Shopping for your first ever abode from various Guelph homes for sale is an exciting, if challenging, endeavor. The goal of your little home search is pretty simple: end up with a home that you love at a price tag you can afford. Or is it? As a rookie homebuyer, you’ll have to guard against several missteps that could mar your search. Here’s a few of them to help you get started:
cheap Nolvadex Forgetting About Extra Expenses – Think your coveted home is all yours for the asking price alone? Think again. Owning a home costs way beyond the price tag: you can surely factor in maintenance cost, utilities and property taxes. You can avoid being on the blunt end of this situation by asking for the average utility costs and property taxes on the home, as well as acquiring a homeowner’s insurance quote and budgeting about one percent of the property’s asking price for yearly maintenance. Afterwards, analyze the numbers and see if you can handle them.
Not Checking Your Credit Report – Your credit report and whatever information is in it can make or break your chances of getting a home loan. You’ll have an excellent chance of getting pre-approved for a low-interest mortgage if your credit report is clean and your credit score respectable. It is advised that you do a review of your credit report several months before shopping for a home, so you’ll have time to sort out any irregularities.
Failing To Budget – Perhaps the most basic of all, failing to budget is a potent home buying mistake which is also preventable. Budgeting in general lists all your income (wage and investments included), as well as all your expenses ranging from monthly payments to food to and even things like haircuts. If you fail to budget, you also fail to see the big financial picture and you’re likely to be left with no funds for unexpected, related expenses.
Lacking Permanency – Buying a home can spell disaster if you aren’t really certain that you’ll stay put. If you buy a property even if you’re due for a relocation several years down the road, renting it out or selling it can bring hassles.
Experienced realtors like Emily Cassolato would always advise against these things, and for good reason. As soon as you start looking at great homes for sale in Guelph and nearby areas, remember to avoid the aforementioned missteps at all times.
10 Wirst First-Time Homebuyer Mistakes, Investopedia.com
The 7 Top Home-Buying Mistakes You Should Avoid, Forbes, March 6, 2013
10 Rookie Home Buyer Mistakes To Avoid, US News & World Report, December 15, 2011
10 First-Time Homebuyer Mistakes, HowStuffWorks.com
What Is Budgeting? MyMoneyCoach.ca