Get a glimpse on the upcoming pre-sale homes, floor plans and pricing over Greater Vancouver.
Pre-sale projects list
- Gryphon Nova
- Hawksley
- Kitsilano Block
- Park & Maven
- Precidia
- Rose Garden
- Band by Townline
PRE-SALE PROJECTS
Buy a condo in vancouver
Things to keep in mind when making a lowball offer
Making a lowball offer can be quite tricky. There can be many considerations that are important to ensure that your lowball offer is not completely unrealistic. Here are some factors you need to consider:
1. Market knowledge
Depending on whether it is a buyer’s market or the seller’s market, you may or may not have competition or negotiating power. Generally, in a seller’s market, homes are in demand, and you are less likely to win a lower negotiation bid. In the buyer’s market, your chances of winning a lower bid are much higher. It is necessary to account market conditions when trying to anticipate a winning bid. Have your agent do a comparative analysis to get an insight into what other homes have been sold in that area and for what price.
2. Duration of listing
It is important to consider how long has the home been listed in the market. Keep an eye out on the listings, and you may notice that a particular listing keeps appearing on your feed for a long time, chances are that the owner may get desperate to get rid of the property quickly even at a lower price. Of course, before finalizing an offer make sure to get the home inspected to rule out any damages or problems.
3. Lucrative clean offer in lieu of a low bid
If you have a reason to believe that a seller may be quite eager to sell quickly, consider making a clean offer. Although the seller most likely feels that their home is getting sold for too less of a price, removing conditions like financing clauses will help you gain mileage.
Having a pre-approved mortgage in place before you start shopping can establish a cleaner and easier transaction from many perspectives. For starters, you may already know what your financial capability is and can bid accordingly without looking for a property that is too low or too high on the price. As a seller, it will be quite easy in making a decision if your buyer has a pre-approved mortgage that establishes their buying prowess.
4. Understanding the seller
Knowing a seller’s perspective goes a long way in buying the right property. Understand the seller’s reasons for listing their home. This can help you to formulate a strategy when placing an offer. For instance, if the owner is selling the property to move to a bigger place due to a job change or addition to the family, they may be quite eager to get the property out of their way and can be lured through a clean offer rather than just a low bid.
5. Be fair
As a buyer, it is important for you to know the lower limits for a property. You may want to avoid offending the seller or the listing agent by proposing a totally unreasonable offer. Bear in mind that every seller wants a fair earning, just like every buyer wants a great deal on the home. Be professional and conscious about it and avoid wasting everyone’s time with an unrealistic offer that can’t be accepted. Always regard the market conditions, seller’s situation, home condition and the length of time the home has been on the market, along with other related aspects to come up with a reasonable and tenable price offer.
Knowing exactly what offer is tenable and what is not can be quite tricky. Real estate experts like Cherry Yeung can help you to come up with a realistic offer and give you a chance to find your dream home at a great price.
3 Ways To Get Your Credit Ready For Buying A Home
There are many ways to prepare when you purchase a new home but the most important thing is making sure that your credit is ready and stable. You want to be in a financially stable place when you are purchasing a new property. It will help you save money in the future from interest, and you won’t have to worry about paying thousands of dollars on your income bills every month. There are many ways to get your credit ready when you buy a new home, and some are easier than others. Remember that this will help you stay organized and responsible if you are moving for the first time.
- Always make sure to pay your bills on time. This will save you less time from having to speak with banks or financial advisors. Many people may see monthly payments as too much or something that they cannot handle; if this is the case, then you might want to pick up more hours at work or start a savings account.
- Always make sure to pay your bills on time. This will save you less time from having to speak with banks or financial advisors. Many people may see monthly payments as too much or something that they cannot handle; if this is the case, then you might want to pick up more hours at work or start a savings account.
- Always make sure to pay your bills on time. This will save you less time from having to speak with banks or financial advisors. Many people may see monthly payments as too much or something that they cannot handle; if this is the case, then you might want to pick up more hours at work or start a savings account.
There are many ways to get your credit ready when you plan on purchasing a new home, some of these tips can actually end up saving you tons of time and money in the future. Keeping perfect credit scores or history is not always going to be easy, that is why you should find people who will help you. If you are looking for real estate agents or condos in Burnaby, contact Cherry Yeung.
Tips Before You Buy a Condo
Buying a condo can be one of the most exciting purchases in your life, but keep in mind that it will be different than purchasing a single-family house. There are separate rules and regulations that apply to condos, and the life you will live in a condo is different than in other types of housing setups. This is why it’s important for you to have a good understanding of what you will be getting yourself into when you pick a condo over a house. These are the most important tips you should follow before you sign the purchase agreement for a condo.
Think About The Life That You Want
Condos are unique because they offer a different lifestyle than a traditional detached home. You won’t need to worry about doing any yard work, but you also won’t have access to a private backyard space for your pets or kids. Condos also come in many different shapes and sizes, so you should think about your needs and the life you want to live before you buy one.
Think about how you will be sharing walls, floors and ceilings with other people, as well as common areas. This can lead to neighbor noise that you might not want to listen to during the day or night. Most condo buildings are pretty insulated to prevent the noise from leaking out but older buildings might not be. Keep in mind that you will probably experience hallway noise in most condos.
