Buying a home is a significant investment, and there are several common mistakes to avoid to ensure you make a sound decision! By avoiding these common mistakes and conducting thorough research and due diligence, you can make a more informed decision when buying a home in Calgary.
Not getting pre-approved for a mortgage.
If you’re considering buying a home in Calgary, getting pre-approved for a mortgage is a crucial step that makes the process much easier. Working with a lender to determine how much money you can borrow based on your income, credit history, and other financial factors is all part of the process. By doing this, you’ll have a clear idea of your budget and can focus your search on homes that are actually within your price range! Plus, sellers are more likely to take you seriously as a buyer if they see that you’ve already been pre-approved for a mortgage. Overall, getting pre-approved is a smart move that can give you a real edge in a competitive market.
Skipping the home inspection.
While bypassing the home inspection may seem tempting to save money and time, it can cost you more in the long run. Even if a property looks perfect on the surface, there could be hidden issues that only a professional inspector can uncover. These issues could range from structural problems to hidden water damage or electrical issues. When you are buying a home in Calgary, investing in a home inspection can gain valuable insight into the property’s condition. This can help you negotiate repairs or adjustments to the purchase price based on the inspector’s findings. Trust us, a small investment in a home inspection can save you from significant expenses and headaches down the line.
Not considering additional costs.
If you’re considering buying a home in Calgary, it’s important to remember that there are ongoing expenses beyond the initial purchase cost. These expenses can include things like property taxes, homeowner’s insurance, maintenance, and utilities, and they can add up over time! Not planning for these costs can lead to financial stress and unexpected expenses later. To make an informed decision and ensure you’re ready to buy a home, take some time to research and understand all of the ongoing expenses associated with homeownership. And remember to set aside some money for unexpected repairs or emergencies! Doing so can give you peace of mind and make managing unanticipated expenses easier.
Are you thinking about buying a home in Calgary? Realty Unleashed can help!
Realty Unleashed is an independent real estate brokerage serving clients in Edmonton and Calgary. Since opening our doors in 2018, we have committed ourselves to giving clients the best service they could imagine – you can read our testimonials and reviews here! If you are considering buying a home in Calgary or Edmonton and need a REALTOR®, please fill out the form below, and someone from our team will get back to you soon!
