
Here are 5 common home buying questions we get on a regular basis. If you have more questions about the Home Buying Process, you can find more info in our Buyers Guide.
Is right now the best time to buy a home?
What type of home is right for me? What’s the difference?
Do I need a real estate agent to purchase a home?
Should I seek the lowest mortgage interest rate?
Should I buy a home?
1. When is the right time to buy a home?
The economics on housing costs vary by market and it’s important to remember each area can be affected differently. When asking yourself “is right now the best time to buy?” there are many things to consider.The most important factor to consider is the reality of your financial condition. It’s easy to fall into FOMO (Fear Of Missing Out). So Regardless of the house price or interest rates, if you’re not financially prepared to purchase and maintain a home, then it might not be the right time for you.
2. What type of home is right for me? What are the different types?
Depending on your lifestyle wants and needs, you’ll have to decide which type of ownership is right for you. We’ve categorized the three most common home types to help you decide.Detached House: A freestanding house that does not share a wall with another house.
Attached House: A house that is attached on one or both sides to another house or houses. Attached homes include duplexes and townhouses.
Condo: Refers to purchased units in condominiums/apartment buildings. You can get a condo in a high-rise or a low-rise building.
3. Do I need a real estate agent?
Of course you can locate, negotiate and complete the home-buying process without an agent’s help. But unless you’ve bought and sold a number of homes in your lifetime, it is generally far more difficult and frequently more costly.When you choose the route of consulting a real estate agent - you get the benefits of their years of knowledge of the local real estate market and neighbourhoods. You also gain access to all of their connections and info on historical sales.
REALTORS® also get instant-access to all available and up-to date information on homes listed.
Most of all there is no cost to you as a buyer to hire an agent.
In the majority of cases, the Seller pays both 'sides' of the commission. This means that you are getting professional representation, at the Seller's expense.
The SIMS BLUE Real Estate Group has helped buy and sell thousands of homes in Metro Vancouver and the Fraser Valley, with specialized knowledge of White Rock and South Surrey Real Estate.
If you have questions about Buying a Home, please contact us.
Pros: You won’t pay more if interest rates go up.
Cons: You won’t pay less if they go down.
Variable Rate Mortgage: In a variable rate mortgage your interest rate is the current rate indicated. At specified intervals, your interest rate may change to reflect the current rate at that time. In that case, your monthly payments do not change for that time period.
Pros: If the interest rate falls, more of your payment goes towards the principal and less goes towards the interest.
Cons: If the interest rate rises, less of your payment goes towards the principal and more goes towards the interest.
You can also check out some of our other posts if you have questions about mortgages and financing:
Mortgage Application Tips
Monthly Home Budget Planner
Working with a Mortgage Broker
Evaluate your financial situation. Ensure you are educated on the real estate industry with facts, and remember, don’t buy if you can’t afford to.
Summary
We hope that these 5 frequently asked questions have helped kick start your home buying journey. There are many aspects of home ownership to consider, but armed with info from our Buyers Guide in combination with the right agent in your corner, your buying process can be an enjoyable and memorable experience!
And of course, please reach out to us if you have any questions.

Who are we? SIMS BLUE is a top producing, award-winning Real Estate Group with 40+ years of combined industry experience. We've helped buy and sell thousands of properties throughout Metro Vancouver, the Fraser Valley, and in particular, White Rock and South Surrey.
If you have any questions about Buying, Selling, or Investing, please contact us today.
Phone: 604-541-4888 or 1-800-226-8693
Email: info@soldbysimsblue.com
4. What type of mortgage do I need?
There are several types of mortgages to choose from. In order to choose the right one for you, you must understand the difference between them, below is a guide that will assist you in determining which one best suits your situation.Fixed Rate Mortgage vs. Variable Rate Mortgage
Fixed Rate Mortgage: In a fixed rate mortgage you agree on an interest rate with your lender and this rate gets locked-in for the term of the mortgage.Pros: You won’t pay more if interest rates go up.
Cons: You won’t pay less if they go down.
Variable Rate Mortgage: In a variable rate mortgage your interest rate is the current rate indicated. At specified intervals, your interest rate may change to reflect the current rate at that time. In that case, your monthly payments do not change for that time period.
Pros: If the interest rate falls, more of your payment goes towards the principal and less goes towards the interest.
Cons: If the interest rate rises, less of your payment goes towards the principal and more goes towards the interest.
You can also check out some of our other posts if you have questions about mortgages and financing:
Mortgage Application Tips
Monthly Home Budget Planner
Working with a Mortgage Broker
Financing FAQs
6. Should I Buy a Home?
Should you even buy a home? This may be the biggest question of all. Buying a home is one of the most exciting — and important — moments of your life. Your home is one of the most important investments you’ll ever make, it’s not just the roof over your head, it’s where you live, eat, sleep, play, and raise a family.Evaluate your financial situation. Ensure you are educated on the real estate industry with facts, and remember, don’t buy if you can’t afford to.
Summary
We hope that these 5 frequently asked questions have helped kick start your home buying journey. There are many aspects of home ownership to consider, but armed with info from our Buyers Guide in combination with the right agent in your corner, your buying process can be an enjoyable and memorable experience!
And of course, please reach out to us if you have any questions.
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Did you know this article and many others can be found in our comprehensive Buyers Guide?
Download the SIMS BLUE Buyers Guide.
Download the SIMS BLUE Buyers Guide.

Who are we? SIMS BLUE is a top producing, award-winning Real Estate Group with 40+ years of combined industry experience. We've helped buy and sell thousands of properties throughout Metro Vancouver, the Fraser Valley, and in particular, White Rock and South Surrey.
If you have any questions about Buying, Selling, or Investing, please contact us today.
Phone: 604-541-4888 or 1-800-226-8693
Email: info@soldbysimsblue.com