Kamloops First Time Home Buyers

Kamloops First Time Home Buyers

So, you are looking to buy your first home in Kamloops? 

Congrats! You are about to take an amazing first step for you and your family’s future wealth.  This can be a very exciting but also nerve-racking time for you with loads of questions.  We are here to help!

The very first step in searching for your first home is to meet with your mortgage broker or bank and get pre-approved.  Getting pre-approved is a step that helps you determine how much you can afford for your purchase.  Many times, buyers choose to skip this first step, look at homes beyond their price point and end up falling in love with a home they cannot afford; a very disappointing experience in the end.  Another great part about getting pre-approved is that your mortgage broker/banker will lock you in to the current interest rate for 90 days while you look for your home.  In the event the interest rate goes up (interest rates are on the rise), your rate is locked in at the lower rate.  If the rate goes down, you will be able to re-qualify under the new rate.  Win-win!  There are many first time home buyer incentives and programs to help with your purchase.

Congrats! You have been pre-approved!  You have your budget, your excitement.. now what?  It’s time to sit down and talk with an agent from the McDowell Group and discuss your goals.  Many buyers immediately take to the internet and start searching for their next home.  It’s a great tool to start informing yourself on the market, the areas and current prices. Especially in this fast-paced market it is important to develop a relationship with an agent who is familiar with the market and your needs. 

Now that you have met with an agent from the McDowell group, and we have identified your wants/needs, it’s time to go start looking at a homes.  This is the exciting time of your home search.  Viewing homes with the McDowell Group is a fun, educational experience.  We work to gain a better understanding of your needs and help tailor your search to homes that will work well for you, your family and your future. 

We found you a home!  Now it’s time to put an offer in.  Working with the McDowell Group we will walk you step by step through the offer process.  Each offer includes conditions (subject) as a part of your due diligence.   Conditions can include home inspection, review of seller disclosure documents, assuring you can obtain financing, etc.  Each home and property is different.  We will make sure you are properly covered from start to finish.  (**Important financing note: If you do get pre-approved, hold off on any major financing purchases while looking for your home like car/truck loans.  This will affect your financing when you put an offer in.)

Wow!  Financing is good, inspection went well, and all other documents checked out.  It’s time to remove subjects and make your purchase unconditional!  You are now legally agreeing to purchase your new home!  Time to start packing!  Our final stage is to arrange an appointment with your lawyer for final closing.  You will meet with them within the final week before your possession to sign transfer documents. 

It’s possession day!  Time to move in!  (No, we don’t help you move!)

Want some help finding your first home?  Click here and tell us more about yourself and what you want in your next home.

Contact Information

Photo of The McDowell Group  Real Estate
The McDowell Group
Royal LePage Westwin Realty
800 Seymour St
Kamloops BC V2C2H5
Office/Pager 250-374-1461
Fax: 250-374-0752




 

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