5 Common mistakes to avoid when buying a home

Buying a new home requires a lot of planning. Here are 5 common mistakes to avoid when purchasing a new home. 

1) Making an offer on a home without being pre-qualified for a mortgage. 

One of the first things you should do when buying a new home is to speak with a mortgage professional about getting pre-qualified. This will allow you to understand what you can afford (based on income, debt etc.) so that you can focus on looking at homes that are within your budget. 

2) Not having a home inspection.

A qualified home inspector can help you save money in the long run by identifying potential problem areas in the property. This will reduce the risk of running into issues later on (after closing) that may have been easily detected by a qualified home inspector. 

3) Choosing an Real Estate Agent who is not committed to working in your best interests.  

Working with a Real Estate Agent who is committed to working in your best interest is vital. Make sure you select a Realtor that will help you achieve your goals before, during and after the sales process. 

4) Searching for a home yourself via open houses or internet searches. 

Your best course of action when buying a new home is to work with a Realtor. They have access to information on properties that meet your buying criteria and can notify you when new listings hits the market that may be a good fit. This allows you to act quickly as many homes are sold before they are ever advertised to the general public. 

5) Not knowing the total costs involved. 

Speak with your Realtor or Mortgage professional early on in the buying process and ask for an estimate in closing costs. Keep in mind that you have to take costs such as Land Transfer Taxes, Title Insurance & Lawyer fees into account. Make sure you are well prepared financially and avoid any surprises at closing.

Kevin Lennie

Kevin Lennie

Sales Representative
CENTURY 21 John DeVries Ltd., Brokerage*
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