By: Mushtaq Khan,Real Estate Broker
Avoid Five Costly Mistakes In Home Buying Process
Tags: FIRST TIME HOME BUYER, AVOID COSTLY HOME BUYING MISTAKES, NEW HOMES TORONTO, NEW TOWNHOMES FOR SALE, CONDOS FOR SALE, BUILDER HOMES, AFFORDABLE HOMES ONTARIO, BUYING NEW HOME, SELLING HOME, BRAMPTON REAL ESTATE MARKET,
5 Costly Mistakes Home Buyers Make.
Mistake #1 Not knowing what they can afford before making an offer.
The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford. Usually pre-approvals are free.
Mistake #2 Not knowing who the agent represents.
Unless an agent is working as your buyer representative, they represent the seller. Many people don't realize this.
Mistake #3 Choosing the wrong mortgage.
A bad mortgage can cost you thousands in taxes and interest. Consult an accountant before you choose your mortgage.
Mistake #4 Not finding problems with the home before buying it.
You should always have a professional inspector look at the home before buying it, otherwise you could be looking at huge repair costs later on. Read this guide to avoiding a money pit.
Mistake #5 Not understanding how their credit can impact their ability to purchase or refinance a home.
Get a mortgage professional to help you go over and prepare your credit file before you buy a home.
Most importantly hire your own licensed trustworth realtor who can help you throughout the home buying process.