Investing in a Downtown Vancouver Condo comes with a variety of costs and lifestyle considerations, which is why I want to help you understand what you need to know about Real Estate Buying Costs. Find to more below, with this comprehensive list of costs to help you make your buying decisions easier!

Real Estate Buying Costs

Mortgage Application Fees

Depending on your lender, they may charge you a mortgage application fee. Which is why you should ensure you ask if this fee is included before agreeing to a lending institution.

Mortgage Insurance Fees

If you are paying less that 20% down on your mortgage, the federal government will require you to buy insurance. This is to protect your lender against the risk of defaulting on your mortgage.

Mortgage insurance fees vary greatly, ranging in cost from .6% to nearly 4%. After the percentage is decided on, this fee is then added to the mortgage principal.

Also, homes valued at over a million dollars will always require a 20% down payment and are not eligible for mortgage insurance.

“Price is what you pay. Value is what you get.” – Warren Buffett

Home Inspection Fees

Clients are always advised to have their home inspection completed before buying Real Estate in Downtown Vancouver. This a straightforward process that involves an inspection of the condition of the home and includes such things as:

• mold inspection
• structural inspection
• plumbing inspection
• electrical inspection
• insulation inspection
• and roofing inspection as needed

Home Inspection Fees normally costs between $450-$700, depending on the size of the home.

Land Survey Fees

Some lenders require your property to be surveyed before a mortgage approval, and this will cost you around $500 + GST.

Appraisal Fees

There are lenders who also may require a property appraisal before they will approve your mortgage. Although some might cover this cost in hopes of receiving your business, if they don’t – the fee is around $300-$450 + GST.

Goods and Services Tax – GST, Provincial Sales Tax – PST

When Buying a Downtown Vancouver Condo, new developments will charge 5% GST. There are variable rebates involved for the GST paid, which you can find out by clicking here!

PST is usually only paid on your legal and notary services, along with GST as well. Find out more about Real Estate Buying Costs by using tax calculator here!

Property Transfer Tax – PTT

This fairly new tax was implemented for homebuyers in BC, and is charges at a rate of 1% for the first $200,000. After which, a 2% PTT is implemented up to $2-million. Homes with a remainder of over $2-million are charged a PTT of 5%.

First time homebuyers may be exempt from paying PTT if the purchase price of their Real Estate in Downtown Vancouver is less than $475,000. As well, a partial exemption of the PTT if the purchase price is between $475k-$500k; beyond that there is no exemption.

Qualifying homebuyers of new homes may also be exempt from PTT if the purchase price of their home is less than $750,000. In addition, partial exemptions are also considered for homes up to $800,000. There is no exemption past that, however. This online PTT and GST calculator will help you with your expenses.

Property Taxes

July 4th is the deadline for paying property taxes. Depending on the time of the year when you purchase your property, the buyer may be required to reimburse the seller for a portion of the property taxes paid. The day you take possession of your property is the day you start paying for your property taxes. Your lender may require this to be added to your monthly mortgage payments.  More details about these specific Real Estate Buying Costs can be found here!

Similar Blogs for Your Consideration

Utility Hookup Fees

Real Estate Buying Costs also involve hooking up your gas, water, hydro, cable and phone. Granted, for those moving into a Condo For Sale in Downtown Vancouver, things such as gas are often included in your strata fees.

Life Insurance on Your Mortgage

Life insurance on your mortgage is sometimes required by a lender also, and it is a good idea for buyers to have regardless. This type of insurance will pay off the balance owing on your mortgage in the case of death or permanent injuries, and is well-worth the investment.

Liability and Fire Insurance, Home Insurance

Purchasing home insurance (which includes liability and fire insurance) is also a common requirement of lenders. This is required on the date the purchase is completed for your Vancouver Condo, and should be added to your Real Estate Buying Costs.

Related Article: 12 Tips for Selling your Vancouver Condo

Notary Public and Legal Fees

When buying a Downtown Vancouver Luxury Condo, or any other property, buyers will hire either a lawyer or Notary Public. However, either one of these professionals can help you draft up the paperwork needed to secure a property transfer.

