Home Buyers in Kelowna

Why buy with Ali?

I genuinely care about my clients and their long-term goals. I do all I can to remove the stress from a real estate transaction and make the process enjoyable-even fun! It begins with communication. I am easy to work with, happy to answer questions, and I explain the steps in the buying and selling process.

My friendly, organized approach extends to the entire industry. I collaborate with other sales associates, which is helpful in negotiations and opens the channels to learn about upcoming listings. Also, I have developed relationships with reliable mortgage brokers, home inspectors, and lawyers who I could recommend. Buying or selling a home is a significant step, which is why I suggest that you interview multiple agents. I want you to feel confident with your agent’s strategies and offerings.

It is important to enjoy being around your agent since you will be communicating with them often. If you select me as your REALTOR®, I will always keep your objectives in mind. I’d much rather talk you out of a sale than let you purchase something that you would later regret. My goal is to be your trusted advisor for life.

What is the typical home-buying process?

You are at the center of the home-buying process, so I begin with a discovery call to learn more about your goals. Perhaps you are looking for a home with a stunning view, proximity to a specific school, or a spacious backyard for children and pets. I also consider your goals in terms of the type of housing: you might be hoping to downsize, move up to a larger space, or find a good investment.

Based on that criteria, we dive into the current market conditions and discuss your financing position. If you require a mortgage, I suggest getting a pre-approval. This allows you to develop an accurate budget and target your house-hunting efforts. Also, when you do find your perfect home, it may receive multiple offers in a short period of time, so a pre-approval speeds up the process and increases your opportunity for success.

Based on your personal goals and budget, I provide real-time access to the MLS system, plus I can utilize my personal network to find listings that are exclusive or coming soon. Being among the first to know about a listing can make all the difference. Once we find “the one”, I utilize my contract management background to ensure we put together a strong offer that protects you from a wide range of contingencies. Using my strong negotiating skills, I draft an offer that delivers the best possible value.

When the purchase price and terms are agreed upon by both parties, I stay in close contact with you to obtain all the required services such as legal advice, a home inspection, final financing approval, review of strata documents, etc. I am available to answer any questions you may have to ensure you are comfortable with the process.

Once all the conditions are fulfilled and subjects are removed, and your deposit is paid, I remain in constant communication with you to ensure you have everything in order for a successful move. Just prior to the closing date, you will sign the final documents with your lawyer. We will do a final walkthrough of the property to ensure everything is in the same condition as we had previously viewed and, upon the possession date, you’ll receive the keys to your new home! I am honored to be part of your buying experience.

Buying Vacation Properties

Sparkling lakes, sandy beaches, snow-dusted mountains, and exceptional wineries are just some of the reasons why people from around the world are falling in love with the Okanagan Valley. Enjoy skiing in the winter, watersports in the summer, and miles of bike and hiking trails year-round. Kelowna, West Kelowna, and Lake Country offer golf, mountain biking, boating, skiing, hiking, art galleries, a symphony, sumptuous restaurants, and much more.

Let me show you locations that you will not find in any guidebook. During my several years in local real estate, I have discovered so many exceptional spots. Whether you are looking for a house, or turn-key condo for your vacations, I can help you find a property that meets your needs and does it in style.

What are the steps to buying a house in Kelowna?

Home buying checklist

1: Determine your budget The first step is to determine your budget by taking a close look at your finances and figuring out how much you can spend on a house. You can use my mortgage calculator to estimate your monthly payments.

2: Get pre-approved for a mortgage Once you know your budget, it’s a good idea to get pre-approved for a mortgage. This will give you an idea of how much you can borrow and help you determine what price range to focus on when looking for a home. It will also provide you with a competitive advantage against other prospective buyers.

3. Start Shopping, find a real estate agent who has experience in the Kelowna area and understands your needs and preferences. With your budget in mind, you can start looking for homes that meet your needs and preferences, considering factors such as location, size, amenities, and condition.

