WESTSIDE
FRIDAY, FEBRUARY 27, 2015
DOWNTOWN
info@rew.ca • 604-435-7977
No. 1 Lender, $3.3 Billion Funded 2 Year Fixed
2.34%
PAUL SOBIESKI 604-512-2222 #201 - 1537 West 8th Ave, Vancouver BC, V6J IT5
Email: psobieski@telus.net Fax: 604-742-0119
R E A L E S TAT E W E E K LY
2014 TMG National Broker of the Year
Buying With Confidence Lessons learned at the GVHBA’s New Home Buyers’ Seminar
A
fter years of saving, Filipinoborn Maria Reyes and her husband are ready to purchase their first home. Since immigrating to Canada four years ago, Reyes, her husband and three young children have lived with family members. Her dream has always been to own her own home but she was unsure about all the ins and outs of the home buying process. Recently she attended the free Greater Vancouver Home Builders’ Association (GVHBA) seminar for new home buyers to get answers to her most pressing questions. “With my brother, we have been able to save enough money to put a 25 per cent down payment on a $400,000 town home in Langley,” says Reyes. “I want to know exactly what all the costs involved are and why I need to use a Realtor.” For Graham and Anna, a
young Vancouver couple in their early thirties, they came to the seminar in hopes of getting educated about the process of home inspections and offers. The couple, who have started to save for their first home, say their parents are helping them out with a down payment. “We’ve done research online and calculated roughly what we can afford,” says Graham. More than 150 people came out to Surrey City Hall to listen to a panel of industry experts during the first of two free events that made up the 21st Annual GVHBA New Home Buyers’ Seminar – the second being held two days later at SFU’s downtown Vancouver campus. Prior to the two-hour seminar, attendees could ask questions
from a number of GVHBA members who hosted booths – everyone from mortgage specialists to Fortis BC, to the Canada Mortgage and Housing Corporation CMHC (Canada’s national housing agency which helps Canadians find affordable ways to own a home), and home builders Polygon and Vesta Properties, to name just a few. Moderator Shayne Ramsay, CEO of BC Housing, kept the panel of six industry experts to their 10-minute presentations, which was followed by a lively Q&A. As prospective first-time home buyers, both Viv Newman and her 25-year-old daughter Diana Newman learned a lot from the information covered during the seminar. “For the past 22 years, I’ve lived with family members. I just came into an inheritance that will allow us both to purchase a home,” says Viv
Newman. “I’m looking at a single family home or duplex in South Surrey, while Diana wants an apartment in downtown Vancouver.” The mother-daughter team attended because the whole idea of buying their first homes seemed daunting. They both wanted help to demystify the process in order to make the best decision possible. “There are so many fees … I mean, I didn’t even know about the Property Transfer Tax,” says Diana Newman, adding the pamphlets and handouts are very informative. What amazed both was the importance of hiring a Realtor. “I was really surprised to hear there is no fee [for buyers],” says Viv. Diana, a business degree graduate, agreed and added: “I wasn’t going to use a Realtor but after hearing about how complex and ever-changing the real estate regulations are, I am. I also didn’t realize how complicated the contracts can be and what to ask for from a seller.” “I have a lot of homework to do,” Viv Newman quips as she leaves the event.
For more information on home buying, visit www.gvhba.org/ consumers/buying, where you’ll discover a plethora of articles, tips on the home buying process, as well as links to websites offering great resources, products and ideas. And of course, you will always find a host of home buying articles and advice at www.rew.ca/news/buying.
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