Top mistakes when buying

Top 10 Mistakes Buyers Make

6. Not being ready
Buying a home is a process, it may take time, but be ready to like the first home you see. Make a “need to have” list and a “nice to have” list but be ready to compromise.

7. Waiting
Start looking now. Prices are increasing and closing dates are negotiable. Home investments compare favourably to bank rates

8. Not looking at space
Look at the house, not that paint colour the pictures or the homeowners decor. Can you make affordable changes to make this your home?

9. Considering resale vs. new
There are extra costs hidden when buying new and some of these cost cannot be 100% re-cooped when selling a 1-2 year old home. What are the extra costs that are in the show home?

10. Not using a qualified building inspector
Knowledge is the key and no home is perfect. You need to find someone that you are comfortable with that will identify any defects and address the solution.

1. Not getting pre-approval for a mortgage
Know what you can afford and avoid surprises at the Offer stage. Talk to your Realtor and be honest with him/her.

2. Not using a Buyer’s Agent
Using a Buyer’s Agent is free and the Agent represents you. Remember the listing Agent represents the Seller.

3. Buying a home from an un-represented seller
Does the Seller have access to market data to determine the right price? Do you? Is the fee for service still included? Careful of fraud (www.fintrac.gc.ca)

4. Over extending themselves
Don’t become house poor. Can you afford unexpected bills and such basic things as draperies and furniture?

5. Not considering the resale
Some homes are easier bought than sold. Consider neighbourhoods, busy streets and home characteristics. Be careful not to get caught up in the excitement of the process.

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