For Listings, visit the RE/MAX of Nanaimo website

Justus Edmundson – Personal Real Estate Corporation

Buying a Home

Purchasing a home is a very big and exciting decision that will change your life forever. And as with any big decision there can be many things to consider when purchasing property, whether it’s your first house or your fifth condo.

When you are ready to start looking at homes or properties, you will have to be ready to commit to the process in order to find the perfect new home. Everyone is looking for something different, and it’s my job to understand the specifics regarding what you are looking for. Do you need a big house with room for your family to grow, or is it time to stop cutting the lawn and get into a condo now that your kids have grown up? For the best results, take the time to understand what your requirements are before you begin viewing properties.

To help make the process more transparent, I’ve also written articles that outline different areas of buying a home, so keep reading for more information, or get in touch with any questions. I look forward to making the purchase of your home as easy and stress-free as possible!

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General Articles

Basics of Buying icon
The Basics of Buying

Everyone is unique when it comes to their reasons for buying a home. Here’s a list of points that I believe anyone should consider when buying real estate.

A beautiful house

The purchase of a home might be a complicated process, but with the right team it doesn’t have to be difficult. If you’re well prepared, with the ideal REALTOR® on your side, buying your home will be enjoyable and stress-free. A big part of my job is helping you to find exactly what you’re looking for by working with you to refine the search. I am not here to judge or push you into making decisions: I’m here to connect you to the buying market and help you ascertain your dream home.

The purpose of this article is to cover the very basics of buying a home, starting with a short list of considerations:

Benefits of Homeownership

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Types of Homes

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Considerations When Buying

Selecting a house is a big decision and requires patience and a willingness to view as many properties as possible. When we find the perfect house for you, trust me, you’ll know. Listen to your gut and don’t hesitate to ask questions. Above all, be honest.

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Questions to Ask

Depending on your specific needs, review each potential home you see with your needs in mind as we view properties. Here’s a short list of the basics:

Considering a Condo or Townhome? You may wish to read a more detailed article further down this page that goes into greater detail about the ins-and-outs of communal living spaces.

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Moving to a New Area

Whether you’re moving to a new city or to a new neighbourhood across town, here’s a few points to consider when buying into a new area.

The harbour at night

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Working With Your REALTOR®

As a REALTOR®, I am here to help represent you in the buying process.

Justus Edmundson

It is not my objective to take control or keep you in the dark. Rather, we will work together in the process of house hunting to ensure that your purchase is as efficient and enjoyable as possible. As I tell all of my clients: I don’t need to make this deal more than you do!

To that end, I recommend that we work together to compare properties in the area you desire, and to determine your purchase offer. I will negotiate with the sellers on your behalf to ensure you get the most favourable terms (while also keeping everyone grounded in reality).

It is my desire to look after your best interests, and I take my job very seriously; you should take the process of choosing your REALTOR® just as seriously.

As you’re narrowing down your choices, try to keep the following list of questions in mind:

Questions To Ask Your REALTOR®

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Keeping Track of Listings

While you are out viewing potential properties, I recommend keeping a record so you can easily go back and review all of the houses you have seen. It’s easy to start off by keeping the details “in your head”, but chances are we’ll see so many properties that they’ll start to blur together a little.

Here are my simple suggestions to help keep your property hunt organized:

Remember: I am here to help you find your home, not make any of these important decisions for you. Review your top choices and be confident to ask for my guidance – I am here to help.

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Process of Buying icon
The Process of Buying

Before you start looking at buying a new home, it’s critical that you consider all of your options and understand what your needs are. Buying a home can be an emotional process, so make sure you are ready for all of the steps and decisions that are ahead.

Make Sure You’re Ready

  • Be Prepared – It takes financial management skills and stability to purchase property and maintain prompt mortgage payments. Make sure before you get in too deep that you are financially stable enough to take on such an investment. It is always better to wait and prepare properly before taking on too much of a financial burden.
  • Know the Costs – Along with property ownership there are also extra costs of repairs and maintenance, as well as the time that it takes to perform the work. Understand that being a home owner initiates you to spending more time at home repairing and maintaining your property to ensure it holds its re-sale value and keeps your family safe and comfortable.

