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.
❌ 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.
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.