First Time Home Buyer: Should You Buy Now Or Continue To Rent?
With home prices easing over the past few months, there are now more choies for first time home buyers. Looking for an affordable condo or apartment will continue to be very challenging. A search on the MLS system for Greater Vancouver reveals that there are now some apartments and condos that are priced around $150,000. Chances are good that a first time home buyer can buy a unit instead of continuing to rent.
Here are 3 Richmond apartment listings under $150,000 available for sale:
# 316 8740 CITATION DR, Studio Unit, 452 sq ft Asking: $119,900
# 208 8740 CITATION DR, 1 Bedroom, 646 sq ft Asking: $149,000
# 306 11240 DANIELS RD, 1 Bedroom, 813 sq ft, Asking: $149,800
If you are renting, the cost may be close to you buying with 5% down payment and making the monthly payment on your mortgage.
Things you should know about home financing for first time home buyer
Buying a home is exciting, but can also be a time of anxiety and apprehension. As a first time home buyer, there are many issues you need to address. It is advisable for you to work with a local real estate agent, and a mortgage broker to help you with your real estate needs.
You should have your mortgage pre-approved, before taking the next step in looking for a home to buy. Once you are pre-approved, you know for certain what you can afford.
If you neeed more information on home financing and the availability of condos or apartment under $150,000, kindly contact me at 604-721-4817 or email me.
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