Review Your Finances

  • Calculate Your Spending – Know how much you spend day-to-day, or month-by-month, to maintain your current level of lifestyle. Are you able to take on more financial output or do you need to review your budget? Many buyers realize that they could cut back in their every day routines to improve their financial situation and proceed with purchasing property.
  • Get Pre-Approved – It is always a good idea to get pre-approved for a mortgage to understand what price range is realistic for you in order to avoid disappointment. Nothing is more devastating than finding your dream home and finding out the money available to you isn’t quite enough. I have the best lenders in the business that I can refer you to. Contact me for more information.

Don’t Be House-Poor! Make sure you can afford to live, once you have purchased your home, so you are able to enjoy your new space and not be stressed about keeping the hydro on!

Consider Your Dream Home

  • Review Your Needs – Take the time to undersand what your needs are now and in the future. Make sure that your new home meets your current requirements and future needs for the next 5–10 years.
  • Location, Location, Location – If the home you purchase is everything you could dream of – except the location – it’s probably not the right place. Again, it’s important to understand how the location factors in to finding your perfect home. Would you prefer living in the city or country? How you will get to work or the grocery store? Would like to be closer to family and friends?

More About Vancouver Island For more information about beautiful Vancouver Island, please have a look at the Our Area page. You’ll find a small write-up of popular locations, links for further details, and maps of the area!

Start Looking

  • Your Words – Start talking with your friends and family about your desire to find a new home. The power of attraction is an amazing thing and you never know what will be brought to your attention if you let people know you’re looking.
  • Your Eyes – Check out local newspapers, real estate magazines, the internet and walk the neighbourhoods that designate the area you are considering. Also, driving by listings that have piqued your interest can save you a lot of time – the listing may look attractive online, but it may be something else entirely when seen in context of the neighbourhood. These free options can offer all kinds of resources to connect with what is on the current market.
  • Your Professional – Using a professional REALTOR® will ensure all of your ducks are in a row. There is a lot of paperwork and non-trivial details that go along with purchasing a home, and using a professional means you’ll know the rules – and get what you pay for. For more information about the Justus Edmundson Personal Real Estate Corporation – me! – check out the about page.
  • Your Records – Look at as many houses as you can, and don’t hesitate to go back and view the houses you prefer as many times as necessary. Keep a record of the houses you have viewed and track any important information for comparison.

Wait For The Right Place! Don’t let anyone tell you that you can’t afford to be selective when looking for a home to buy, even if your funding is limited. Every sale is just as unique as every house on the market: keep looking until you find the perfect fit.

Make an Offer to Purchase

  • Have It Inspected – Hire a professional house inspector to evaluate and reveal any problems that you might encounter once you’ve found the home you wish to make an offer on (you can find a list of trusted professionals, including home inspectors, near the bottom of my contact page).
  • Initial Offer – Once you have found the home for you it is time to make an Offer to Purchase. As this is a legal document, it needs to be carefully prepared. Make sure you work side by side with your REALTOR®, Lawyer, or Notary if necessary to ensure the offer is completed correctly.
  • Negotiations – After you’ve made an offer, the next level of discussions begin. At the Negotiations stage, a couple of situations can occur: a) the seller returns with an agreement to the offer, or b) conditions are added or adjusted and the ball returns to your court.

Close the Deal

  • Dates – Remember the difference between Completion and Possession. They are often different days, and your REALTOR® cannot release keys until the time and day of Possession, as contained in the contract. You will need to contact your lawyer the week before Completion to make arrangements to sign all the documentation and complete the financial requirements to execute and finalize your purchase.
  • Getting Your Keys – The big day that you take possession of your new home usually occurs between 30-60 days after the date of the agreement being signed. Remember to make sure you have house insurance in place before it is in your possession! Remember, every sale is different, so prepare for it to take longer than 60 days, just as a precaution.
  • Celebrate – Congratulations, you will have officially become a home owner! Your hard work has paid off, so make sure you take time to celebrate.

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Specific Articles

Condo icon
Condos & Townhomes

In this article I’ll explain the difference between a condo and a townhome, as well as list the considerations and benefits of purchase.

Condos in Nanaimo

Both condos and townhomes are units that are owned by individuals; the biggest difference between the two terms falls back to exterior property ownership. The owner of a townhouse or townhome has property rights that extend to the ground around (and below) the unit, as well as the air above. A condo, by contrast, refers to the ownership of the interior walls of the structure only.