4: Make an offer Once you’ve found a home you like, it’s time to make an offer. Your real estate agent can help you draft a formal offer that includes the price you’re willing to pay, any contingencies, and other terms and conditions.

5. Have the home inspected & cover any other conditions to the sale Before you finalize your purchase, it’s important to have the home inspected by a professional inspector. This will help you identify any potential issues or repairs that need to be made. During this time you’ll also want to cover any of your other conditions such as final financing approval, legal advice, strata document review, due diligence, etc.

6: Finalize the sale Once you’ve fulfilled all of your conditions, it’s time to finalize the sale. Your lawyer or notary will handle the legal paperwork and transfer of ownership. Finally, once the sale is complete, it’s time to move into your new home. You’ll need to arrange for utilities and other services and make any necessary repairs or renovations to make the house feel like home.

How to budget for a new house?

Buying a home in Kelowna, BC Canada can be an exciting and rewarding experience, but it’s important to determine your budget before you start house hunting. Here’s how to do that easily.

Calculate your monthly expense.

Start by calculating your monthly expenses, including rent, utilities, transportation, food, and other expenses. This will give you an idea of how much you can afford to spend on a mortgage payment each month.

Determine your debt-to-income ratio

Your debt-to-income ratio is the percentage of your monthly income that goes towards paying off debt. This includes credit card debt, car loans, and student loans. Ideally, your debt-to-income ratio should be below 36%. Calculating your debt-to-income ratio (DTI) is an important step in determining your budget for buying a home in Kelowna, BC Canada. Here’s how to do it: Add up your monthly debt payments: Start by adding up all of your monthly debt payments, including credit card payments, car loans, student loans, and any other debts you have.

Calculate your monthly gross income: Your gross income is your total income before taxes and other deductions are taken out. Calculate your monthly gross income by adding up your income from all sources, such as your salary, bonuses, and any other income you receive.

Divide your total debt payments by your monthly gross income: Once you have your total monthly debt payments and your monthly gross income, divide your total debt payments by your monthly gross income. This will give you your debt-to-income ratio as a percentage.

For example, if your monthly debt payments total $1,000 and your monthly gross income is $4,000, your DTI would be 25% ($1,000 / $4,000 x 100). A DTI of 36% or less is generally considered good and means you have a manageable amount of debt.

A DTI above 36% may indicate that you have too much debt and could make it difficult to obtain a mortgage or afford a home.

Consider your down payment

The larger your down payment, the lower your monthly mortgage payment will be. Determine how much you can afford to put towards a down payment.

Getting pre-approved for a mortgage will give you an idea of how much you can afford to borrow. This will help you determine what price range to focus on when looking for a home. Factor in other costs In addition to your monthly mortgage payment, you’ll need to factor in other costs such as property taxes, home insurance, and maintenance expenses. Be sure to consider these costs when determining your budget.

By following these steps, you can determine a budget for buying a home that is realistic and manageable. Consult with a financial advisor or mortgage broker to help you make informed decisions about your budget and financing options.

How to find the right mortgage broker?

Selecting the right mortgage broker can make a significant difference in the home-buying process.

Do your research. Start by asking for recommendations from your agent, or family, friends, and colleagues who have recently bought a home. You can also look for online reviews and ratings to get an idea of a broker’s reputation and track record. Look for a mortgage broker who has experience in the Kelowna area and can provide you with information about the local real estate market, property values, and other relevant factors.

Consider their communication skills. Choose a broker who is responsive and communicates clearly. They should be available to answer your questions and keep you updated on the progress of your mortgage application. Check their credentials, ensure that the mortgage broker you choose is licensed and registered with the appropriate regulatory bodies. This will give you peace of mind knowing that they are qualified and accountable. Compare rates and fees Shop around and compare the rates and fees offered by different lenders. Don’t be afraid to negotiate fees or ask for a better rate.

Trust your instincts Finally, trust your instincts and choose a mortgage broker who you feel comfortable working with and who you believe has your best interests in mind.

