- by Ken Newington, Windermere Sea to Sky Real Estate, Squamish -

For many people, buying a home will be the most important investment of their lives. The effort of finding and purchasing a home can be somewhat daunting. In the end, the process involves making serious decisions about money, lifestyle and commitment. Here are some basic pointers for the uninitiated.

Get yourself pre-qualified financially:    

• Pay a visit to your mortgage broker or financial institution and have a straight forward discussion about your current finances and your goals in real estate. This is your first step in building a team of professionals to assist you in this process. Remember, basic information is free.
• Be wary of any fees that are charged in advance of any transaction. If you find out, in advance, what you can afford you will save yourself much disappointment and wasted time later.

Determine your priorities:

• What aspects of a home are most important to you? Consider things such as affordability, maintenance, floor plan, neighborhood and resale potential.
• Avoid getting hung up on minor details such as colour, fixtures or window coverings. You will most likely own a few homes in your lifetime and you will find that your priorities and tastes will change along with your budget.

Find a Realtor who is knowledgeable and has a reputation for service:

Interview your Realtor while he or she is interviewing you. Make him answer a few questions too!

• Is he available on short notice (pager)?
• Does he show all suitable listings or just his own company's?
• Do you feel comfortable with this person? Does he listen carefully to you and seem to understand your goals and aspirations?
• Do you get the feeling that this person is working for you? Trust your instincts.
• Finally, when you do find some one you feel comfortable with, communicate openly with him. Your Realtor will be able do the best job for you if you keep him well informed.

Establish a time frame:

• Give yourself and your team some goals. Don't rush, but don't be afraid to make decisions once you are well informed.

Home inspection:

• If anyone advises you against a proper presale inspection, kick them off the team! Some buyers spend more time looking for a suit than they do purchasing a home. Don't be one of them!
• Property Condition Disclosure Statements and New Home Warranty programs do offer a significant amount of protection. But, in the end it's still "buyer beware".
• There are several qualified home inspection companies that charge $250 - 300 for a thorough and detailed home inspection.

Shop for your financing:

• In today's market the banks and mortgage brokers are very competitive. Your Realtor should be able to tell you what the most competitive rates are. Why pay more? Even if you're pre-qualified, check their rates against the current market. In today's "buyer's market" the good opportunities are out there and financing is readily available... who's that knocking?