Buying a Vancouver Condo? Three Reasons Why You Absolutely Need a Great Home Inspector

Marci • August 16, 2014

Are you in the process of buying a condo in Vancouver? If you find the perfect property, would you hand over a great deal of money without knowing the unit’s condition? Any offer you make on a condo should contain an inspection clause. If you submit a competitive offer to buy the perfect condo with the perfect layout but you do not have an inspection clause, you’re walking in blind to an unknown situation. By requiring that the property and the common areas pass a pre-purchase inspection, you can protect your interests as a buyer. Before you skip the inspection process, here are 3 reasons to hire a respected and qualified inspector to examine the home:
Buying a Home

A Home Inspector Will Find Things You Wouldn’t Find

Unless you are buying from the most honest and trustworthy seller in Vancouver, your seller isn’t likely to blurt out the fact that they haven’t upgraded HVAC units or other elements that you will own once the deal is closed. You may have a broker that asks all of the right questions, but it is impossible to examine the condition of a Vancouver condo based on the listing information and answers that the seller’s representative has given to your questions. Even if you walk through the space yourself, it’s likely that you won’t spot every single problem the unit might have. A professional home inspector is trained to find a vast number of issues that laypeople would miss.

Save Money on Future Repairs

As soon as the keys are in your hands, it is your responsibility to maintain your unit and to repair any systems that break down. Many times, there are signs that a system will break down well before it actually does. An inspector is licensed to test electrical services, heating equipment, plumbing, hot water supplies, fireplaces and custom installations to determine if they are in working order. If they notice that a system is on the verge of breakdown or if the system needs to be updated, they will include this information in their report to you. You can then make a contingent offer to the seller – an offer that you will make the purchase if the seller completes the requested repairs. This saves you the time, money and trouble of fixing issues after the fact, so you can simply enjoy your new condo.

An Inspector Won’t Overlook the Common Areas and Maintenance Schedules

If this is your first time buying a condo, you may not be familiar with all of the building’s various policies. For instance, you may be responsible for the cost to repair a percentage of common areas when they are damaged. To ensure that there are not existing problem areas that can cost you a pretty penny out of pocket. You should review the council minutes to identify whether or not there are maintenance schedules and identify problem areas and ask the inspector for an opinion about these areas. The inspector will also travel through the accessible common areas to look for potential problems. This can save you a long and expensive legal fight later on.

A home inspection can save you money and prevent you from making an ill-informed purchase. There are lots of unscrupulous sellers who would love to unload a problem property on unsuspecting buyers, but with a professional inspector on your side, you won’t be walking into a disaster zone. For more information about buying Vancouver condos, hiring a great inspector or to examine your mortgage options, contact me by email today.

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Going Through a Divorce? Don’t Let Your Credit Take the Hit

By Marci Deane • August 12, 2026
Going Through a Divorce? Don’t Let Your Credit Take the Hit Divorce is stressful enough without adding financial fallout to the mix. Between lawyers, paperwork, and emotional strain, it’s easy to overlook how a separation can impact your credit. But your financial future depends on protecting it now—because long after the dust settles, a damaged credit score can linger. Here are a few smart steps to help keep your credit strong and your finances steady as you move forward. 1. Take Control of Joint Debts When it comes to joint debt, both parties are equally responsible—no matter what your divorce agreement says. If your ex misses a payment on an account with your name attached, your credit takes the hit too. Go through all joint credit cards, loans, and lines of credit. Wherever possible: Close joint accounts to stop future shared use. Transfer balances to the person responsible for repayment. Notify lenders in writing of any changes to account ownership. Once everything is updated, pull your credit report after three to six months to confirm all joint accounts have been closed and reporting correctly. Mistakes happen—stay proactive to prevent surprises later. 2. Open Your Own Bank Accounts Separation means financial independence, and that starts with your own banking. Open a new chequing account in your name only and redirect your pay deposits and bill payments there. At the same time, close any joint bank accounts and change passwords on existing online banking and credit profiles. Even in peaceful separations, shared access can cause confusion—or conflict. Protect yourself by ensuring your money and information are secure. 3. Start Building Credit in Your Name If most of your past credit was tied to your spouse’s name, now’s the time to establish your own. Apply for a small personal credit card or secured credit product . Use it sparingly and pay it off in full each month. This helps you build a solid individual credit history, setting the stage for future goals like buying a home, refinancing, or starting fresh financially. 4. Keep an Eye on Your Credit Monitor your credit report regularly for errors or unexpected changes. You can request free reports from both major credit bureaus in Canada— Equifax and TransUnion —once a year. Tracking your credit isn’t just about catching mistakes; it helps you see your progress as you rebuild your financial independence. Final Thoughts Divorce can be emotionally draining, but protecting your credit doesn’t have to be complicated. By taking a few careful steps now—closing joint accounts, building credit in your name, and monitoring your reports—you’ll safeguard your financial health and gain peace of mind as you start your next chapter. If you’d like personalized guidance on managing credit during or after a divorce, reach out anytime. I’d be happy to walk you through your options.

