It’s 2013 and thankfully the world did not end with the Mayan Calendar. The online world and the media were abuzz with reports about the possible collapse of life as we know it which got me thinking about where people tend to get their information. In today’s hyper pace world, due diligence is increasingly overlooked as we simply react to snippets of information often representing only 25% of the story. When making an important decision like buying a home, it’s a good idea to also consider where your information is coming from. Uncle Bob might be a great chemistry teacher but he might not be a financial whiz.

In today’s hyper pace world, due diligence is increasingly overlooked as we simply react to snippets of information often representing only 25% of the story.

In the last issue I offered some suggestions on how to select a realtor. A realtor is expected to understand the market and the buying process to give you reliable information. As you meet with various realtors you will start to get some good information. But don’t stop there.

Using multiple sources is an important way to make a well-rounded decision, particularly with such an important purchase. Speak to your financial planner or interview a few who can be relied upon to offer some sound advice about your financial position and how to reach your financial goals. Next, meet with a few mortgage brokers to understand where rates are going and what your mortgage options are. Lawyers who specialize in real estate, appraisers and house inspectors are also great resources. Speak with people in your circle that you respect and trust who have made good decisions either about housing or finances. The key in all of this is to ask lots of questions to a few people in each field so that you can feel confident in your decision and trust your instincts. 

At the end of the day, buying a home is the largest financial decision you will make in life. Do your own thorough due diligence and you should reap the rewards. 

Cameron McNeill

[pictured: Asking realtors for referrals to homeowners who have recently purchased in a community that interests you is a great source of information. The James project, pictured here, comes highly recommended by a recent homeowner who also happens to be a realtor! \"As a Vancouver Realtor, I have seen a lot of product, and I have always been impressed with the Cressey finishings and amenities. Being exactly in the location I was after, being built by Cressey and having killer amenities (entire roof top common area!) made my decision to purchase at James very easy.\" –Pete Shpak, Loft B]