, don’t be afraid to ask for government assistance while looking at homes for sale in Vancouver. Many first-time homebuyers are eligible for a grant from the Canadian government that will cover their downpayment to some degree.

Vancouver Is Gorgeous if You Can Afford It.

If you have the budget for it and know how to bargain and talk numbers: Vancouver can be paradise on Earth. Shop carefully, get your home carefully combed over by a professional, and pay attention to timing. You deserve an awesome house, so don’t let Vancouver go until you’ve found your perfect place!