Employment and Mortgage Qualification: What Lenders Look For

By Marci Deane • August 5, 2026
When you apply for a mortgage, your employment history and status carry a lot of weight. Even if you feel secure in your job, lenders need proof that your income is reliable and will continue. To them, your employment status is one of the strongest indicators of whether you can make your mortgage payments long term. Here’s how lenders typically view different employment situations: Permanent Employment This is the gold standard. Once you’ve passed any probationary period and hold permanent status, lenders see you as a lower risk. It shows that your employer is committed to you, and your income is steady. Probationary Periods If you’re still on probation—usually 3 to 6 months, though sometimes longer—lenders may hesitate. That’s because your employer can end your contract without cause during this period. Once probation is over, you’re considered more secure. That said, context matters. If you’ve worked with the same company for years as a contractor and just transitioned into full-time employment, lenders may accept a letter from your employer confirming that probation is waived. Documentation is key here. Parental Leave Being on or about to take parental leave doesn’t mean you can’t qualify for a mortgage. As long as you have a letter from your employer guaranteeing your position and return-to-work date, lenders can use your regular salary—not your leave income—when assessing your application. Term Contracts This is one of the trickiest categories. Even highly skilled professionals with strong incomes can face challenges here. A term contract has a start and end date, which makes lenders question the stability of your future income. To use term-contract income, lenders generally want to see at least two years of history, or proof that your contract has already been renewed. The more evidence you can show of consistent employment, the stronger your case will be. The Bottom Line If you’re planning to apply for a mortgage, it’s important to understand how your employment status could affect your approval. Whether you’re starting a new job, coming back from leave, or working under contract, lenders want documentation that proves your income is reliable. 📞 If you’ve recently changed jobs or are planning a career shift, let’s connect. I can help you prepare your file so you qualify with confidence and avoid surprises in the approval process.

Deposit vs. Down Payment: Key Differences for Homebuyers

By Marci Deane • July 29, 2026
When you’re buying a home, two terms often cause confusion: deposit and down payment . While they’re related, they serve very different purposes in the homebuying process. Here’s what you need to know. What Is a Deposit? A deposit is the money you provide when you make an offer on a property. Think of it as a show of good faith that proves you’re serious about purchasing. How it works : Typically, you provide a certified cheque or bank draft that your real estate brokerage holds in trust. If your offer is accepted, the deposit remains in trust until the deal moves forward. If negotiations fall through, the deposit is refunded. Connection to your down payment : Once the sale is finalized, your deposit becomes part of your total down payment. Why it matters : The amount is negotiable, but a larger deposit can make your offer more attractive in a competitive market. Keep in mind, however, that if you back out after conditions are removed, you risk losing your deposit. What Is a Down Payment? Your down payment is the amount you contribute toward the purchase price of your home when securing a mortgage. Minimum requirement : In Canada, the minimum down payment is 5% of the home’s purchase price. Anything less than 20% requires mortgage default insurance. Sources : Down payments can come from your savings, the sale of another property, RRSP withdrawals (through the Home Buyers’ Plan), a gift from family, or even borrowed funds. Example: How They Work Together Imagine you’re buying a $400,000 home with a 10% down payment ($40,000). When you make your offer, you provide a $10,000 deposit . Once conditions are met, that deposit is transferred to your lawyer’s trust account. At closing, you add the remaining $30,000 to complete your full down payment. The lender provides the rest—$360,000—through your mortgage. The Bottom Line Your deposit shows commitment and secures your offer, while your down payment is what makes the mortgage possible. Together, they work hand in hand to get you into your new home. 📞 If you’d like clarity on deposits, down payments, or any other part of the mortgage process, let’s connect. I’d be happy to walk you through it step by step.