Buying a Vancouver Condo? Three Reasons Why You Absolutely Need a Great Home Inspector

Marci • August 16, 2014

Are you in the process of buying a condo in Vancouver? If you find the perfect property, would you hand over a great deal of money without knowing the unit’s condition? Any offer you make on a condo should contain an inspection clause. If you submit a competitive offer to buy the perfect condo with the perfect layout but you do not have an inspection clause, you’re walking in blind to an unknown situation. By requiring that the property and the common areas pass a pre-purchase inspection, you can protect your interests as a buyer. Before you skip the inspection process, here are 3 reasons to hire a respected and qualified inspector to examine the home:

A Home Inspector Will Find Things You Wouldn’t Find

Unless you are buying from the most honest and trustworthy seller in Vancouver, your seller isn’t likely to blurt out the fact that they haven’t upgraded HVAC units or other elements that you will own once the deal is closed. You may have a broker that asks all of the right questions, but it is impossible to examine the condition of a Vancouver condo based on the listing information and answers that the seller’s representative has given to your questions. Even if you walk through the space yourself, it’s likely that you won’t spot every single problem the unit might have. A professional home inspector is trained to find a vast number of issues that laypeople would miss.

Save Money on Future Repairs

As soon as the keys are in your hands, it is your responsibility to maintain your unit and to repair any systems that break down. Many times, there are signs that a system will break down well before it actually does. An inspector is licensed to test electrical services, heating equipment, plumbing, hot water supplies, fireplaces and custom installations to determine if they are in working order. If they notice that a system is on the verge of breakdown or if the system needs to be updated, they will include this information in their report to you. You can then make a contingent offer to the seller – an offer that you will make the purchase if the seller completes the requested repairs. This saves you the time, money and trouble of fixing issues after the fact, so you can simply enjoy your new condo.

An Inspector Won’t Overlook the Common Areas and Maintenance Schedules

If this is your first time buying a condo, you may not be familiar with all of the building’s various policies. For instance, you may be responsible for the cost to repair a percentage of common areas when they are damaged. To ensure that there are not existing problem areas that can cost you a pretty penny out of pocket. You should review the council minutes to identify whether or not there are maintenance schedules and identify problem areas and ask the inspector for an opinion about these areas. The inspector will also travel through the accessible common areas to look for potential problems. This can save you a long and expensive legal fight later on.

A home inspection can save you money and prevent you from making an ill-informed purchase. There are lots of unscrupulous sellers who would love to unload a problem property on unsuspecting buyers, but with a professional inspector on your side, you won’t be walking into a disaster zone. For more information about buying Vancouver condos, hiring a great inspector or to examine your mortgage options, contact me by email today.

< Older Post Newer Post >

Breaking Down the Real Costs of Homeownership

By Marci Deane • November 26, 2025

Don’t Forget About Closing Costs When planning to buy a home, most people focus on saving for the down payment. But the truth is, that’s only part of the equation. To actually finalize the purchase, you’ll also need to budget for closing costs —the out-of-pocket expenses that come up before you get the keys. Closing costs can add up quickly, which is why they should be part of your pre-approval conversation right from the start. Lenders will even require proof that you’ve got enough funds set aside. For example, if you’re getting an insured (high-ratio) mortgage, you’ll need at least 1.5% of the purchase price available in addition to your down payment. That means a 10% down payment actually requires 11.5% of the purchase price in cash to make everything work. Let’s break down some of the most common expenses you should prepare for: 1. Home Inspection & Appraisal Inspection : Paid by you, this gives peace of mind that the property is in good shape and doesn’t have hidden problems. Appraisal : Required by the lender to confirm value. Sometimes this is covered by mortgage insurance, sometimes by you. 2. Legal Fees A lawyer or notary is required to handle the title transfer and make sure the mortgage is properly registered. Legal fees are often one of the larger closing costs—unless you’re also responsible for property transfer tax. 3. Taxes Many provinces charge a property or land transfer tax based on the home’s purchase price. These fees can range from hundreds to thousands of dollars, so you’ll want to factor them in early. 4. Insurance Property insurance is mandatory—lenders won’t release funds without proof that the home is insured on closing day. Optional coverage like mortgage life, disability, or critical illness insurance may also be worth considering depending on your financial plan. 5. Moving Costs Whether you’re renting a truck, hiring movers, or bribing friends with pizza and gas money, moving comes with expenses. Cross-country moves especially can be surprisingly pricey. 6. Utilities & Deposits Setting up new services (electricity, water, internet) can involve connection fees or deposits, particularly if you don’t already have a payment history with the utility provider. Plan Ahead, Stress Less This list covers the big-ticket items, but every purchase is unique. That’s why it pays to have an accurate estimate of your personal closing costs before you make an offer. If you’d like help planning ahead—or want a breakdown tailored to your situation—let’s connect. I’d be happy to walk you through the numbers and make sure you’re fully prepared.

