Mistake 1: Not getting pre-approved first. Many buyers start browsing listings before knowing their actual budget. Get pre-approved before you start looking. It is simple and it saves time.
Mistake 2: Ignoring closing costs. Budget an additional 1.5-4% for land transfer tax, legal fees, home inspection, title insurance, and moving costs.
Mistake 3: Skipping the home inspection. A $500 inspection can save you from a $50,000 foundation problem.
Mistake 4: Making emotional decisions. Having a clear budget and criteria list before you start looking keeps emotions in check.
Mistake 5: Not researching the neighbourhood. Schools, transit, future development plans, and neighbourhood trends all affect your quality of life and long-term value.
Mistake 6: Going it alone. A good buyer's agent costs you nothing but saves you thousands through negotiation and market knowledge.
Mistake 7: Waiting for the perfect moment. If the numbers work and you are ready, waiting often costs more than acting.
