First Time Buys FAQ’s

How does a Realtor help me?

All the details involved in home buying can be overwhelming. I can guide you through the entire process and make the experience much easier. I will be able to answer all your questions as they come up and provide you with any required information. My job is to be your consultant, negotiator and handle all the transaction details. My services don’t cost you anything as a buyer; the seller pays a commission once the property is sold.

Do I need to look with more than one agent?

No, I have access to all the listings in the Whistler & Pemberton area and will keep you informed of anything that matches what your criteria. Once I earn your trust and you are confident in my abilities I ask that you remain loyal to me. I will put a lot of time and effort into finding you a place and I do not get paid until the transaction completes. In return for my efforts, I deserve a degree of loyalty from you. If you aren’t happy with my help, just let me know and you are welcome to work with another agent.

What are resident restricted properties? Are these different than WHA properties?

Anyone can own this type of property but it must be occupied by a Whistler resident or retiree. They differ from Whistler Housing Authority in that there is no waitlist and they are not price restricted. This means the value can go up like the rest of the market and are not capped.

What is a realistic number of properties I should view prior to deciding?

On our first tour we will try to view between 4-6 properties that match your criteria. If you don’t see anything you like, it is best to keep looking at new listings that come on the market until you find one you’re interested in.

How should I decide which home to choose?

First whichever fits your budget and second whichever one you can picture yourself living in long term. Home ownership is usually the biggest financial investment you will make in your lifetime so you deserve to be satisfied.

When I write an offer what is included in the property?

All appliances are usually included as well as anything that is affixed (such as blinds, light fixtures, etc.). Furniture may be negotiable.

How do deposits work?

Deposits are 5-10% of the purchase price and usually due partially on acceptance and partially on subject removal (once it is a firm and binding offer). The deposit is kept in our trust account. By law we hold the funds as an impartial party. If you do not remove your subjects the deposit is returned to you. The deposit forms a portion of your down payment is not an amount you need to come up with in addition to your down payment.

Should I get a property inspection?

Yes, it will give you an independent 3rd party opinion about the physical property and what repairs may need to be done immediately or in the near future. An inspection will also reveal any potential problems with the property.

What are the costs of purchasing?

Inspection – approx $500

Lawyer Fees – approx $1,500

Property Transfer Tax – 1% on the first $200,000 and 2% on the remainder. First time home buyers may be exempt if it is your primary residence and the purchase price is under $425,000

What are the ongoing costs of home ownership?

Property Taxes – paid to the Municipality of Whistler.

Strata Fees – Monthly maintenances fees for expenses of the common property of your complex. Some examples of expenses are snow removal, landscaping, exterior paint, roof, deck maintenance, etc.

Hydroelectricity – paid to BC Hydro.

Homeowner’s Insurance – to protect against fires, break-in, pipe leaks, etc.

What are the benefits of home ownership?

Tax benefits – When it comes time to sell, Canadian taxpayers don’t have to pay capital gains tax if their principal residence increases in value.

Pride of ownership.

A financial asset that will appreciate over time.

First time buyers can use their RRSPs (up to $25,000/individual) to assist in the purchase.

Are you ready to buy a home?

Do you regularly save your money and do you currently have a savings account for the deposit?

Are you willing to change your spending, life-styles habits if you incur additional costs for maintenance of your home? (Ie. The fridge breaks down and you have to buy a new one.)

Do you have a good credit rating and have you been pre-approved for a mortgage?

Are you ready for a long term commitment to living in Whistler or Pemberton?

Is pride of ownership and having assets important to you? Would you like to take care of a home?

Contact Amber




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