7 Common Pitfalls of First Time Buyers
1. Not Getting a Pre-Approved Mortgage
It’s a real estate no-no. Do yourself a favour and get it before you go house hunting.
2. Taking on More Than You Can Handle
Big house, big payments, big headaches if you don’t think about it ahead of time.
3. Not Considering the Added Costs
Property taxes, and home insurance are part of the package.
4. Not Working with A-Team Professionals
Lawyers, financial advisor, real estate agents are your team. Try to draft the best.
5. Don't Forget About Your Closing Costs
Legal fees and disbursements, land transfer taxes and moving expenses.
6. Getting a Fixer-Upper That You Don’t Have Time or Money to Fix-Up
You want to love your home, not stew about all that needs to be done.
7. Skipping a Home Inspection
You may think it’s your dream house; an inspection will help confirm it. Or not.