Is It Time to Buy a Townhome in Vancouver?

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If you’re thinking of buying a house in Vancouver, you’d better run, not walk, to find a realtor. Vancouver’s real estate sales have grown almost 50% in the last year.

Buying a townhouse is no different. Demand is high, and supply is low. As a result, townhomes for sale are limited but incredibly valuable.

This isn’t a problem for an experienced expert like David Crawford Realtor. Keep reading to learn what it’ll look like living in Vancouver, the process of finding a townhouse for sale in Vancouver, and how David can help you score a great property!

ownhouses for sale vancouver

Buying a Townhouse in Vancouver

It’s no surprise that the city was ranked the third best place to live worldwide. 

Vancouver has a stunning mix of powerful landscapes and green living intertwined with a lively city full of excitement. Let’s share some pros and cons of living in Vancouver to help you determine if it’s right for you!

Buy a House in Vancouver

If you want to buy a house in Vancouver, BC, you’re in for a time filled with fun, adventure, and the great outdoors merged with city culture. Here you’ll find the perfect balance of relaxed nature-lovers and city hustlers.

Every season in Vancouver brings a new outdoor activity. Hit the slopes in the winter, enjoy beautiful greenery and hikes in spring and fall, and enjoy many of Vancouver’s beautiful beaches and lakes in the summer. 

Living in Vancouver promotes an active lifestyle. You’ll find people biking or walking to work and trying to adopt sustainable habits for their and the planet’s wellbeing. Being a diverse city, Vancouver is filled with a culture that can be experienced through the style and flavours of the city shops and restaurants.

With all the amenities of living in Vancouver, market demand is high. This means the real estate market is fiercely competitive (but not impossible). However, the antidote is that most jobs in Vancouver pay sufficiently to live a comfortable city life. 

Finding Townhouse for Sale: Vancouver

Finding a townhouse for sale in Vancouver is a ten-step process. But, once you speak with David Crawford, who understands the market, it’s a piece of cake. 

Finances for Down-Payment

Houses under $500,000 will average down payments of 5%, or $25,000. Homes over one million have a minimum down-payment of 20%, or $250,000. This is a lot of money to pay upfront, so you need to make sure you have enough to afford it.

  • Proof of Stable Income and Credit

Your credit score will impact how much financing you can obtain. It’s how lenders assess your trustworthiness. Being an expensive market, you’ll need to have enough credit to cover monthly payments and emergencies. 

  • Budget

While Vancouver’s average real estate price hovers in the millions, home prices range from under $100,000 to the high millions. Of course, this all depends on the location, age, and amenities – which you can discuss. 

  • Location 

The location will impact everything from your price and resale value to your lifestyle. Factoring in your budget, decide if you want to be on the city outskirts, in the mountains, or close to work. 

  • Calculate Closing Costs

Closing costs are the second-highest costs besides the actual purchase of your home. So you’ll need to factor them into your budget. Closing cost examples include lawyers, inspections and appraisals. 

  • Pre-approval

Pre-approval saves you from making a purchase you can’t afford to upkeep. It provides a snapshot of your home purchasing power. Your pre-approval reveals how much you can afford to spend, the maximum amount your lender is offering, your estimated interest rates and your estimated monthly payments. 

It’s integral to have this information before closing a sale. It also helps take some of the guesswork and stress out of your decision making and provides your realtor with a baseline for market exploration. 

  • Find a Realtor

You can do this earlier in the game. It’s recommended to have your realtor with you every step of the way to avoid costly mistakes. But after pre-approval, it is crucial to have a realtor. 

  • Start Exploring Townhomes for Sale

The fun part! Now that you have your pre-approval, budget, and realtor, it’s time to field trip through Vancouver. Your realtor will set up visits for you and help you narrow down your search for your perfect home!

  • Submit Your Offers

Once you find a property that marks everything off your checklist, it’s time to make an offer. Keep in mind that your first offer might not be accepted. Your realtor will help you negotiate, so you get the best deal. 

  • Become a Homeowner

Once your offer is accepted, that’s it! You are officially a Vancouver homeowner! This day is often referred to as your “closing date.”

Get In Touch With a David Crawford Realtor

It’s pretty easy to see why buying a townhouse in Vancouver is a great decision. You get to experience the perfect balance of city and nature, making it a great place to raise a family. Once you’re ready to buy a house in Vancouver, David Crawford can help you find the best townhomes for sale.

Finding a townhouse for sale in Vancouver can be difficult due to high demand, but not for David Crawford. He has a quarter of a century’s worth of Vancouver realty experience. Contact a David Crawford realtor today to find your dream home!