Why a Mortgage Pre-Approval Protects Both Your Head and Your Heart

By Marci Deane • November 19, 2025

Why a Mortgage Pre-Approval Protects Both Your Head and Your Heart There’s no denying it—buying a home is an emotional journey. In a competitive market, it can feel like you need to stretch beyond your comfort zone or bid above asking just to have a chance. That pressure can make it hard to separate what you want from what you can realistically afford. One of the biggest pitfalls buyers face is falling in love with a home that’s outside their price range. Once that happens, every other property seems like a compromise—even the ones that might have been a perfect fit otherwise. The best way to avoid this heartache? Get pre-approved before you start shopping. What a Pre-Approval Does for You A mortgage pre-approval gives you more than just a number—it provides clarity, confidence, and protection: Know your buying power : Shop within your true price range and avoid disappointment. Spot potential roadblocks : Uncover issues like credit bureau errors before you make an offer. Get organized : Learn exactly what documentation you’ll need so there are no surprises. Lock in a rate : Many lenders hold your rate for 30–120 days, giving you peace of mind if rates rise. Save yourself heartache : Protect yourself from falling for a home you can’t afford. Head vs. Heart Buying a home is about balance. Your head tells you what’s financially sound, your heart tells you what feels right—and both matter. A pre-approval helps bring those two sides together, so you can make confident choices without emotional stress clouding your judgment. The Bottom Line Looking at properties for fun is one thing—but if you’re serious about buying, a pre-approval is the smartest first step you can take. It sets realistic expectations, saves time, and protects your emotions along the way. If you’d like to explore your options and get pre-approved, I’d be happy to walk through the process with you. Let’s make sure you’re ready to shop with confidence.

Co-Signing a Mortgage in Canada: Pros, Cons & What to Expect

By Marci Deane • November 12, 2025

Co-Signing a Mortgage in Canada: Pros, Cons & What to Expect Thinking about co-signing a mortgage? On the surface, it might seem like a simple way to help someone you care about achieve homeownership. But before you sign on the dotted line, it’s important to understand exactly what co-signing means—for them and for you. You’re Fully Responsible When you co-sign, your name is on the mortgage—and that makes you just as responsible as the primary borrower. If payments are missed, the lender won’t only go after them; they’ll come after you too. Missed payments or default can damage your credit score and put your financial health at risk. That’s why trust is key. If you’re going to co-sign, make sure you have a clear picture of the borrower’s ability to manage payments—and consider monitoring the account to protect yourself. You’re Committed Until They Can Stand Alone Co-signing isn’t temporary by default. Even once the initial mortgage term ends, you won’t automatically be removed. The borrower has to re-qualify on their own, and only then can your name be taken off. If they don’t qualify, you stay on the mortgage for another term. Before agreeing, talk openly about expectations: How long might you be on the mortgage? What’s the plan for eventually removing you? Having these conversations upfront prevents surprises later. It Affects Your Own Borrowing Power When lenders calculate your debt service ratios, the co-signed mortgage counts as your debt—even if you never make a payment on it. This could reduce how much you’re able to borrow in the future, whether it’s for your own home, an investment property, or even refinancing. If you see another mortgage in your future, you’ll want to consider how co-signing could limit your options. The Upside: Helping Someone Get Ahead On the positive side, co-signing can be life-changing for the borrower. You could be helping a family member or friend buy their first home, start building equity, or take an important step forward financially. If handled with clear expectations and trust, it can be a meaningful way to support someone you care about. The Bottom Line Co-signing a mortgage comes with both risks and rewards. It’s not a decision to take lightly, but with careful planning, transparency, and professional advice, it can be done responsibly. If you’re considering co-signing—or want to explore safer alternatives—let’s connect. I’d be happy to walk you through what to expect and help you decide if it’s the right move for you.