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Canada Business News and Press Releases Reveals the Top 5 Mistakes that First Time Home Buyers Must Avoid


(EMAILWIRE.COM, February 11, 2017 ) Purchasing a home is one of the most amazing things that most people have been dreaming of. Most especially for partners who want to settle down after a long run. Though billions of people in the world are dreaming and stretching their bones to have a home, only fortunate people enjoy the privilege.

Many people aim and work hard to have a home to settle in but only few people get a chance to afford one. Thus, the number one real estate agent in CA, suggests that anyone who wants to buy a home needs to be smart. encourages first time home buyers to be alert and aware of real estate pitfalls especially the top 5 mistakes below:

Hidden expenses. Mortgage payment should not be the only thing that all homebuyers must consider. Other expenses like taxes, insurance, maintenance, homeowners’ association dues, water bills, and water bills are some of the costs that home buyers must take care of. Yet, a lot of buyers tend to overlook this aspect in spite of the fact that insurance and property taxes tend to increase every year.

Home first, loan later. clarifies that buying a home doesn’t start from searching a home. It should begin with prequalification of mortgage not unless they have enough money to cash out the house. First things first, first time home buyers must ensure first that they have a backup house loan before they start looking for a house no matter how exciting that part is, they’ll get there soon.

Disregarding professional’s help. Newbies for home buying should consult a help from professionals like real estate agents, an excellent loan broker or officer, and a lawyer if possible. According to Anderson, getting into homebuying without a help from professional is highly discouraged unless they are any of the mentioned experts. It is also ideal for buyer to get reference from their hired real estate agent to ensure his/her credibility.

Sending savings on down payments. shares that spending most or all saving on down payments or closing cost of a property is an often committed mistake by first time home buyers. Depleting their savings for paying a property is very risky. There are so much "supposed to be" expenses to pay for in the future from their savings instead of the down payment alone.

Acquiring new loans before closing one. Prelist recommends homebuyers that they should never keep their wallet shut. It is not advisable to get another big deal right after being prequalified for a loan that will close after 30 days. Lenders make sure that their borrowers have enough money to return their money before approving a loan.

Prelist admits that purchasing a property is indeed exciting yet nerve-wracking. It is difficult to know the exact thing that should be expected and learning its twist and turns takes time. However, most if not all issues can be solved if homebuyers know how to do their homework especially financially.

About Prelist

Prelist is a community driven project backed by homeowners, developers, and entrepreneurs working together to create and maintain a free, accessible platform for buying and selling real estate in North America.

We started Prelist to provide homeowners and real estate agents the opportunity to gain exposure to the private real estate market prior to listing with MLS.
If you have any questions about Prelist, selling or buying your next home, please don’t hesitate to contact us anytime.

Mark Planeta
PR and Marketing @ Prelist
Contact no: 1-866-575-1611

Dimitry Vital


Source: EmailWire.Com

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