In particular, fees include such things as:

• Property title search
• Land registration fees
• mortgage registration

Together, these fees are around $1200, including what the lawyer or notary charges for their time.

Moving Fees

In addition, other cost to consider are moving fees. These cost will depend on how far you have to move and whether you’re hiring movers, in contrast to simply moving it all yourself.

Strata Maintenance Fees

Which leads me to – strata maintenance fees, which are paid at the beginning of the month. However, your realtor will know more about the details of such strata fees for each Condo for Sale in Vancouver.

Lock Replacement Fees

When you purchase a Downtown Vancouver Condo for Sale, it is a good idea to have the door locks rekeyed or replaced. On one hand this might seem like an unnecessary added cost, on the other – peace of mind is likely worth it.

Commission Fees

Lastly – commission fees. While it is true that the cost of hiring a realtor will pay off in ways one might not be aware of; each may differ slightly. As a Real Estate Specialist in Vancouver, my real estate services come with comprehensive knowledge of the area and the condos within it.

Any fees paid for your purchase are done so after the owner transfer is complete. As well, these fees are paid through the lawyer or notary Public. These fees are paid by the seller, who has agreed in advance on the price of what each realtor will receive in commission.

In addition, all commission fees are agreed upon before any transaction processes. All of which I would be happy to discuss with you when helping you uncover the right Vancouver Condo for Sale for your lifestyle needs, assisting you through all your real estate buying costs and ensuring your experience is a positive one throughout!

Take a Look at the Newest Listings for Yaletown Vancouver Condos

Take a Look at Stats for Vancouver West and Vancouver East

If you’d like more detailed information in your area, reach out to me below and i’ll be in touch.

Get in Touch with Andrew Now… Quick and Easy!

Find out why Robson Street Real Estate is the ‘Shopping District’ of Vancouver. Where shopping, dining and real estate come together to make up the ideal real estate investment in Vancouver!

Robson Street is a thruway that runs from BC Place Stadium straight to Lost Lagoon in Stanley Park. Known as a shopping destination, it is home to about 65% commercial properties that include shopping. Areas of interest include: Library Square, the Vancouver Art Gallery, Safeway, Whole Foods Market and ample dining locations along the way.

Dream big, live fabulous, life is wonderful!

The ‘Shopping District’ of Vancouver

Much of Robson Street is based on dining and shopping, but it also offers various condos between either ends of this stretch of Downtown Vancouver. And as one would imagine, living on Robson Street is fueled by easy access to all things. From delicious food and gourmet coffee, to the entertainment district along Granville Street and all it has to offer. Which is why Robson Street Real Estate is the ‘Rodeo Drive’ of Vancouver

If one is lucky enough to find a condo for sale along Robson Street, they will have found themselves within one of the most bustling areas  to live in Vancouver – yet one of the most accessible as well. Whether trying to leave the city for a quick getaway, or wandering into one of the nearby neighbourhoods – such as Yaletown or Coal Harbour, Robson Street is downtown Vancouver living to its fullest.

Robson Street Real Estate… a Historical Hub

John Robson is the reason behind the name – Robson Street. He was a man of rich history from the Canadian Confederation, and also took the position as Premier of BC from 1889-1892. Although Robson Street didn’t begin taking shape until 1895 when the Canadian Railway created access for visitors, Mr. Robson definitely made his mark with the endless prosperity of Robson – both then and now.

Similar Blogs for Your Consideration

Investing in Real Estate on Robson Street

Featured on an old edition of a Canadian Monopoly board, it isn’t a far-fetched that Robson Street made its way onto such a game. It has one of the highest real estate listing prices in all of Canada, so it’s truly fitting. But this is also what makes Robson Street such a sought after commercial and residential real estate investment. Making homebuyers and investors alike curious about buying a condo in this prevalent region of Downtown Vancouver.

Are looking for a spot “on the board”? Allow your real estate investment to pay off by purchasing your main residence on Robson Street. Offering ideal convenience, an optimal lifestyle, and all the attractions Downtown Vancouver offers. I would be happy to help you get into the Robson Street real estate game, and look forward to doing so!

