You’ve decided that it’s the right time to buy a new home. Whether it’s your first purchase or you’re an experienced buyer, there are a few things you should get in order before you walk into your first open house. Remember, in the fast-moving Vancouver real estate market, if you find that special property that feels like home, you want to be able to move on the opportunity right away.

Why are you moving?
First things first. What are your priorities? Are you moving to an area closer to work so that your commute is easier, or are you trying to find a peaceful setting where you can relax after a hard day at the office? Are you looking for a great school catchment area for your growing family? Do you want more space, or are you downsizing for a change in lifestyle? Clearly outlining your priorities will help you inform your real estate agent and financial advisors, and save you time in the long run.

Are you ready to buy?
Now that you’ve decided on your priorities, it’s time to sort out the logistics and assemble your team. Aside from a real estate agent (we’ll get to that) you’ll need to engage the following professionals:

• a mortgage broker or lender
• a notary or lawyer
• a home inspector and/or surveyor
• an insurance company
• If you’re selling a home as well, you’ll need a professional appraiser.

The most important first step is to determine how much money you can (or want to) spend on your new home. Working with a trustworthy mortgage broker can help you find the best deal for you and your family. There will be additional costs above and beyond the price of the property, so it’s important that you plan carefully. Your broker or lender will often recommend reputable notaries and inspectors, and will help you obtain mortgage insurance.

Find a buyer’s agent
Many first-time buyers make the mistake of heading out on their own to look for properties. A buyer’s agent can save you a lot of time and hassle, help you do your research and narrow down your options, and alert you to new opportunities before they hit the open market. A buyer’s agent legally represents you and your interests in securing the best price, and ensuring a smooth transaction.

When hiring an agent, ask your family or friends for referrals. Do your research! Find out where an agent’s expertise lies, what neighbourhoods they know best, and how successful they have been. Ask them what their negotiation strategy is, and how it might work for you.

Get the details right
Your next step is to explore your options. What features do you want from a home? What features do you need? What neighbourhoods meet your needs, and the interests of your family? Do you want to live close enough so that friends and family visit often (or not at all)? Do you need to be within walking distance to a school? What’s the most important room in the house, for you? It’s important to view as many houses as possible with your agent to narrow down your interests and priorities.

When viewing, check for properly working appliances and fixtures. Look at maintenance costs. Find out if appliances or new additions are covered by warranties. Find out what the costs will be for upgrades or changes to the structure. If you want to knock through a wall, add a washroom or renovate a kitchen, get an estimate before you buy so that you know what you are getting into.