You Should NOT Buy a Home when…
Posted December 28th, 2007 in Real Estate, Real Estate Stuff | 
It’s not always rose petals in our business. Sometimes as a realtor, you just have to be nasty. It’s not pretty doing this but then again, if you give a damn, you have to be brutal. Many opinions exist on the benefits of owning real estate in Vancouver. Much of the ad-copy is grand and eloquent. But as sunshine turns to darkness, so too can buying a home become a negative experience.
Here are some basics.
Money Matters
If you don’t have enough money saved for:
- the down payment – think 26% of the purchase price
- closing costs including property transfer taxes
- an unforeseen contingency i.e., failing appliances,new lawnmower
- replacement cost insurance
- regular maintenance
Don’t buy!
If you are New to the Area:
- it’s better to rent and have time to figure out which neighborhood, schools, civic amenities best suite you. Do your research, ask friends, co-workers, your realtor, check the net. Take time to reflect on your needs.
Don’t buy!
If you are uncertain about your job – remember there are no guarantees
- promotion – better to wait until you know – the promotion could mean you are moving again
- restructuring of the company – your position may cease to exist – still thinking about buying -fugettaboutit
- recent graduate – too early go have some fun first
Don’t buy!
If you got Life Issues
- just married – wait a couple of years for your marriage committment to build before you get into a mortgage committment
- unmarried couple – relationships change quickly, the undoing can be expensive
- family turmoil – STOP! How is the added stress of buying a house going lessen the underlying problem. Resolve the turmoil first
Don’t buy!
