The excitement could cost you
You’re about to become a first-time homeowner and you’re excited to find your dream home. But beware, buying a house can be a complicated process and it’s easy to make mistakes that can cost you an arm…or a leg.
Don’t worry, your accomplices have decided to give you a list of the 7 most common mistakes you can avoid!
❌ Not having a clear budget before you start looking for a property can waste your time and energy.
✅ Your accomplice will analyze with you, your bank borrowing capacity to well establish your purchase budget.
❌ There are many additional costs when buying: notary fees, taxes, moving costs, bad surprises, etc.
✅ Depending on the purchase price of a property, your broker will establish the expected costs and suggest a reserve fund for contingencies.
❌ Do it alone is possible in a purchase transaction but involves a lot of risks.
✅ By working with the apoint Hypothèque team, you will be guided and benefit from our network of professionals.
❌ Is there a school in the neighborhood? Public transport? Do not forget the details that could improve or even harm your quality of life.
✅ A real estate broker will be able to go around your needs with you and ensure that your new neighborhood meets them.
❌ Buying a house is a long-term commitment. There are many costs to consider: taxes, maintenance costs, emergency repairs, etc.
✅ Buying according to your real budget and not your borrowing capacity is the best solution to plan a surplus to cover these costs.
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❌ When a promise to purchase is signed, the countdown begins to be approved for financing.
✅ A prequalification letter in hand and all the documents provided to your broker allows you to be ready to take action.
❌ A full home inspection can reveal hidden issues that could impact the value of the home.
✅ A building inspector doesn’t just look at the color of the walls, he makes sure that the quality of the construction is adequate.
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In summary, we strongly advise you to start on the right foot by meeting with a mortgage broker in order to obtain prequalification and determine the professionals to involve for the smooth running of your future transaction.
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