It’s worth mentioning that the terms “condo” and “strata” refer to the same concept: a development that is divided into units (or lots). This system allows individuals to purchase delegated sections and have ownership of their own personal space. Collectively all residents share the common property on site, such as parking lots, sidewalks, and garden beds.

Measure twice, move once! Sometimes the buyer of a condo or townhouse, the investor is moving from a larger home. Really consider how large your new space is. Will your old furniture fit in the new space? Can your couch fit down the hall and into your new home? Measure twice, buy furniture once!

Considerations when Buying a Condo or Townhome

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Advantages of Owning a Condo or Townhome

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Abiding by the Rules

There are lots of great reasons to purchase a condo or townhome, but it’s important to consider the restrictions that may come with a communal living facility. My job is to look after your best interests, and to ensure you get what you are paying for. I will find out exactly what is (and what is not!) included in the price for the unit by compiling a complete set of building rules and regulations before you sign on the dotted line. I wouldn’t want you to buy a new place for you and your furry companion, only to find out when you move in that there are no pets allowed!

There are a few other circumstances to consider as well. Sometimes an owner of a condo or townhouse may experience a loss of freedom due to rules and by-laws enforced by the complex committee. We work together to ensure you are aware of these rules before it’s too late.

Work together. When living with a larger concentration of owners, there’s a greater chance of conflict with people, personalities, parties, pets, and parking. Keep your communication lines open and make sure you talk things out with your neighbours.

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Retirement & Relocation

It’s easy to understand why Vancouver Island is a popular destination for retirees, boasting warm, temperate climate and an easy-going, laid-back lifestyle.

The decision to relocate after retirement is an exciting and likely emotional time. Be patient and plan carefully by taking a few precautionary steps to prepare for the purchase of a new home.

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Adjustment Period

After relocating to a new area it is important to get out into your community and get involved.

Friends are an essential aspect of happiness, and there are great people to connect with no matter where you live. Take the time to meet your neighbours and experience the myriad benefits of living the “Island Life”.

Extra Features to Consider

Ensure that your retirement and relocation has all the perks you are looking for:

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Downsizing

Downsizing will make life more affordable, which will allow you to spend your money on fun things, like traveling and hobbies.

The choice to downsize is not an easy, or small decision to make. Be patient with yourself when you start making plans to move, and be realistic about what your needs are for your new space.

Things to Consider when Downsizing

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Reasons to Downsize

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Things to be Cautious of when Downsizing

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Luxury Home icon
Luxury Homes

Looking to purchase a luxury or high-end property? Allow me to provide you with the service and selection you deserve.

From a huge acreage with the privacy to suit your needs or the urban lover with a desire for the best view in your favourite city. I will hunt with relentless drive to find the best property to fit into your luxurious life style.

Along with top quality real estate guidance encompassing discretion and poise, I will pursue your ideal luxury home by arranging private viewings and complete every piece of paperwork without having to interrupt your day. Trust Justus Edmundson Personal Real Estate Corporation and RE/MAX of Nanaimo with finding your luxury home.

Common Features of a Luxury Home

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Investment Properties

Just like any property purchase, you must invest not only money, but also time to develop a financial strategy, and you will need to monitor and modify your strategy to maintain your investment at its best.

Choosing to invest in real estate is one of the best decisions you can make, provided you choose carefully and are able to see the time it takes to make the financial investment work.

Property Investment Strategies to Consider

Build a Strong Team I’ve compiled a list of trusted professionals to help round-out your team. From accountants and lawyers, to building inspectors and movers, visit my List of Professionals for contact details.

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Foreclosures

Purchasing a property in foreclosure involves taking on a previously-mortgaged property that the current owners have failed to keep up with their mortgage payments.

The process can sound simple, but this kind of purchase can be complicated and overwhelming for both the buyer and the individuals losing their home.

It’s an unfortunate fact, but when a home owner realizes they are about to lose their home through foreclosure, it is not uncommon for them to stop taking care of the property. This can the leave the home in a dire need of repair, be prepared for your foreclosure purchase to need a lot of attention!

Contact me for more information about how you can purchase a foreclosed property.

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Are you thinking about buying or selling?
Do you know someone who is?

Contact Justus TODAY!

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