5 First-Time Home Buyer Mistakes

Are you a first-time home buyer? We want to provide you with the top 5 common mistakes that you can avoid during your purchasing experience. A smooth ride is what we want for you.

1. Thinking You Don’t Need a Real Estate Agent 

As a first-time home buyer the process of finding your dream home can be overwhelming and confusing. A real estate agent helps you meet your needs, negotiate offers, ensure inspections are scheduled, and handles financial details.

2. Getting Your Heart Set on a Home Before You Do Your Homework 

Research is very important. It’s also important to keep your mind open as that what you have your eyes set on may not always be what it seems. If you jump in too fast, you may quick to go over budget or may overlook potential pitfalls.

3. Picking a Fixer-Upper Because the Listing Price is Cheaper

Ensure that you are extra diligent in the inspection period despite the home’s potential. It’s recommended to negotiate a long due-diligence period which will give you more time to get the estimates from contractors just in case you need to back out. Finding what it will really cost you to do the fixes you have in mind will help you ultimately decide if that house is the right one for you.

4. Committing to More Than You Can Afford 

Overextending yourself can put your investments, including your house, on the line. Don’t sacrifice your retirements savings and emergency funds for mortgage payments. Keep those savings safe as you never know what life could bring you next.

5. Going With the First Agent That Finds You 

Ask for referrals! Be sure to talk with your potential choices as you want an agent who understands your all your needs.


Need advice? Looking for your first time? Give us a call at 604-588-4466 or email us info@brokersmart.ca to find out how we can help you find your dream home that fits your lifestyle.