Buying real estate in the Comox Valley
Comox Valley is a great place to call home and a good investment!
Property values continue to be very affordable compared with the lower mainland and Victoria markets. The demand for all types of real estate in the Comox Valley remains strong; as a result prices continue to rise. Property values increased throughout the Comox Valley in the last 12 months by an average of 12%. The median price for a detached home in September 2020 is approximately $620,000.
The Comox Valley real estate offerings are diverse and widespread. It is here that beautiful, seaside villas back on to fertile agricultural farmland and ski in-ski out accomodation is only a few minutes away.
The Comox Valley is shielded from many worldwide, economic peaks and valleys, resulting in stable real estate values for most sectors. There are several reasons for this, including:
Whatever reasons you may have for buying or selling real estate, you will see great value in my professional services. I have experience working with all kinds of real estate and have the tools and expertise to ensure that your buying experience is efficient, stress free and rewarding. I will guide you through the process and explain each step, so that you can be comfortable and confident with your decisions.
The Buying Process
Below is a brief summary of what Buyers should expect, and prepare for, in a Real Estate Transaction:
Step One: Narrowing your Focus
Your first step in buying a home or acquiring an investment property is to first ask yourself why you want to buy a home: To stop paying rent? To build equity? To have a place of your own? To raise a family? To retire? To update? For future earnings? Next, make a list of what kind of home you'd like and where you would like it to be. Be specific. Separate the "must haves" from the "want to haves."
Think of yourself as zeroing in on a target, going from the general to the specific. Consider the area (urban, suburban, farm or rural); community; neighbourhood (older and settled or sparkling new); a particular school zone; recreational facilities; other community services such as transportation, day care, library, stores, entertainment. Ask yourself questions regarding whether you want to commute or not, and what yard space and amenities are most important for you (and your family).
Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and type of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you expect to live in this particular home.
Always remember that home buying is most often a process of elimination...not selection.
Step Two: How Much Can You Afford?
Once you have addressed what you want to purchase, it is then important to determine how much you can afford to spend. For simple calculations visit my mortgage calculator. I strongly recommend you contact your bank or a mortgage broker to help you with this 'pre-qualification' process. I have provided a list of Comox Valley Mortgage Specialists to get started and feel free to contact me directly for more assistance. The valuable 'pre-approval' process can often be done within a day.
Step Three: Finding The Right Home For You
Once you have a general outline of the type of home or property you want and the desired price range, please contact me. I will update you on current market conditions and set you up with a customized search of all the MLS listings in the Comox Valley that fit your criteria. From there we will select properties of interest, obtain more information on them, and I will arrange to take you on a personal tour to view them. (Note: Most sellers require 24 hours notice to allow them time to prepare their homes).
Step Four: The Offer Process
I am an experienced and skilled negotiator that seamlessly tailors the most effective negotiation techniques for each given situation. I work hard to ensure my clients always get the best terms and conditions possible.
Once you have found the ideal property and/or home, I will prepare an offer for you, containing your desired terms and conditions, and present it to the sellers on your behalf. While some offers are agreed upon at the outset, and others are not replied to at all, it is most common for sellers to make a counter offer with their desired terms and dates. If this is the case, I will present you with their "counter" and provide you with advice and feedback to allow you to make informed decisions about agreeing or making a "counter" to their "counter". I will work with you throughout the process to ensure your best interests are served and hopefully an agreement is reached.
Step Five: The Due Diligence Stage
Once you have an accepted offer, it is time to do your due diligence to ensure the property meets your expectations and that your financing is finalized. Other common subject conditions are Title and Property Disclosure Statement review and acceptance, building inspection, site survey review and confirmation the property can be insured. There are also a multitude of other conditions which may form part of the contract. I will guide you through this process, working with you through each stage to make sure you get all of the facts and information you need to be comfortable with your transaction.
Step Six: The Completion Process
Once you have finished the due diligence process and removed the subject clauses, it is time to prepare to complete your purchase. Again, I will be at your side during this last stage of the process to ensure that it goes smoothly until the keys to the property are in your hands.