Work With An Experienced Realtor In Condos
The process of buying a condo is different from buying a house, so it’s good to work with a real estate professional who has the experience and knows what they’re doing. This way, you won’t miss out on getting valuable expertise and information that is important for the deal and buying process. There are many other documents and issues you want to understand before you make your official condo decision. A realtor who has experience can be the greatest choice when going over this information.
Plus, a real estate agent who is familiar with all of the condos in your local area will know the problems any certain building will have and which ones don’t, so you are better able to choose a location that is safe and comfortable in the long term. Older condo buildings can be more problematic, but this is a matter of how well they are being taken care of. When buildings have good, reliable maintenance, then you are not likely to see a lot of issues with them, even if they are older. Don’t hesitate to hire a home inspector for your condo during the purchasing process.
Going for a brand new condo development can also present a number of different issues, especially if the builders cut corners while they constructed it. The company that manages the condo will also matter, and an experienced realtor will know what buildings you want to consider and which to avoid to reduce the chances of going through problems with your new home.
Are You Cut Out For A Condo?
If you’re interested in buying a condo, there are a few things you should know. The right information will help you determine whether or not this is the right move for you, so it’s important that you weigh the pros and cons of this option before agreeing to anything or signing any documents.
The following guide will help you decide if buying a condo is right for you:
Consider Maintenance Costs
One of the biggest advantages of a condo is that the unit is yours, but you’re not responsible for fixing anything. This means you are a property owner, but you can rely on someone else for repairs and maintenance because it’s not your concern when things fall apart. This does come at a price, of course, so you will have to pay a maintenance fee every month, but this will cover landscaping, roof issues, exterior paint, paving and much more. You will have to rely on the maintenance workers’ timelines for these repairs, and the fee is not cheap, so if you prefer shovelling yourself to save some money, a condo may not be for you.
Consider Condo Association Rules
These rules are in place to keep residents happy while keeping the building clean. Homeowners’ associations will make sure all common areas are clean and will ensure they are in good shape. You’ll also never have to worry about a neighbour playing loud music after a certain time, which is something you’ll appreciate. It is the homeowners association that will have control over landscaping changes or the colour of the building, and every resident will have to abide by these rules. Some people like this lack of control because they feel it is freeing, but others will struggle with this aspect because they’ll want to be in control, so this is something you have to think about before moving into a condo.
Consider The Community
Most condos have pools, tennis courts, gyms and common areas where residents can interact and make friends. Condo living often creates a sense of togetherness, so you will feel part of a community. If you are single or love social interaction, this is perfect for you, but if you love your privacy, condo living may not be ideal.
Consider Your Lifestyle
A high-rise lifestyle is different from what most people think, and you will have the convenience of elevators, so you won’t have to deal with stairs which can be frustrating. While this is great, you will still have to get your groceries and other belongings to your unit, and this can be a challenge for some, so this, too, is something you need to think about.
Whether you’re looking for a house or condo, Cherry Yeung can help. I have access to all of the houses and condos for sale in the Richmond, Burnaby and Vancouver areas and am an experienced real estate agent who cares about her clients. If you’re ready to buy a property and want to work with a reputable realtor, give me a call today!
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What’s waiting to Buy Costing You?
Buying a home is a very large investment, so most people wait for the right time to make this purchase. Saving for a bigger down payment makes sense because the more you put down, the less interest you will end up paying over the life of your loan, so many people wait and keep renting while they save. While this may sound like a good idea, the reality is that this situation could be costing you a lot more in the long run, so you need to weigh your options.
The only way to make the right choice is to run the numbers to see where you stand and how much money you are actually saving. You need to compare the cost of your monthly rental fee with the cost of ownership. The reason most people decide to wait is because a small down payment would require them to pay additional fees for mortgage loan insurance, which is mandatory if you are putting less than a certain percentage. As this amounts to a pretty large sum, most people choose to keep saving for a bigger down payment instead of having to double down on their down payment. This is not always a good idea because if you look closely at the numbers, you will see that waiting could actually end up costing you more in the long-term.
Wait And Save
There are two options you can consider. The first is to wait and save, or you can buy now with a smaller deposit. If you decide to wait, you have to remember that the real estate market is unpredictable and that prices go up every year, so the amount you save may not be enough for the property you want to buy in a few years from now. The prices of homes appreciate every year, so your savings may not be able to guide you through the 20% threshold that is required for a down payment. It’s also important to remember that when you are paying monthly rental fees, saving money can be hard because you will still be spending most of your pay on rent.
Buy now with a smaller deposit
If you buy a property now with a smaller deposit, you would have to pay the insurance fee that comes with the smaller deposit and more interest over the life of your mortgage, but you would be saving a hefty amount of money by not waiting until the home or condo is worth more, and in just a few years, you will have put down quite a bit of money in principle while avoiding paying all that money for rent.
If you want to buy a property, you should not always wait, and Cherry Yeung Real Estate can help. Our realtors will help you buy a condo and have access to all the houses for sale in the Richmond, Burnaby, and Vancouver areas. If you want to work with reputable real estate agents, give our office a call today!