3 Factors to Consider When Buying a Home in Vancouver

With its tag as one of the most clean and livable cities in the world, Vancouver is fast gaining recognition as a good place to choose as a home. Add to this a warm climate that hovers in the range of 20 to 25 degree Celsius almost all year round, and it is not tough to see why people are making a beeline for property in this city. Vancouver offers a wide range of housing accommodation and you are almost sure to find a good home; however, to ensure you find the perfect home, here are three important factors you ought to consider.

Where to Buy

The location of the home is an important aspect because this will decide it price. According to realty experts, the B.C. Lower Mainland region that includes Vancouver and its surrounding areas is expected to see a definite rise population and as a result, real estate values are expected to spiral upwards in the coming years. Therefore, if you are looking at buying a home as a mode of investment, it makes sense to choose this area so that you can take advantage of the high real estate value at a later date.

The location of your home is an important factor that determines how high a premium you pay on your home insurance in Vancouver. A home in an area where the theft claims are high means your insurer will charge you a higher premium. Viewed from this angle, Vancouver is a good option to buy a home considering the report from Statistics Canada that says that B.C. exhibits the most rapid fall in crime rate compared to the rest of Canada.

Your Needs

The size of your family and the individual requirements of the family members is another important criterion to consider. While apartment buildings and condominiums are quite easily available, finding a single house to rent may be difficult in the heart of Vancouver city. If you do not prefer living in an apartment but cannot find a detached house, try the apartments that have been created from old, Victorian style buildings; however, do check if they have separate kitchen and bathrooms before you buy.

If you and your family like being outdoors and are an adventure sports enthusiast, Vancouver provides a lot of options - hiking, trekking, snowboarding, skiing and kayaking. This city is also a good choice if you have kids who plan on higher education or acquiring skills in the performing arts.

The Cost of a Home

All said and done, the cost of the home is the biggest factor that determines your buying decision. Assess your present financial condition, and factor in all the costs associated with buying a home; not only will you have to pay for the house, you will also need to purchase home insurance in Vancouver, spend on moving to your new home, and perhaps carry out minor renovations to make it suit your taste.

Like any other city, Vancouver has several real estate agents who can help you through the purchase. However, the final decision of which home to buy is yours alone and therefore, it is vital you spend enough time on thinking it through, taking these three factors into consideration.