Located in the Fraser Valley between the Cascades and the Coast Mountains, Abbotsford is BC’s largest municipality, nestled on the outskirts of Greater Vancouver. It is one of the most beautiful regions of the province and an ideal place to live. The place has excellent housing options and features. You can find the most affordable alternatives in this region if you look forward to living in Vancouver.
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Things To Consider Before You Buy Your House In Abbotsford
Take your decision based on the following factors to ensure you get the best deal for a home purchase in Abbotsford.
Budget
Your affordability is one of the most important determining factors when buying a residential property.
Make sure to figure out your budget before looking for deals. If you plan to buy the property on a mortgage, calculate what amount you can easily afford to pay in monthly installments. Keep room for unexpected expenses. It is not advised to go beyond your budget, even if you look forward to signing up for the mortgage.
Price Of Property
It is the next important factor that plays a huge role in determining how big or small property you can buy in a specific area. Compare prices of properties in the area to get an idea of the amount you’ll need to buy your house in Abbotsford. Plus, consider other factors such as utilities, lifestyle, and transportation when looking for potential deals.
Also, focus on the property price appreciation rate in the area. Avoid buying the property when there is a lot of fluctuation in the market. The ideal time for investing in a residential property is when the prices are stagnant for a certain period. Find your deals before the prices start rising again.
Condition Of The House
Take your time and check the property’s condition. A thorough check is important to learn about the property’s potential problems (if any). Check for animal smells, mould, pest problems, hollow-sounding walls, and other potential issues. Ensure the toilet flushes, air-conditioning, or heating system are working properly.
The water pressure in the house should be satisfactory, and the appliances should work smoothly. Don’t hesitate to ask the concerned person or professional your doubts or queries. These are the most important factors that will greatly impact your decision to buy a house in Abbotsford.
Cost Of Insurance
The insurance cost of a home depends on various factors such as location, fire issues, replacement cost, etc. The cost of rebuilding a property or replacing the contents therein greatly impacts the insurance cost. Besides, if you choose a house in an area with a high chance of wildfires or flooding, your insurance cost is likely to be high.
On average, the cost of home insurance can be anywhere between $1500-1700 for a year. Homes at a specified distance from a fire station or a fire hydrant are likely to get good discount offers. All of these factors impact the cost of the premium. Learn about the home insurance rates in the area before making any decision.
Property Size
The size of the property plays a crucial role in determining its value. It should be spacious enough to meet your individual and family needs. You wouldn’t want to invest in a property that’s too large or too small for your specific requirements.
Considering the number of bathrooms, bedrooms, and kitchen sizes are important points to consider when looking for deals to buy your house in Abbotsford BC. Most importantly, think about the space you may need now and in the future.
Consider The Surrounding Neighbourhood
The surrounding neighborhood and location of the property impact its value to a huge extent. Hence, it is advised to do your research before exploring your options. Find out its proximity to shopping centers, schools, etc. Is the neighborhood noisy or tolerable? The idea is to collect detailed information on the property you are willing to buy.
It’s advised to make an informed decision when purchasing a home. It’s best to contact a mortgage broker and local real estate agents to learn about the housing market in the area.
Ease Of Commuting And Access To Transportation Facilities
Abbotsford is located in the Lower Mainland area. The real estate prices here are comparatively low, making it one of the most desirable destinations for retirees and young families. However, that doesn’t mean you have been completely cut off from big neighboring cities such as Vancouver.
Downtown Vancouver can be reached within an hour’s drive from Abbotsford. You can easily reach there by public transit. Alternatively, you use a combination of trains and cabs to reach your destination. So make sure to buy a property in an area with good public transport facilities. Also, commuting from your residential place should be hassle-free. Abbotsford also has an International Airport.
Look for property options that are close to the airport. You wouldn’t want to spend a huge chunk of your money on transportation and commuting. If you own a car, you can easily visit the interior regions of BC. However, the ease of commute also depends on the areas where you buy a house in Abbotsford, BC.
Buy Your House In Abbotsford — Endnote
Buying a residential property is a big decision. Take your time and consider all the above factors to find a perfect house that fulfills your happiness while meeting your social needs. Know about the current and future state of the community in the area. It should match your living standards and expectations. Plus, research and collect details on the nearby developments.
Go through government updates and news. Most importantly, check the crime and poverty rates in the area. Weigh the pros and cons of every detail available to you. Attending open houses is a good way to get a better idea of the properties available in the area. It will give you a feel for each community and narrow your options. Take note of the negatives and positives to make the right decision when buying property.
