Lessons learned from Canada’s real estate trenches

Diane Nice from the Globe and Mail summarizes a 4-part series on Buyers Diaries.

Week 1: House hunters not impressed by what a hefty price tag gets Week 2: DIY mistakes a turn-off for house hunters Week 3: The dirty tricks sellers play to push up real estate prices Week 4: Lessons learned from Canada’s real estate trenches 

Buyers blogged from Toronto, Winnipeg, and Burnaby about their month long experience.  Interesting challenges emerged from each city, however, the common underlining theme was disappointment and discouragement.

Buying a home is supposed to be a pinnacle point in your life; The transition from renter to owner, family upgrade, rewarding oneself for personal achievements or going through a necessary life adjustment.

In all cases, you need support. Connect with experts that can make it the process the way you need and want.  Understandably, there are fears and insecurities to the transition and the costs associated with buying, but that’s why building a team can help you make the right decisions and improve the likelihood of an enjoyable experience.

Find a Realtor that you like and trust.   They are your personal shopper, so make sure you like what they are doing for you, if not, get a new one.  There are 18,000 Realtors in the lower mainland, only a few are really good at what they do.

Find a Mortgage professional to review your mortgage options and see if there are other considerations to explore.  If you provide the financial details, your mortgage professional should be able to provide you with a few alternatives that can work for you.

Lastly (which should actually precede all others), consider spending some time with a financial planner to create a plan.  A plan that fits with your life goals and determines a strategy for owning, investing and budgeting accordingly.