10 Deadly Mistakes Buyers Make When Buying A Home!

1) Making an Offer on a home without being prequalified.
    This step will make your purchase easier - take the time to speak to a lender.
    Their specific questions in regard to income, debt, etc., will  help you determine the price range
    you can afford.  It is an essential step to homeownership.

2) Limiting your search to open houses, ads or the internet.
    Many homes listed in magazines or on the internet have already been sold.  Your best course
    of action is to contact a Re/Max Realtor.  They have up-to-date information that is unavailable
    to the general public and are the best resource to help you find the home you want.

3) Choosing a Real Estate Sales Representative who is not committed to forming a strong
     business relationship with you.
     Making a connection with the right Realtor is crucial.  Choose a professional who is dedicated
     to serving your needs - before, during and after the sale.

4) Thinking that there is only one perfect house out there.
     Buying a home is a process of elimination, not selection.  New properties arrive on the market daily,
     so be open to all possibilities.  Ask your Realtor for a comparative market analysis.  This compares
     similar homes that have recently sold, or are still for sale.

5) Not considering long-term needs.
    It is important to think ahead.  Will the home suit your needs 2-5 years from now?

6) Not having a home inspection.
     Trying to save money today can end up costing you tomorrow.  A qualified home inspector will detect
     issues that many buyers can overlook.

7) Not examining insurance issues.
     Advice from an insurance agent can provide you with answers to any concerns you may have.  You
     might be looking at a home with knob and tube wiring, etc.  Purchase adequate insurance.  Get a
     quote.

8) Not buying mortgage insurance.
     Except in the case where you may have enough life insurance to pay off the mortgage in case of death,
     mortgage insurance is likely the best coverage.  Make sure that both spouses are covered.

9) Not knowing total costs involved.
     Ask your Realtor or Lender up-front, for an estimate of closing costs:  Land Transfer Tax; Legal Fees;
     Appraisal Fees and Canada Mortgage And Housing Corporation (CMHC) insurance cost (in the case of
     a High Ratio Mortgage).

10)Not following through on due diligence.
      Buyers should make a list of any major concerns they have regarding schools; neighbourhood;
      powerlines; environmental conditions etc.  Ask the important questions before you make an offer
      on a home.  Be diligent, so that you can have confidence in your purchase.