Take a Look at the Newest Listings for All of Downtown Vancouver Condos

Take a Look at Stats for Vancouver West and Vancouver East

If you’d like more detailed information in your area, reach out to me below and i’ll be in touch.

Get in Touch with Andrew Now… Quick and Easy!

Downtown Vancouver Condos for Sale are one of the most highly sought after real estate investments in Canada. Which is Why Hiring a Vancouver Condo Specialist is Important. It helps in many ways, including making a sound investment on your next luxury condo purchase.

Hire a Realtor Who Understands Downtown Vancouver Condos

Not all Condos in Downtown Vancouver are not created equal. Meaning, there are various strata rules, rental guidelines, pet parameters, etc. for each Apartment Building in Vancouver Downtown. Which is why hiring a realtor who understands these fundamental rules is imperative to a successful investment. There is nothing worse than owning your “dream” Condo, only to discover the fine print after you have signed the contract. The right realtor will inform you about specific rules, and help you find the one that best suits your lifestyle.

Living in one of the most beautiful city’s in the world, is a paradise lifestyle you simply can’t put a price on – Andrew S

Hire a Realtor Who Offers Vancouver Real Estate Listings

Vancouver Real Estate Listings in the downtown core are becoming increasingly difficult to come by. Simply put –  Vancouver Condos for Sale supply is minimal while demand is still high. Meaning, it’s best to hire a realtor who can help you buy in this highly desired BC location.  This can make the difference between becoming a condo owner – or not.

As a Vancouver Condo Specialist, I often have listings available before the general public is made aware they exist. This is sometimes the only way in which a lucky buyer can actually find Condos for Sale in Downtown Vancouver!

Why Hiring a Vancouver Condo Specialist is Important in Saving You Time

Hiring a Vancouver Condo Specialist real estate agent to help you with your Real Estate Investment in Vancouver, means you have access to condos sooner than the general public. As well, it means you will only be looking at Condos for Sale in Downtown Vancouver that meet your checklist.

Everyone has exceedingly busy schedules. Most can’t commit the same time and dedication to finding Downtown Vancouver Real Estate Listings as an agent can. Missing out on buying your dream condo because you didn’t hire the right agent, simply isn’t beneficial to your buying decisions. Choosing the right realtor for the job will save you time, as well as help you find the condo you truly want. Which is ‘Why Hiring a Vancouver Condo Specialist is Important’!

The Right Realtor Can Negotiate Accurately

Having a local, knowledgeable Vancouver Condo Specialist plays an important part when negotiating Vancouver Condos. Negotiating a condo purchase price requires area knowledge and will be the saving grace to your bottom dollar. As well, it will secure your condo purchase quickly. Leading us back to Why Hiring a Vancouver Condo Specialist is Important.

The Right Realtor Can Accurately Manage Contracts

Owning Real Estate in Vancouver involves a lot of paperwork. It involves legal and technical terminology that can trip a lot of people up – including realtors. As a Vancouver Condo Specialist with nearly two decades of experience, I am highly familiar with buying Vancouver Condos Downtown. Don’t fall victim to the wrong buying decision through faulty paperwork. Hire right and move into your condo without concerns.

Similar Blogs for Your Consideration

The Right Realtor is Candid and Trustworthy

Condos for Sale in Downtown Vancouver are actually a lot of fun to look at. But getting swept away with the view, amenities, or the  new life dream can cause you to overlook the details. Which is Why Hiring a Vancouver Condo Specialist is Important. The right realtor will offer you candid advice and deliver trustworthy information on each condo you look at. Downtown Vancouver Real Estate is exciting, and I am here to help keep your decision a sound one.

Related Article:

The Right Realtor Will Act on Your Buying Decisions

Real estate sells quickly in Downtown Vancouver, so an agent acting quickly to assist is important in securing your desired space. Yet another reason why hiring a Vancouver Condo Specialist is important.

