This Week in Real Estate #003 – Looking to Purchase a Home? Real Estate Tips for First Time Buyers

(February 15, 2014 )

Do you know what to consider when deciding on an area to buy your next home? Are you aware of the difference between the different areas of Greater Vancouver? Would you like to know what areas are hottest for first time buyers? If you are looking for a new home and haven’t considered these real estate tips for first time buyers, then you could be missing out on the home of your dreams.

The real estate industry has changed dramatically over the past several years, and home buyers who keep up with the market are rewarded with great homes in choice areas. Does that sound like the type of home you’d like to buy?

If you’re ready to put down roots but aren’t sure where to begin, then spend 20 minutes listening to This Week in Real Estate, where host Nick Jaworski interviews Lance Marples from Sutton West Coast Realty about what is happening in the real estate market on the Peninsula, hot areas for first time buyers, and more.

First time home buyers in White Rock and surrounding areas are at an advantage. The Canadian Real Estate Association reports* that while home sales were down for most of the country, real estate activity gained momentum in the Greater Vancouver and Fraser Valley areas.

Knowing the Various Greater Vancouver Communities

The episode begins with Lance explaining examples of the areas people actually refer to when they say they live somewhere like White Rock or South Surrey. He uses specific landmarks so listeners know exactly what he means when he describes the areas that make up the Peninsula and mentions communities like Crescent park, Ocean Park, White Rock, Morgan Creek, and Grandview.

Next Lance explains that to know how the market is doing, it is important to watch statistics like the sales-to-listings ratio which compares how many houses sell in a month per how many hundred are currently listed within that area. Then he uses these statistics to explain how the market in this area is doing right now.

If you’re a first time buyer looking for a home that’s a good investment, then you have the advantage of choosing from premier homes in hot areas.

The Peninsula Offers Hot Real Estate Areas for First Time Buyers

The discussion then turns to the topic of hot areas in the Peninsula for first time buyers. Lance explains the term “first time buyer in the Peninsula” and goes on to describe how the same type of house might drastically vary in price between two areas, like North Surrey and South Surrey. During the discussion Lance also addresses the following:
  • What areas do real estate agents mean when they say “The Peninsula”?
  • How is the real estate market in the Peninsula and its adjoining areas?
  • What types of things should I consider before buying my first home?
  • Which Peninsula communities offer the most benefits for my family?
  • What are alternatives to brand new homes if I want to buy here?
Lance discusses other real estate tips for first time buyers, including how economics affect the value of homes for sale and the types of families most likely to buy homes of certain values. These tips are not to be missed because each one could potentially affect the value of your future home.

First Time Buyers Need to Consider More than the Price

Next Lance talks about some of the other things that first time buyers should consider before purchasing real estate, like educational facilities in the area. Many families select their home based on the educational needs of their children. Lance discusses various private and public school options, as well as the International Baccalaureate program.

Public transport is not a huge draw in the Peninsula and surrounding areas, but access to the beach and other attractions are things to consider when looking at buying a home in the area. Lance offers additional real estate tips for first time buyers like benefits of buying in the Pacific, Douglas, and South Meridian areas, like the average house prices in Surrey.

Then Lance goes on to explain the value of the land versus the value of the land with an existing home, and the difference between infill developments versus brand new ones. If you’re not looking at all your options when buying a home, then your dream home may not even be on your list.

Lance wraps up the episode with an explanation of where listeners can expect to see the most growth in this area, including new homes and schools, as well as how having a school within a community can affect the value of the homes built there.

Are You Ready to Buy a Home in the Peninsula?

Could you use more real estate tips for first time buyers before deciding which home to buy? Are you sure you understand all the different locations around The Peninsula? Listen to the entire podcast now and then please share your comments in the area below.

Lance and Connie Marples are a high energy team with the real estate experience to help their clients achieve their real estate goals, whether they’re buying or selling. Give Lance and Connie a call at (604) 538-8888 with all of your real estate questions and needs.

Marples Marketing Group
Sutton Group – West Coast Realty
15595 24th Ave
Surrey, BC
V4A 2J4

Lance Marples
Office: (604) 538-8888
Mobile: (778) 840-1500

Connie Marples
Office: (604) 538-8888
Mobile: (778) 840-1700