“A good mortgage broker can help you find the best mortgage for your needs and save you time and money in the long run” – Ali

How do you make an offer on a house?

Determine your offer price, consider the current market conditions, the condition of the home, and recent sales of similar properties in the area to determine your offer price. Include conditions. When making an offer, you can include conditions that must be met before the sale is finalized, such as a satisfactory home inspection or financing approval.

Determine the deposit amount Once you remove all of your conditions, you’ll be required to pay an agreed-upon deposit amount as a sign of good faith that you’ll be moving forward with the purchase. This amount will go towards your down payment amount.

Be prepared to negotiate

The seller may counter your offer with a different price or different conditions. Be prepared to negotiate and work with your agent to come to a mutually agreeable outcome. Once your offer is accepted, it’s imperative that you work towards fulfilling your conditions in a timely manner.

Be sure to lean on your agent’s experience to assist you in navigating through this process. Making an offer on a house is a legally binding process. It’s important to work with a reputable real estate agent and consult with a lawyer to ensure that you fully understand the terms and conditions of your agreement.

“I’ve handled hundreds of contracts throughout my experience and can help you navigate the offer process with confidence, ensuring that your offer is fair and competitive” Ali

Home Inspection

A home inspection is an important step in the home-buying process, it is a thorough examination of the property’s condition, including its structure, systems, and components. Here’s the process for a typical home inspection: Hire a home inspector Start by hiring a reputable home inspector who is licensed and insured.

Need an inspector?

I can provide you with top recommendations. Once you have hired a home inspector, schedule the inspection at a time that is convenient for you and the seller. It’s a good idea to attend the inspection debrief so that you can ask questions and see any issues first-hand.

Inspection day

On inspection day, the inspector will examine the exterior and interior of the property, including the roof, foundation, plumbing, electrical, heating and cooling systems, and appliances. The inspector will also check for signs of pests, mold, and other issues.

Review the report

After the inspection, the home inspector will provide you with a detailed report that outlines any issues or defects found during the inspection. The report will also include recommendations for repairs and maintenance.

Negotiate repairs

If the inspection report reveals significant issues or defects, you may wish to negotiate repairs with the seller. I’ll help you navigate this process and ensure that your interests are protected.

Final walkthrough

Before closing on the property, you should conduct a final walkthrough to ensure that any repairs agreed upon have been completed satisfactorily.

“It’s important to take the time to hire a reputable inspector so that you can move forward confidently with your purchase without the fear of unexpected surprises arising down the road.” – Ali

Finalizing the sale

It’s important to ensure that all the necessary steps are taken to ensure a successful transaction. Here’s what you need to do:

Secure your financing

Before you can finalize the sale, you must ensure that your financing is in order. Even with a pre-approval in place, it’s likely that the lender will require more documents from you at this time. An appraisal may also be required. Do not sign off on this condition until you receive the green light from your broker.

Complete the home inspection

Complete the home inspection and negotiate any necessary repairs with the seller.

Secure home insurance coverage to protect your investment

Securing home insurance is an important step in protecting your investment and ensuring that you’re prepared for any unexpected events.

Fulfill any other conditions of the sale

Ensure you complete any other obligations of your contract such as obtaining legal advice, reviewing strata documents, and any due diligence documents from the City and/or municipality to ensure you are fully comfortable moving forward with the sale.

Submit your deposit

Once you are satisfied and have removed all of your Buyer Conditions, your deposit will be due (depending on the agreed-upon timeline within the contract). Ask your agent for detailed instructions on how and where to submit the deposit.

Conduct a final walkthrough

Check the property to ensure that all repairs have been completed to your satisfaction and that the property is in the same condition as when you made the offer.

Close the sale

Prior to the closing date, your lawyer will schedule a meeting for you to sign the necessary documents and pay any outstanding balances pertaining to the purchase. The title of the property will then be transferred to your name, and you’ll receive the keys to your new home!