Whether you are looking at Coal Harbour, Yaletown or any other Downtown Vancouver Luxury Condos, the right realtor can help ensure you don’t lose out on your desired investment.

As a Vancouver Condo Specialist who lives and works downtown, let me help you find your dream Vancouver Condo. Let’s make this journey a simply and the outcome an enjoyable one!

Take a Look at Stats for Vancouver West and Vancouver East

If you’d like more detailed information in your area, reach out to me below and i’ll be in touch.

Get in Touch with Andrew Now… Quick and Easy!

Although I offer various buying advice pertaining to Vancouver Yaletown Condos for Sale, these Top 5 Imperative Tips for Investing in a Yaletown Condo surpass them all.

Whether aiming to buy a Downtown Vancouver Luxury Condo for your own personal enjoyment, or choosing to purchase a place to rent out – take a read!

Top 5 Imperative Tips for Investing – Tempering Your Buying Temptations

First time buyers and investors alike can tend to get swept away in the moment. Which is why it’s important tempering your buying temptations by finding out what your lender will pre-approve you for.

Deciding between Vancouver Yaletown Condos for Sale can be difficult, so by knowing your budget and not exceeding that by more than 10%, it will narrow your search and keep you on task and on budget.

If life were predictable it would cease to be life, and be without flavour

—Eleanor Roosevelt

Choose a Yaletown Real Estate Specialist

Having a Yaletown Real Estate Specialist work for you will further help lead your Downtown Vancouver Luxury Condo hunt. Whether you are curious about specific condo amenities, strata fees, rental rules, and anything in-between; someone who lives and works in Yaletown is the right realtor for the job.

Click HERE for a Yaletown Real Estate Specialist

Fine-Tune Your Search

Downtown Vancouver Real Estate Listings can be difficult to sift through, but by fine-tuning your search by needs first and wants second, you can land your ideal Downtown Vancouver Luxury Condo quickly.

Important search items include:

• Which neighbourhood works best for you (if you are looking outside of Yaletown)
• What amenities are most important to you
• How many bedrooms work for your immediate and future needs
• How many bathrooms will make your purchase comfortable

As well, knowing your non-negotiables will help your Yaletown Real Estate Specialist find the exact condo you want. So make a list, check it twice, and get ready to discover your perfect Vancouver Yaletown Condo for Sale!

Let the Professionals Negotiate

A Real Estate Investment in Vancouver is exactly that; an investment. And many people are usually in line looking at the same Downtown Vancouver Luxury Condo that you are. Which is why knowing your budget, and having that 10% wiggle room, will really help your Yaletown Real Estate Specialist settle the sale quickly. Real estate agents are trained to ensure the sale and purchase of a home is done correctly, and that negotiations are conducted accordingly. From there, a written agreement is created, locking in your offer and securing the purchase of your condo once accepted. Which brings me to my next point…

Similar Blogs for Your Consideration

Get Everything in Writing

When it comes to making a Real Estate Investment in Vancouver, your word is not your bond. You must get everything in writing in order for your Vancouver Yaletown Condo for Sale to be a viable buying option. Not only are buying terms important to have in paper, but also seller’s agreements relating to what they have said they are offering in their sale. Whether it’s a Fully Furnished Condo, or upgrading the kitchen hardware – pen has to be put to paper for this to be binding.

Lastly, and actually making this my 6^th bonus tip pertaining to the Top 5 Imperative Tips for Investing in a Yaletown Condo, is having a home inspection. A lot of buyers forego this when looking at Downtown Vancouver Luxury Condo’s for Sale, but don’t be that buyer.

As much as “the package” might look pristine, and you want to make the buy before another eager investor does – having a home inspection can be put into the buyers’ terms of agreement. This gives you both the time in order to have an inspection, as well as the peace of mind once your inspection comes out clean.

Curious about Vancouver Yaletown Condos for Sale? I am a Yaletown Real Estate Specialist who excels at helping buyers and sellers alike close their deals successfully. Allow me to help you purchase the exact condo for your investment or personal buying desires, quickly, efficiently and within the terms that are important to you!

