As most real estate transactions are complicated and expensive processes, it is easy for buyers to make mistakes when trying to save money or cut corners. See below for some of the most common mistakes made by buyers.
Not getting pre-qualified: As a buyer, it is essential that you have a full understanding of what you can afford. By getting pre-qualified before you embark on the house hunting process, you are better aware of what price ranges you should be looking at. In addition, being pre-qualified lets a seller know that you are a serious and qualified buyer.
Going at it alone: Not enlisting the help of a professional REALTOR® can have serious consequences for buyers. A REALTOR® will have your best interest in mind at all times, and ensure that you consider all important and essential factors. In addition, you will have somebody to advocate on your behalf and negotiate the best possible price for you.
Skipping the home inspection: Although a home inspection doesn’t always protect you from every potential defect, it does provide you with a thorough evaluation of the home’s condition and gives you an awareness of any potential future problems or current issues that may require attention. Some buyers tend to skip out on this process to save a few dollars, but the implications of doing so, can have serious negative consequences.
Not being aware of the hidden costs: As noted in yesterday's blog, there are many additional costs to consider when buying a home (transfer taxes, mortgage insurance, moving costs etc…) Sometimes buyers ignore these costs and are not prepared for them when the arise. Be sure to consult your REALTOR® to find out what types of costs you may have to undertake.
For any real estate assistance in the Oakville, Burlington, Milton area contact Mary at firstname.lastname@example.org