Home Buying Resources

DO IT YOURSELF

  • You find properties on MLS w/realtor.ca. 
  • You make enquiries.
  • You book viewings.
  • You're Unrepresented.
  • No Buyer Agreement.

DONE WITH YOU

  • We find properties on MLS w/collaboration.  
  • We make enquiries. 
  • We book viewings.
  • You're Represented.
  • No Buyer Agreement.

DONE FOR YOU

  • I find properties on MLS and off market.
  • I make enquiries.
  • I book viewings.
  • I advise on pricing.
  • Buyer Agreement.
  • Negotiate for you

FAQ's for homebuyers

When's the best time to buy a house?

The best time to buy a house is whenever you are ready! It sounds cheesy, but it’s true. 

The market ebbs and flows with the changing of the seasons here in Vancouver, and there are pros and cons to each season.

For example, the Spring market provides more inventory to choose from but the market is substantially more competitive. In Winter, there are less houses on the market, but there is also less competition (less folks want to move in the winter).

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What exactly are the closing costs?

Closing costs are fees and expenses that you pay when you close on your house, beyond the down payment. They include things like title insurance, homeowners insurance, appraisals, taxes and more.

The closings costs for Canadian residents are typically around 2.5% of the purchase price. Your lawyer and accountant will be able to give you a more accurate estimate of your actual closing costs. Foreign buyers are currently subject to an additional 20% tax. 

Click here for a free PDF of all the closing costs

Do I need 20% down to buy a house?

No you do not need 20% down to buy a home. Unless of course it is over 1 million dollars. Some lenders will ask for a minimum of 25% over 1.5 million.

With conventional loans you can have as little as 5% down. CMHC loans are similar, and have better terms for folks with lower credit scores or high debt-to-income ratios. With less money down other things will arise with your monthly payment though, like Private Mortgage Insurance (PMI).

This is all stuff you will talk to a lender about! A good lender will go through your finances with you and talk over all of your options.

Click here to see how much your payments will be

Do I pay my Realtor's commission?

Typically, no.

Most of the time the seller pays for both the Listing Agent’s commission and the Buyer’s Agent’s commission.

The only thing you will have to make note of is that some brokerages charge an admin fee. These range from $300-700 dollars and go directly to your agent’s brokerage, not into their own pocket. They typically help support full time office admin roles and other brokerage expenses.

What additional costs are there?

There are a few additional costs to consider besides your downpayment when buying a home.

The first thing to note are closing costs. While we can negotiate who will pay these, they will still have to be paid at the time of closing. They are typically around 3% of the purchase price.

Secondly, home inspections are always highly recommended! They start at $500. Your Realtor will have a few great recommendations.

There are two other optional inspections that have gained traction over the years and these are Radon Testing and Oil Tank Scans. Both are around $250 each.

As noted in the question box above, a majority of brokerages have administrative fees. These can range from $300-700 dollars and go directly to your agent’s brokerage, not into their own pocket. They typically help support full time office admin roles and other brokerage expenses.

And other than any additional moving expenses you may have, that is it!

What's the average price of a home in Vancouver?

Typically the actual median price of homes better reflects the most common price, compared to the “average” price. Check out a live graph of the median sales price of single family homes in Vancouver HERE

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Fun fact
Did you know, on average.. buyers look at 12 homes before they find the right home to buy?

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“Although I was prepared to make a higher offer, Tom’s expertise helped  me purchase my home for even less” – Blair, K (Buyer Side)

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Why Purchase with Tom Ikonomou?

1st, a track record of  matching Buyers and Properties.”

Ikonomou Knows Vancouver Homes

Locating the perfect home isn't always an easy task but rewards are unquestionable.

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“Tom was very professional and helped me find and get my place. I will recommend Tom to help you find the place of your dreams!” Luis, Adamo (Buyer Side)

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We access all (on and off) market listings.

  • Tom makes purchasing a home easier,
  • More enjoyable, less time-consuming, and less expensive 
  • He'll help you locate and assess properties for sale 
  • Help you through the myriad of details attending the actual purchase.

2nd, Superior negotiation skills

Tom Ikonomou walks the walk..

Ikonomou Knows Vancouver Homes

Tom will personally present, thoroughly review, negotiate and manage the presentation of all offers.

Negotiating a contract can be intimidating when you let your emotions get in the way.

Sure you can go at it alone, but a successful negotiation starts with having the knowledge and experience of an agent on your side.

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3rd, Personalized service and reliability

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Ikonomou Knows Vancouver Homes

First time home buyer or seasoned investor?... we'll personalize your real estate experience just for you.

"Tom worked very hard for us and did not quit until we got the best deal and best price saving us tens of thousands of dollars.

Very friendly and Charismatic energetic person and real go out and getter working hard for us."

John S. (Home buyer & Seller)

4th, Engage with Tom direct 24/7

You can reach me anytime by calling/texting (778-879-8366) email tom@tomikonomou.com I respond personally to all. Simply call my name...and I'll be there!

5th, True market price guidance

Your Real Estate Experience Matters!

Tom Ikonomou provides you with true market price guidance when negotiating your home transaction so that you will be comfortable and confident with your offer.

If you're not happy in your home within a year, I'll list it for FREE!

The following will help you on your journey to find your new home at the best possible price.

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.