Take a Look at the Newest Listings for Yaletown Vancouver Condos

Take a Look at Stats for Vancouver West and Vancouver East

If you’d like more detailed information in your area, reach out to me below and i’ll be in touch.

Get in Touch with Andrew Now… Quick and Easy!

Looking for Tips for Buying a Condo With Your Partner? Make sure to read this article before you do!

Downtown Vancouver Condos for Sale are in high demand, and as such – are an excellent investment choice to make with your partner. However, knowing these ‘Tips for Buying a Condo With Your Partner’ before moving ahead, will help to minimize your stress and maximize your outcome.

Get on the Same Page Before Starting a New Chapter

Starting a new chapter in life is usually filled with positive anticipation when buying a condo with your partner. But in order for positive vibes to flow within the difficult arena of home buying, it is important to ensure you and your partner are on the same page.

When looking at Downtown Vancouver Apartments for Sale, precision is paramount. So knowing your joint factors, before factoring in a real estate agent, will allow your agent in finding a space that is right for both parties involved.

This includes but is not limited to…

• Important must-haves in your Downtown Vancouver Condo
• Understanding your available budget, including a pre-approved mortgage and future income fluctuations
• Knowing what neighbourhood in the downtown region you both want to live
• Discussing whether you want a newly constructed Yaletown Condo or West End fixer upper

Having a clear understanding of what you both want will help your agent find you Downtown Vancouver Condos for Sale that are right  from the get-go. This leaves the task at looking at condos that don’t fit your criteria off the table. In doing so, it will get you into the right space much more quickly!

“love is …buying your first home together” – Andrew Szalontai

Figure Out Your Finances to Safeguard Against Financial Pitfalls

Purchasing a condo in Vancouver will likely be one of your best decisions. But in order to do so, you need to figure out your finances and uncover what you can each contribute to the mortgage. As well, be sure to sit down with your bank in order to get your pre-approval stared. This will provide you with the information your agent needs to find you suitable condos, and ensure your investment is affordable with fluctuating life happenings.

Find an Agent Who Knows the Downtown Vancouver Condo Market

If Downtown Vancouver Condos are of interest to you, finding a real estate agent that is familiar with the area will be paramount to a successful outcome. As an agent who both represents Downtown Vancouver Apartments for Sale, as well as lives in the heart of Yaletown – I am well prepared to make your buying dreams a reality!

Be Ready to Act in Buying a Condo With Your Partner

The Vancouver real estate market is a hot buying stage and you need to be ready to act. If not, it is likely your dream home will be purchased while you’re still in decision mode. So if you are truly looking to buying a condo with your partner, be prepared. Acting quickly when you know you have found your dream Downtown Vancouver Condo for Sale is vital to your purchase.

Similar Blogs for Your Consideration

Don’t Forego Any of the Details – It’s All About the Details

Whether we’re talking about a successful relationship or a successful condo purchase, your success is usually tied up in the details.

When it comes to Buying a Condo With Your Partner – this includes a home inspection. Although some might wish to forego an inspection, it is always highly recommended if you are purchasing a Downtown Vancouver Apartments for Sale. Whether the condo pre-date the Olympics, or was around during Expo ’86 – newer and old alike deserve a once over. This will help your peace of mind, as well as to ensure you are buying a condo that will serve you and your partner for may years to come!

Removing as much stress as possible from the difficult task of home hunting, especially when buying a condo with your partner, will make for a smooth transition in the years to come, and have you thriving in your new environment before the New Years’ confetti even settles.

Allow me to walk you and your partner around the various Downtown Vancouver Condos for Sale. Whether you are both first time buyers, or you’re embarking on a final retirement home together, I am here to make the process an enjoyable one!

Take a Look at the Newest Listings for All of Downtown Vancouver Condos

Take a Look at Stats for Vancouver West and Vancouver East

If you’d like more detailed information in your area, reach out to me below and i’ll be in touch.

Get in Touch with Andrew Now… Quick and Easy!

