The 5 Most Common Mistakes First Time Home Buyers Make

The 5 Most Common Mistakes First Time Home Buyers Make

Now is a pretty exciting time to be buying real estate in Nanaimo, especially if you’re a first time home buyer.

But let me suggest you step back, take a breath, and make sure that you follow a few simple steps when you’re buying real estate in Nanaimo for the first time.

Here are five tips that I hope will make your first time experience of buying real estate in Nanaimo a pleasant one.

Prearrange Your Financing

Even before you get in your car for the first time to begin your home buying search in Nanaimo, it’s best to talk to a lender and understand your different financing options.

I’ve seen many first time home buyers spend a lot of time – and some money – finding their perfect dream home, only to discover the hard way that they’re not able to get a loan.

Know the Neighborhood

Once you’ve got your loan arranged and your choices of real estate in Nanaimo are narrowed down be sure to look at the houses you like during different times of the day and different days of the week.

This way you’ll have a much better feeling of what the neighborhood is really like.

Do a Thorough Home Inspection

Don’t be tempted to cut corners when doing your home inspections or underestimate the cost of doing repairs.

That little roof leak that you figure you can patch yourself may very well turn into a big problem during the next storm.

Try Not To Be Too Emotional

It’s always good to have a Plan B, especially when you’re buying real estate in Nanaimo.

If something shows up during your inspection that you don’t like, of if something doesn’t seem quite right, you’ll probably save yourself a lot of trouble – and maybe heartache – if you’ve got a backup home to buy in mind.

Work With a Realtor

Many first time buyers think they’ll be saving money by not working with a real estate agent.

On the contrary, a professional real estate agent – one who works full time selling real estate in Nanaimo – will be your advocate and can help you avoid the common mistakes of first time buyers.