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Buying a home in Victoria, BC

For most people, your home is the biggest purchase you will make in your life.  

There are a few actions you can take to set yourself up for success when navigating the market. 

Connect with your bank and/or mortgage broker 

Our best first step is connecting with a mortgage broker or mortgage specialist to get a clear idea of your price range. 

A mortgage broker is an independent contractor who works with various mortgage lenders, whereas a mortgage specialist is employed by a bank and works to secure you a mortgage with the bank as your lender. 

Either one can provide you with a mortgage pre-approval so that you have a clear understanding of what you can afford. 

Now, because mortgages vary based on the unique characteristics of each property, a pre-approval amount is not guaranteed; however, it will be the most reliable indicator that we are looking for homes within your budget. 

Your bank or mortgage broker can also provide a rate hold for 120 days; that way, if the home buying process takes longer than expected, you have the added comfort of knowing that your mortgage rate is protected for four months. 

Establish your non-negotiables and define your goals with homeownership 

Next, we want to make a list of your non-negotiables, as well as a list of your overall preferences. This process will set the parameters for your search so that you can compare properties that meet your non-negotiables but may vary on the other features that you would like. 

We’ll also want to consider your goals with home ownership. Is this your first home? An investment property? How will this home support your lifestyle? 

Your preferences may change once you begin viewing potential homes, that is a part of the process! However, having a clear understanding of what is most important to you will help us strategize our search and ground our decision making.

Find the right real estate agent for you 

Interviewing a real estate agent before committing to their services will give you an opportunity to learn more about their communication style, knowledge, and experience. 

The home buying process has its ups and downs, and having the right Realtor by your side can make all the difference. 

Our job as real estate professionals is to guide you through the process and provide you with the information you need to achieve the best possible outcome–from the first day we meet to when you get the keys to your new home. 

Download our Buyer’s Guide 

We have designed our Buyer’s Guide to provide a comprehensive outline of the homebuying process and the steps that you can take to set yourself up for success, whether you are looking to purchase your first home or you are an experienced buyer. 

From here, we can discuss the unique challenges and opportunities that every home and neighbourhood presents and tailor a winning approach for your goals.

Thank you for being here,

Alex Hughes* and Ricki-Lee Jewell, Victoria, BC Real Estate Agents

*Personal Real Estate Corporation

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