Buyers Tips

Purchasing real estate can be a stressful experience, even in the small city of Penticton. Chances are you will experience a roller coaster of emotions while finding the right place, securing the loan, and finally moving in. For most of us, the first time home purchase is the largest investment we’ve ever considered. The emotions of purchasing something so expensive and personal can often cloud our business judgment.

Picture the Property Vacant

It is going to be your  furniture and decor that will be the ones filling the new home.  Don’t get sold on the place because it is filled with lovely furniture as all of it will be leaving with the owner.

Your Income + Your Lifestyle = Your Mortgage Payment

Have a meeting with your Licensed Penticton Realtor so you can have a frank discussion about your income level and living expenses.  You will have to consider your children,  renovations, and what you have planned for the future. While your home is worth a certain amount of sacrifice you do not want to mortgage your whole life.

Check Out a Fair Amount of Properties

View somewhere around nine properties (Give or take). You do not want to over think picking a property, but on the other hand you don’t want to purchase the first property you walk into. With your Penticton Real Estate Agent on the lookout for properties you should be able to visit enough of them that you get a feel for the real estate market. When you finally do choose the property you buy all of the searching will of been well worth it.

Put Together Your Team Of Pros

With the right Real Estate Agent on your side along with other professionals they can recommend  you will have an entire team working with you. Consider using a combination Realtor and Mortgage Broker who knows the real estate business inside and out.

Do Your Detective Work

Before you sign find out how much all the expenses will be such as property insurance, maintenance, utilities etc… And speaking of utilities  make sure they are turned on when you do your home inspections so you know if they are in working order or not. Don’t be afraid to ask lots of questions. You don’t want to miss any details.

Your Final Walk-through

After everything has been moved out of the home do an inspection to make sure that the property is being left precisely as you all agreed upon in the contract.  If you miss something at this point chances are you won’t notice later on.

Allow For Flexibility

Sometimes you need a back-up plan, and closing dates are one of those things you should give yourself some flexibility in. If the seller or yourself needs more time to finalize the deal don’t let this become frustrating. This is very common in home sales, and as long as you have planned for something like this in advance then it won’t be a big deal.

Get It In Writing

Any promises must be in writing. Do not assume or believe any promises. Best intentions can even be misinterpreted. Have your Realtor keep notes of any discussions and have the seller sign all agreements.

Being Upfront

Keep an honest open relationship with your team of professionals. You just want to make sure that every one is on the same page so that there is no delays that would keep you from getting into your new home. By taking the time right from the start to put together the right team the purchase of your property will be an exciting and wonderful experience.

Penticton Mortgage Broker Scott Bowland


Phone: 250-493-6040
Mobile: 250-462-2274
Fax: 1-866-534-9145

#101-301 Main Street, Penticton, British Columbia, V2A 5B7