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Common Mistakes People Make When Buying A Home

Author: Shabbir Ahmed Janmohamed | | Categories: Buying a Home , First Time Home Buyers , Real Estate Agent

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Purchasing a home is a very overwhelming process. If you let those emotions get the best of you, you may face several common home buyer mistakes. Since homeownership has far-reaching implications, it’s essential to keep your feelings in check and make the most rational decision possible. Your priority should be to end up with a place you love at a rate you can afford, but sadly, many clients do things that hinder them from reaching that dream. 

Since a home is the single most valuable purchase for some people, the entire process can also be challenging to navigate if you’ve never done it before. It’s crucial to find a mortgage agent you trust to help guide you down the ups and downs on the exciting journey to homeownership. It is also helpful to know some of the common mistakes homebuyers make, so you can avoid them when getting your home and have a smooth experience with minimum stress. 

Let’s look at some common house-hunting mistakes people make—and how to find a home the right way.

1. Not making an offer on a home quickly
Most people don’t make an offer on a home quickly. It’s understandable since buying a home is likely to be the biggest single purchase you’ll ever make, so people may find the experience of making an offer on the house or flat rather daunting. Usually, clients feel they have to see many places to start offering, but they eventually miss out on the good homes they see within their budget. The ideal way to go about it is once you’ve worked out what you can afford and have a property within your financial reach, it’s the right time to start thinking about making an offer. 

2. Losing the house for small repairs 
One of the new expenses that come along with homeownership is taking charge of repairs. You cannot call the landlord to check if your roof is dripping or your bathroom is clogged. But look on the positive side there’s also no rent increase notice set to your door. However, sometimes clients see minimal issues in a house which cost them to lose buying a home. While you, you shouldn’t miss any problem that puts you in danger or could worsen over time. But during this process, be realistic. Don’t lose your dream house over something small, and you can fix that. One way to protect yourself against potential repair issues is to have a potential home inspected before buying it. 

3. Paying too much attention to other things
It’s important not to emphasize something that can be changed and focus on the house’s layout. A good design shows the flow of spaces in a room, showing the footprints of furniture and the remaining area open for circulation. It is essential to understand if the layout of the space will be suitable for you and your family. For instance, a split-level apartment will not work well for a family that cannot navigate steps easily. Families with kids will want the room to be close to the playroom so that they can keep an eye on their little ones easily. Those who love entertaining would like a house with spacious terraces or decks that are open-plan and centrally situated.

4. Not being prepared for showings
It may be essential to make an offer fast if you find a home you like in a hot market. However, you have to balance the need to make a quick decision and ensure the place will be right for you. To get your perfect home, you will have to be ready to hunt for the home and showings as frequently as possible. Don’t neglect necessary steps, such as making sure the neighborhood feels safe at night and the day and investigating potential sound issues like a nearby train. Have a look at enough properties before taking the final call. Taking time to consider the decision also allows you to research how much the property is worth and offer a fair price.

5. Not having your finances in place
Buyers who finance a home they can’t afford are likely to have limited funds left over for things like leisure emergencies, travel, or home repairs. So, it’s vital to decide how much you want to spend on a place and how much you can realistically afford. Many first-time buyers should make sure their finances are all in place and be open to the realtor for everything to find a solution before time. Talking to a mortgage broker also helps determine how much you can afford to spend on a home and adhere to a realistic budget. They will help you estimate your closing costs, so you know how much money you will need upfront before you even start paying your monthly mortgage.

6. Failing to ask questions 
Since your house is one of the most important investments you’ll ever make, you are allowed to be a little picky about whom you choose to help sell or buy it. Find an agent whose philosophy and practices align with your choices. Asking the right questions will help you get an insight into the agent’s skills and personality. Of course, they should offer stellar recommendations and be thoroughly familiar with your neighborhood. At the same time, an agent should be happy to answer your doubts and queries. It’s essential you feel comfortable and thoroughly trust them with this critical investment. Ask questions to help you make your home buying process easy and fruitful.

To avoid these and other mistakes while getting your home, reach out to me at Shabbir Janmohamed Broker. With many years of experience with sellers and buyers, I have a proven record of success that is important to leverage in today’s market! I aim to give my clients superior customer service in this challenging market. To date, I have successfully served hundreds of people to realize their dream of homeownership. My passion for helping others is the driving force behind my business and the way I operate it. 

We serve clients across Vaughan, Richmond Hill, Markham, Aurora, Newmarket, King City, and the surrounding areas.

For a complete list of services we offer, please click here. For any questions related to our mortgage offerings, please feel free to contact us by clicking here. 



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