Richmond condos

Buy a condo in vancouver

How Much Should You Budget For Expenses After Closing?

Buying a house is a very big step and a very large investment. You will need a down payment and money for closing costs but many people do not realize that there are other expenses associated with the purchase of a home after the closing period.

While these expenses can vary from one home purchaser to another, it is always a good idea to plan ahead so that your budget can cover all of the costs, and the following are a few aspects to keep in mind:

Moving costs

This will depend on the amount of stuff that you have as well as your timeline. If you need to rent storage, make sure you include this cost in your budget. You will then have to look at the costs of hiring a professional moving company versus doing it on your own and will have to determine which option would be best for you. Doing it yourself is not always cheaper because you will have to rent a truck and pay for gas, so be sure to keep this in mind.

Utilities

You will need electricity, natural gas, water, cable and internet as soon as you move in, so make sure to contact each of these service providers prior to your move-in date to get estimates. These services will start the day that you move into your new home, so make sure you are ready for the monthly bills that will arrive.

Household items

Most people need to purchase at least a few new items when they move into their new home, so set a budget aside for items like shower curtains, lightbulbs and hampers, for example. While these items are generally inexpensive, they can add up, so make sure you factor in these costs. You may also need a new vacuum or appliances, so the costs will vary based on your needs and the most important thing is that you are prepared for such expenses.

Window treatments

Some homes do not come with window treatments or you may dislike the existing ones if they do not match your personal style or taste. If this is the case, you will have to budget for new window treatments or replacements, and the costs will vary based on the size of the windows, the quality of your preferred materials and installation. Every home needs curtains, blinds or shades, so make sure you allocate a budget for these.

It’s hard to predict the exact amount that you should budget for expenses after closing because the number will vary dramatically but being prepared is extremely important.

Cherry Yeung Real Estate can help you find your perfect home and our real estate agents will guide you every step of the way. Whether you are looking for houses for sale in the Richmond area, want to buy a condo in Vancouver or need a realtor in the Burnaby area, we can help, so give us a call today!

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Appropriate (And Unreasonable) Inspection Repair Requests

A home inspection contingency is included in most offers because it is a very important step that will alert a buyer about serious problems like broken appliances or cracks in the foundation. The results of this report can help you determine your next steps with the seller and will confirm whether or not you want to proceed with the purchase.

If you’ve never been through this process, you may be unfamiliar with the requests that are appropriate, as well as the ones that are unreasonable. Generally, safety issues are considered legitimate negotiable repairs, as are problems with non-functioning systems. Any structural defects or serious hazards are also legitimate reasons to be concerned and such problems need to be considered carefully because they can cause you to back out of the contract.

Issues that have already been disclosed and minor nickel-and-dime requests, on the other hand, can lead to ill will on the seller’s behalf and may affect their decision to close the transaction. If you are determined to close the deal, it is generally recommended that you pass on the following requests:

Normal wear and tear

This includes some scratches on the hardwood flooring and chipped paint, to name a couple of examples. Cosmetic defects are very normal and most homes will have these issues. Sellers will not want to negotiate on these minor flaws, especially if they were visible when you made the offer.

Minor repairs

You will have to compromise in some aspects and focusing on big-picture items is far more important than worrying about small and inexpensive repairs. As a buyer, it would be ideal to get the seller to fix every little repair but this can affect their willingness to sell.

Smoke and carbon monoxide detectors

This should not be an issue because you don’t want to settle for cheap replacements in the first place and can shop and install a system that meets all of your long-term preferences once you close the deal and move in. This way, you will have peace of mind knowing you chose the system that’s in place and that it satisfies your preferences.

Landscaping changes

You may not love the unevenness of the walkway bricks or some of the plants but it is unreasonable to ask or expect the sellers to make these modifications. These are issues that were likely visible when you toured the home and requesting changes will probably irritate the sellers.

Your real estate agent will provide you with more information regarding the inspection process and the realtors at Cherry Yeung Real Estate will guide you through it. We will ensure all of the important issues are taken care of and will tell you which requests to leave out. Whether you want to buy a condo in Vancouver, need a realtor in the Burnaby region or are looking for houses that are for sale in the Richmond area, we can help, so give our office a call now!

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How Do You Pick A Home Inspector?

A home inspector will tell you if there is anything concerning a house you may be interested in purchasing by assessing the property to see if there are any issues related to it. Depending on their findings, the results can affect the purchase because potential buyers do not want to invest in a home that is falling apart.

As it is a very important job that will determine your future and affect the biggest investment of your life, you need to make sure you hire a reputable, knowledgeable and skilled home inspector so that you can receive accurate information regarding the home and any problems it may have.

Choosing a home inspector is not easy because anyone can claim to be in that industry, so don’t let fancy business cards fool you as there are no set rules or regulations as to what exactly a home inspector is required to do. This is problematic because potential home buyers hire this person to inspect the house they are interested in so they can come back and present them with facts in regard to any issues the home may present. As there are no prerequisites or specific education required for this position, it can be difficult to hire a home inspector who is familiar with the plumbing aspects, electrical issues and gas components, just to name a few. These are all individual professions that require extensive training and courses, along with years of apprenticeship to gain the skills and knowledge necessary for each job and a home inspector may not have any of these skills because it is not a requirement. This is why picking a qualified home inspector is tricky as many of them don’t actually have the right training to qualify for the position they are holding.

Asking your realtor is the best place to start because if they have the right experience, they should have trustworthy contacts they refer their clients to. If you’re happy with your real estate agent and trust their opinions, ask them about this topic and see which company or individual they would recommend because they will usually have at least one home inspector they prefer who does the job successfully.

Word of mouth is a powerful tool, so if your family or friends suggest a specific company, you should consider this option too as qualified home inspectors can be hard to find. If people you know and trust were happy with the services they received, their recommendation is definitely something to look into as this will help your selection process tremendously.

If you want a real estate agent you can trust, contact Cherry Yeung Real Estate today. Whether you want to buy a condo or are interested in houses for sale in the Vancouver, Burnaby or Richmond areas, one of their experienced and professional realtors can help, so give them a call now and they’ll take care of every aspect!

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