5 Things To Look For When Buying A Single-Family Home In British Columbia

5 Things To Look For When Buying A Single-Family Home In British Columbia

Sometimes its great to leave Houstons real estate scene and take a quick trip to Canada. British Columbia is home to some of the most spectacular scenery and vibrant cities in Canada. Bordered by the vast Pacific coastline as well as majestic mountain ranges, British Columbia has a diverse real estate market, offering a little something for everyone. Potential residents have the option of living in a bustling city such as the province’s capital, Victoria, or living the quiet, country life up in the mountains or in one of the many beautiful coastal towns.

Over the last few years, British Columbia has gained a reputation as being one of the top places to live in Canada and as such, the real estate market has really blossomed. Buying a single-family home in this stunning province can seem a little overwhelming, but have no fear; here are five questions you can ask yourself if you’re considering buying a single-family home in British Columbia.

What type of home are you looking for?

Single-family homes come in all shapes and sizes and can suit budgets of all price ranges. British Columbia prides itself on the diversity and inclusivity it provides to the locals residing in the beautiful province. A wide variety of housing styles can be found among the real estate listings, ideal for all who choose to call BC home.

Detached homes are free-standing residential structures situated on defined plots of land. The size of detached homes range from cozy, one-storey bungalows to expansive estates, so families of all sizes can take up residence in one of these delightful establishments.

Semi-detached homes, often referred to as a “side-by-side” duplex, consists of two single-family homes that share a middle wall.

Duplex homes are two separate homes that are attached either side-by-side or one unit on top of the other. Some duplexes fall under the category of strata titled property and are subject to different rules and regulations than typical duplexes.

Townhomes are a group of typically two-storey homes that are all attached by a common wall. Each of the homes within the group have their own entrances from the outside.

To determine which housing style will be best for you, it’s best to tour all varieties when you begin searching for your perfect single-family home. While touring the homes, taking notes can help you with your decision once you’ve seen several homes and can’t decide what you liked best. Some questions you can ask yourself include:

  • How many square feet of living space is there? How many rooms make up the house? Will these rooms suit your family’s size?
  • What is the size of the lot? Is it fully serviced?
  • What’s the condition of the roof? Have there been recent repairs or will it need to be replaced soon?
  • Is there enough natural lighting for your preferences? Which directions to most of the windows face?
  • How much storage space is there? If there’s a basement, what condition is it in?

What can you afford?

Some of the major cities of British Columbia, such as Kamloops, Kelowna, Vancouver, and Victoria, have quickly become some of the most coveted living areas in the province. Over the last decade, it has become increasingly expensive to live in one of these fabulous cities, but there are plenty of options for those wishing to live the busy urban lifestyle of a BC city-dweller. Once you know what type of house you’re looking for, you need to determine what you’ll be able to afford.

Meeting with the proper financial advisors, banks, and mortgage companies can give you an estimate on what you can invest into your real estate purchase. A few factors that affect the price of a home include size, both interior and lot size, condition of the home, and the included features. Some unexpected costs to consider include potential repairs or renovations, utilities, and any landscaping you desire.

What type of ownership are you looking for?

There are several options when it comes to home ownership. The following are the most common:

Freehold interest means the owner has full control of the land purchased and the buildings situated on that land.

Strata title is designed to provide use and ownership of a specific housing unit. This is most common in duplexes, apartment blocks, and townhouse complexes.

Leasehold is the right to use a residential property for an agreed-upon period of time. Occasionally used for detached homes situated on farmland, leasehold is most commonly used for townhomes or apartments.

Cooperative ownership means that more than one person owns a share in a company or cooperative association containing a number of housing units.

Where do you want to buy?

British Columbia is home to so many fantastic cities, towns, and rural areas. One of the hardest decisions when choosing a single-family home in the province is where you wish to reside.

When it comes to neighbourhoods, British Columbia has many wonderful options. Questions you’ll want to ask include:

  • What is the demographic?
  • Do you feel safe here?
  • Are the nearby amenities satisfactory to your needs?

A sense of community is integral to locals. Every neighbourhood has a different vibe and offers a variety of unique amenities. Are you looking for a rural area, surrounded by wilderness? Is the big city a good fit for your active lifestyle? Is a small-town charm where you best feel at home? Finding the right community is very important when deciding where to live.

Transportation is another important factor to consider. Will you need access to public transportation? If so, British Columbia has a fantastic system of trains, buses, and ferries. If you’re looking into a rural area, you can be sure that you’ll need your own mode of transportation and will need to factor that into your budget.

The type of home you wish to live in will also affect where you live. If a spacious, free-standing home is what you’re after, you’ll probably skip the listings for Downtown Victoria. If you’re interested in a trendy, high-rise condo building, maybe the small coastal town of Ucluelet isn’t the right place to call home.

Read a similar article - Buying A Commercial Property in New York? You Will Want To Consider These Things!

What should you include in your initial inspections?

   

Once you’ve found your dream home, you’ll want to consider the proper inspections and inquiries before signing any papers. A few considerations you may want to take note of include:

Appraisal Report - the estimated value of the property.

Electrical Inspection - a look at the electrical system and the identification of any current or possible issues.

Furnace and Chimney Inspection - to determine if the furnace and chimney follow the current safety and insurance standards.

Home Inspection - offers an estimation on the physical condition of a property.

Septic/Sewer Inspection - determines the condition of the current septic or sewer system and ensures everything is up to code.

There are other inspections that can be done on a home, to ensure you’re getting the best evaluation of a house, consult your real estate agent.

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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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