Common mistakes when buying a home
Buying a house covers a lot of ground--including legal, financial and emotional considerations. We have listed some of the most prevalent--and potentially dangerous and expensive--mistakes made by home buyers.
1- Not assembling the best team of professionals to represent your best interests during the purchasing process.
2- Buying Emotionally, not being realistic to what your budget will allow.
3- Waiting for the "perfect" home. Many first time buyers make the mistake that they will, if they look around long enough, find a home that has a full 100% of their needs and wants. First determine the most important of your needs and the most desired of your wants and selecting a home that meets the majority of them.
4- Ignoring the extra costs & the hidden costs. This is especially true when applied to new construction and renovations.
5- Not being pre-approved. All financing is not created equal.
6- Not working with a Realtor. Finding out too late that you have no representation.
7- Not understanding the process of purchasing a home.
8- Failing to understand the home buying process. Not practicing due diligence and following through with obligations.
9- Using more than one Agent – Each person adds more time to the process.
10- Buying into an unknown location – Your agent knows the neighbourhood and can give you accurate information on services, amenities and most importantly real estate values.
