As experienced movers in Vancouver, we know that heading out on your first home hunting trip is exciting, and often exhausting. Looking at house after house to find a home to call your very own for the first time can lead to some typical first time homebuyer mistakes. Whether it is the adrenaline rush, the exhaustive searches, or the white picket fence that lures you in, consider these common mistakes when buying your first home.
When you make the decision to start looking to buy your first home, set a budget and stick to it. Know exactly how much you can afford to take on and consider all the expense of being a homeowner; mortgage, insurance, property taxes, utilities, home owners association fees, repairs and emergency funds. Consider what your current monthly housing budget is now and determine whether you can afford more, the same amount, or less when it comes time to be your own landlord.
Meet with a mortgage broker before you start looking for homes. Getting pre-approved will keep you on budget and working within the parameters of what your bank is offering you to work with. Being pre-approved will also make the process of putting in an offer streamlined for you and the seller.
Do not skip the home inspection process when buying a new home. The charm of the squeaky floors, original windows, and historic light fixtures might be part of the allure to a potential new home, but there are often problems hiding behind the walls and under the floorboards that a home inspection can properly assess and reveal. Having a home inspection can provide you with a certain level of protection as well as address any problems with the home before closing day. Oftentimes, a seller will be required to fix certain problems in order to have a sale go through.
Overall, try not to become too caught up in being overly guarded with your broker or suspicious of any reports that come back from the home inspection. It is far too easy to become obsessed with one detail that is rather small in comparison to the whole package – a home! Trust in the current market and work with a broker that knows what you are looking for so that you can feel confident in your first home buying experience. However, on the flip side of that, do not be too overconfident in your house purchase. You may think that you can fix that leaky pipe, or that the neighbor will clean up is yard after you move in, but that is not always true.
When it is all said and done, you want to buy a house that will become your home and a few offers may fall through before you find the perfect place. You want to purchase a dwelling that you are proud to throw out a welcome mat for friends and family. Moreover, if you are ever in doubt about a home as a first time homebuyer, consider the old real estate adage: Location, location, location
When you have found the perfect home – make your move an easy one – visit our site for a helpful moving advice and a FREE moving quote.