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This is the first post in a series of tips for First Time Home Buyers in Vancouver’s property market.
So you’re thinking of taking the plunge and buying your first home in beautiful Vancouver!
How much can I spend? Get Pre-Approved!
If you have several hundred thousand dollars in your bank account, great!
If not, you should speak to your bank or a mortgage broker to find out how large of a mortgage you can get. The bank or broker will give you a mortgage pre-approval which is a rough estimation of what you can borrow. This mortgage pre-approval is based on the information you provide the bank or mortgage broker. Remember, the more accurate and detailed the information you provide, the more accurate the pre-approval amount!
Here’s a list of mortgage brokers who can help you with a mortgage pre-approval:
Chad Watts 7787736631 cwatts@mortgagegrp.com
Rino Revel 604) 816-1976 rinorev@telus.net
Mandeep Jhutee 6045169406 mjhutee@hotmail.com
Jessi Johnson (604) 716-6474 jessi@jessijohnson.com
Now that you know what you can spend, its time to figure what that money can buy. Be sure to Check out Episode 2 of the Vancouver First Time Home Buyers Guide – Where to Buy!
If you have any questions, feel free to contact me at any time!
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Great advice Mike … I’ve often wondered how 1st time buyers get into a market such as yours. Must be hard to find affordable properties that don’t need a ton spent on them once they buy.
Hi Dave,
Good to hear from you! Thanks for the kind words.
How are things in Ontario?
The weather here is getting better and the daffodils are up!
The market here can be tough for first time home buyers re: affordability.
Most people out here start with condos and work their way up to houses as they need them. The nice thing about a condo, is that a well managed/maintained/built one shouldn’t need work or at least you won’t have to do the work.
Do first time buyers start with condos in your market or are they able to buy houses?
Speak soon!
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Great advice, Mike. Keep up the awesome videos.
Hi VyTri!
Good to hear from you!
Thanks for the kind words! Looking forward to seeing more from you!
Thanks,
M
[...] gone to the bank or met with your mortgage broker and you’ve been pre-approved as we discussed in Episode 1 of First Time Home Buyers Guide Vancouver. Now you know what you can spend, now you need to decide where you want to [...]
This video is worth watching. I was able to get some tips on how to buy a home in Vancouver.
Good Post,,Nice information it will help to all a lot..Keep sharing..