5 COMMON BUYING MISTAKES

Save yourself some time and money by avoiding these mistakes!

Mistake # 1: Not getting pre-approved

When you are pre-approved, you are effectively a cash buyer. This makes it much easier to negotiate with the seller. Do not mistake pre-approval with pre-qualification; pre-qualification is only the first step in gaining pre-approval.

Mistake # 2: Choosing the wrong realtor

You expect a lot from your real estate agent, so make sure you find the right one for you. Look for someone professional who knows the neighbourhood where you're house-shopping and with whom you get along.

Mistake # 3: Overextending yourself

Set yourself a sensible spending limit. Don't put blinders on when it comes to what a new house will cost you in renovations.

Mistake # 4: Looking in all the wrong places

Think about parks, schools and any convenient amenities close to the property. A good neighbourhood is also a biggie in terms of resale value. It still comes down to location, location, location.

Mistake # 5: Failing to do your homework

Hire a home inspector who can give you a head's up about problems that will need repair or upgrading. That way, you'll avoid unsuspected and pricey surprises.

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