Vancouver | House Sellers | House Buyers | Condo Buyers | Condo Sellers | REBGV

Choosing a Vancouver Condo as a Retirement Space

Choosing a place to call home for your retirement years can be a difficult decision. Which is why I want to discuss the idea of Choosing a Vancouver Condo as a Retirement Space; offering buyers both a convenient location and an ideal real estate investment in Vancouver!

Retiring from work can be one of the best times of your life. While you may retire from a job never retire from living life to the fullest! – Andrew Szalontai

The Convenience of Vancouver Condos Downtown

As a retiree, you probably just completed a lifelong career, raised a family, and perhaps are anticipating becoming a Grandparent. So finding a house to call home that offers convenience and a simpler lifestyle is something you are likely looking for.

Whether you want to spend your golden years traveling, or end the responsibility of home maintenance, Retirement Vancouver Condos is an ideal choice.

In addition to minimizing the maintenance of a traditional house, you also have peace of mind that comes with Vancouver Condos Downtown. Many condos offer concierge services in Coal Harbour, or provide security parameters in Yaletown. As such, you will feel confident that you can leave for a week, a month, or an unknown amount of months. Retiring in a Vancouver condo could very likely fit your next phase of life, and offer an excellent investment as well.

Retired Does Not Have to Equal Slowing Down

Sure the career is complete, and yes the children are raised, but living an active lifestyle does not have to stop once you’re done punching a clock and purchasing school supplies. In fact, many retirees say that life BEGINS with retirement – and so it should!

This time is all about enjoying your community, surrounding yourself with friends and activities you adore. Perhaps that involves regular access to the sea wall and the many activities you can find there. Or maybe you wish to be in walking distance to a community centre, gym, shopping, or local coffee shops and amazing eateries. Condos For Sale in Downtown Vancouver are full of all these things and more.

Similar Blogs for Your Consideration

Continuing Your Career with Condo Living in Vancouver

Leaving a career you love can be difficult when retiring. But in this modern age of mobile offices and of-site work places, you don’t necessarily have to retire. Choosing a Vancouver Condo as a Retirement Space can help with that!

Have discovered that not having a regular routine filled with daily tasks has you bored? Living in the core of Vancouver can provide you with endless opportunities.

Many companies look for consultants who can help them with business processes from all industry types. As such, living in an area that offers you the ability to set up shop could provide you with the ability to continue on with the type of business you love!

Vancouver delivers many opportunities – from work to play, shopping to dining, relaxing to exploring. And as a resident of Downtown Vancouver, I would love to show you how your retirement could look here. Whether as a Real Estate Investment in Vancouver, Choosing a Vancouver Condo as a Retirement Space, or simply a new space to call home. Downtown living is safe, convenient and exciting, while offering endless opportunities!

Other Benefits of Retirement Vancouver Condos

In addition to the convenience of living in the city, the various activities readily available outside your doorstep, the investment factor, and the freedom to securely come and go, there are other benefits to Retirement Vancouver Condos that include:

• No landscaping required – yard work free living
• Exterior repairs such as roof maintenance, painting the house, paving the driveway, shoveling the walk – are no more
• Plumbing problems such as freezing pipes become a “them” issue
• The freedom to travel without worries of theft
• Ability to rent out your space to a student or other short-term stays within the guidelines of your condo  

Truly, Downtown Vancouver Condos for Sale deliver a big return for those who invest in them, and not just financially.

I am certain you will quickly discover a community of like-minded people within your new dwelling. From meeting in the elevator, conversing at the pool or striking up a friendship at one of the events often hosted for residents of downtown condos. Choosing a Vancouver Condo as a Retirement Space is something you will want to consider.

If you are a baby boomer ready to relocate to a retirement condo in Vancouver – I am here to help you make the transition, and am confident you will be ecstatic about your decision!

Take a Look at the Newest Listings for Coal Harbour Vancouver Condos

Take a Look at Stats for Vancouver West and Vancouver East

If you’d like more detailed information in your area, reach out to me below and i’ll be in touch.

Get in Touch with Andrew Now… Quick and Easy!