BUYING A HOME IN THE NANAIMO AREA
Buying a Home in Nanaimo
Whether you’re a first-time home buyer or a seasoned veteran, here are a few tips for buying a home in Nanaimo.
FIRST TIME BUYERS
CALL US. The first step to take is to call the Miller Real Estate Team (250-751-1223) and speak with one of our expert Realtors. They can assist you in the buying process from start to finish and provide valuable information you may not be aware of.
GET MORTGAGE PRE-APPROVAL
Talk to your bank to find out exactly how much your maximum budget is so you know the price range you should be looking at.
CHECK THE YOUR PERSONALIZED PRIVATE CLIENT SERVICES
The Miller Real Estate Team will set up automated emails that notify you the second a new property is on the market. These properties will be customized to include exactly what you are looking for down to the neighborhood or specifications such as bedrooms and bathrooms. If there’s something you want to see, call us to set up an appointment.
MAKE AN OFFER
Once you’ve found the house you want to buy, sit down with your Realtor and review what an appropriate offer would be. You’ll look at comparable sales in the area for similar homes and use this information to determine the price you want to offer. You can often expect to receive a counter offer from the seller, which you’ll have to respond to. After careful negotiations by your Realtor you’ll hopefully be on your way to owning your new home. Always make sure you are comfortable with the agreed price.
MOVE INTO YOUR NEW HOME
The paperwork is finished, the money has been transferred, the keys are in hand and all that’s left to do is move into your new home!
If you’re thinking of upsizing but don’t know where to start, speak to the Miller Real Estate Team. They can offer information about what areas have the best available properties, how much you can expect to pay based on your requirements, and which neighborhoods you may want to consider.
Not all neighborhoods have large homes, so you may be moving to a new area of the city that you’re not familiar with. Your Realtor can provide information, resources and referrals to assist you in the transition.
Downsizing is often more challenging than upsizing because you’re likely going to have to get rid of some of your possessions. You’ll need to decide how much smaller you want to go, what items are important and what can be disposed of in some way – either by giving it to family members, donating to charity, selling it or trashing it. Do you want to pay for a separate storage unit or just get rid of the items completely? Prioritizing what’s truly important will go a long way in helping you with these decisions.
If you’re looking to buy an investment property, call us. Our expert Realtors can advise you on which neighborhoods will maximize your potential rental income and where amenities such as shopping, sporting facilities, religious centers, or schools are located. Some or all of these may be important depending on who your target tenant is.
A good investment property will achieve the highest possible rental income based on current rental market conditions, without spending every penny on repairs and maintenance. A quality home in a good neighborhood will attract good, responsible tenants. And of course, you’re going to have to screen potential tenants thoroughly before letting them move in to your property.
For further information, contact the in-house RE/MAX Property Management division to assist you with renting out your investment property.
RE/MAX of Nanaimo at (250) 751-1223