Latest statistics say that a significantly large number of first-time property buyers are the millennials, and there is barely any room for doubt or ambiguity, as the Canadians who were born between the eighties and mid-nineties now account for a full 77% of first-time property owners.

Here are the most vital tips for first-time home buyers in Surrey (or wherever you may reside in Canada at present).

  • Prioritize your hunt for a house or condominium

April happens to be the hottest month for property transactions and as a first-time home buyer in Surrey (or whatever the place may be applicable), if you are to buy your dream home this spring, the time is now to apply for a few casual leaves for starting a full-scale property hunt.

  • Get pre-approved

As a first-time home buyer in Surrey (or wherever you may be residing presently), getting yourself pre-approved for a home loan substantiates that you are a serious client, saving ample time for you and also helping you to narrow the search process as you have defined your price range by now.

  • Search the surprisingly hot, new neighborhoods

The millennials are more sensitized about the pressing need for embracing a car-free lifestyle when compared to the average Canadian. Taking a note of the situation, many condominium builders have designed high-density community housing infrastructures to cater the ever-evolving requirements of the hardcore urbanites, that are strategically located near the illuminated biking trails and jogger’s paths, supermarkets, public transits, amenities like bike lockers, and pet-friendly green spaces. It is no surprise that the first-time home buyers in Surrey (or wherever you may be staying at present) are to be spoilt with a plethora of choices!

  • Try moving out of your town

Many first-time home buyers are ditching big metropolises for considerably smaller cities like Surrey that are experiencing the early strides of urban development. These emerging real estate markets offer fabulous deals, specifically on detached housing. For the born-and-raised, metro-sexual urbanites, these emerging landscapes can mean reasonably less amount of culture shock albeit at the cost of settling for the suburbs. These locations are known to offer a thriving retail and cultural scene, easy commute to the bigger urban hub, and extensive public transit most of the time.

  • Use social media to complement your offline research

Last but not the least, as one of the first-time home buyers in Surrey (or wherever you may stay presently), do not restrict your search to the MLS (multiple listing services) or property portals and consider reading the real estate blogs as well.
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Buying a home can be an overwhelming experience for first time home buyers in Surrey. Since it is the first time, home buyers tend to make mistakes. But the thing about buying a home is that even a small mistake can cost you big bucks. So here are some useful tips for home buyers in Surrey, following which will help them avoid financial disasters.


If you are a first time home buyer, there are a few preliminary things to take care of first. For example, the budget, the location of the property, mortgage etc. First, you need to determine what exactly you want. When you know that, it makes the overall process much smoother and there is less scope for any mistakes.


Make a Checklist Before Looking for a House for Sale in Surrey


Plan the budget first


Determining the budget is the first thing that you should before making any investment. If you know how much you can afford, then it saves you a lot of time. Or else you will go around looking at houses that are way beyond your range. Knowing the budget narrows down your options which causes less confusion while choosing a house in Surrey. If you are getting a mortgage, use a mortgage calculator to determine how much you need to pay monthly. See if you can afford that amount each month.


Think about the down payment


When you buy a house you need to make a down payment. Most make this mistake of paying a small amount. But it is a wrong move to try to save while making the down payment. What you need to understand is that a bigger down payment allows the buyer to get a smaller mortgage. That way, you get to enjoy affordable monthly payments. A proper down payment helps you to secure a monthly payment that will not weigh down on your finances.  


Costs for repair and renovation


The home that you buy might need some renovation of repair work. So, while deciding the budget you also need to keep in mind this particular cost factor. It will be best if you get the cost estimate from more than one contractor. That way you have options to choose from. You can get referrals from your real estate agent. They might have some good suggestions for you.


All first time home buyers in Surrey should keep these three points in mind before looking for a house for sale. If you are too confused with the real estate jargon, you can always hire a reliable real estate agent, to help you along the way.
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Investing in a residential property is a huge financial commitment. It’s a once in a lifetime decision for most of the people. That’s why you need to be extra cautious while making the decision. If you invest in the wrong property it can land you in a whole lot of financial trouble. One mistake and you may have to carry that burden for years to come. So, to avoid such financial disasters you need to hire a reliable real estate agent.


Why Do You Need a Reliable Real Estate Agent in Surrey?


Surrey has become a popular choice for property buyers. It has lots of options in different price ranges and type of properties. There are also many real estate agents in the market that are always eager to help you out to buy the perfect house. But while hiring one you need to stress on the fact that he/she should be reliable enough.


This quality is the prime requisite of a good and reputed real estate agent. The success of your property deal lays in the hand and capability of your agent. Since it is the matter involving a lot of money, it is advisable to take proper measures and chose the right agent for the job. Today’s real estate market is teeming with agents, all making promises and assuring you to get the best property. Separating the good ones from the bad ones is what makes the difference.


Follow These Steps to Choose a Reliable Real Estate Agent in Surrey


Buying property is a good future investment. But it can turn into a liability if you hire a bad real estate agent. Here are a few tips to follow while hiring a real estate agent.


SEARCH ONLINE

You can find your real estate agent online or through acquaintances. You need to do proper research first. Then make a list of all the potential candidates. Now fix an appointment with them to have a conversation. A face to face conversation will help you make the right decision.


CHECK FOR LICENSE AND CREDENTIALS

Make sure that your real estate agent has a proper license and is associated with a legal organization. A registered real estate agent is adept with all the property laws and works within the norms.


SPECIALIZATION

There are many real estate agents who have expertise and experience in a particular area. Before hiring one decide on what kind of property you want. Hire your real estate agent according to that.


GOOD COMMUNICATOR

Your real estate agent should be a good communicator. He\she needs to communicate not only with you but also with the seller. There should be a basic comfort level between you and your real estate agent. You should feel comfortable to speak your mind to your agent. Both should have a matching wavelength to crack the best property deal. What differentiates a good real estate agent from a bad one is his\her negotiating skills. Remember that your deal depends on the final negotiation. A good real estate agent strives to get you the best deal possible. It is also very important that your real estate agent is available to you at all times. An agent who is always busy is not a good choice.


If you are looking to buy to invest in real estate and new to the whole idea, then hopefully these guidelines will help you to hire a reliable real estate agent in Surrey.

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