You Should NOT Buy a Home when…

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!