Important Insights for First Time Home Buyers in the Okanagan

I’m not going to sugar coat it; being a first time home buyer can be overwhelming. It’s been a very interesting real estate market in Kelowna with everything going on around us in the world. Then adding to that, you may feel like there's so much new information about buying a home that you don't quite understand, so you're not exactly sure where to start the whole real estate process. This feeling is totally common; don’t worry - I’ve got your back! Here are the first three steps to help get you started on the path to successful home ownership: ⠀

1. Know Your (Realistic) Numbers

First and foremost, before you even start your home search, you’ll want to connect with a mortgage broker or financial lender to understand a realistic budget. Talking to mortgage professionals about your options can help you compare rates, lender fees, and loan terms, which ultimately assist with creating a budget to determine a practical figure for your mortgage payments. You'll want to move forward with someone who is not only knowledgeable, but also offers exceptional customer service and communicates efficiently.

2. Find a Great Real Estate Sales Representative

Once you've established your mortgage pre-approval amount, you can have confidence in knowing your finances are in order. Now it's time to find a real estate agent you can trust! A great REALTOR® will help provide insight into the neighbourhoods you're interested in and can assist with finding available homes within your budget. They'll work through all the legal documentation with you to put in an offer on the home you love.


3. Ask Questions Along the Way

As a first time home buyer, you’re not expected to know all the answers on your own - that’s what real estate professionals are for! Questions are actually encouraged throughout the home buying process, so make sure you ask any questions that you’d like an answer to; it’s important that you understand all the moving parts along the way so you can be as comfortable and educated as possible since this is one of the biggest investments you’ll make within your lifetime.

Congratulations to you! Once these three steps are taken care of, you're well on your way to owning your first home - how exciting is that?! If you need to be connected to a mortgage professional, want to chat more about the home buying process, or have your pre-approval letter in hand and are ready to go house shopping, reach out to me today at 250.718.7851 or staci@stacichampagne.com.

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