7 Mistakes To Avoid When Home Hunting

You are in the market for a new home and are excited about the hunt. Congratulations! If this is your first home purchase, however, there are some things you might want to consider before you dive right in.

Common mistakes to avoid when home hunting

Common mistakes to avoid when home hunting

Some comparison shopping is in order (consult the Canadian Mortgage and Housing Corporation Home Hunting Worksheet) as well as the following mistakes you must avoid when home hunting.

Mistakes to avoid when home hunting #1

Not considering the long haul
Sure it’s a great three bedroom home, but how many kids do you plan on having? Will your mother-in-law be moving in soon (shudder)? You need to think about the future, not just what will happen in the next year.

Look around the home. Can it accommodate your huge family get-togethers or is it perhaps too big for your three-member family? A little foresight can go a long way in a situation like this.

Mistakes to avoid when home hunting #2

Not doing your research
Sure you heard that the community is great and that it’s super quiet in the area, but who exactly fed you this information? Don’t rely on the words of those around you – do some research.

Find out what the area is really like by doing some research on the web, as well as by hanging out in the area and making sure that it is a place that you could really fall in love with over the long haul.

Mistakes to avoid when home hunting #3

Not testing what life would be like
Before you jump into the purchase of a home you like, make sure that your commute won’t require a daily dose of Pepto.

Check out what the traffic will be like getting to and from your 9 to 5, and see what a typical day is like driving around the neighbourhood. Is it a high traffic area or can you get around quickly enough? Find out.

Mistakes to avoid when home hunting #4

Not checking out the neighbours
If the guy next door is drummer and jams with his band every evening until nine, will you be okay with that? If the lady next door has 11 dogs and you have a severe allergy, could you survive?

Take a cruise around the neighbourhood by foot and get to know the neighbours and inquire about the area before making such a major commitment.

Mistakes to avoid when home hunting #5

Not finding out what’s in the area
Not only should you check out the commute, but find out what’s in close proximity. If you have a family, would you mind if there were four nightclubs down the street? What if you like to sleep in on Sundays and there’s a massive children’s park down the street filled with screaming children every Saturday morning at six?

Check out the area and find out how close the nearest grocery store is, where the dry cleaner can be found and whether or not there’s a convenience store for those late-night, aw man, I forgot to buy milk for my coffee kinda weeks.

Mistakes to avoid when home hunting #6

Not figuring out how much you can afford beforehand
Home hunting without first getting a preapproval from a mortgage broker might put you in a pickle. There’s nothing worse than falling in love with a home that you simply cannot afford.

By getting preapproved for a mortgage, you’ll know exactly how much you can afford and won’t waste your time home hunting for properties that are completely out of your price range.

Mistakes to avoid when home hunting #7

Not looking for flaws
Sure the home looks perfect, what with the new paint job and great furniture, but it’s what’s going on in the back end that you should be paying attention to.

Look for cracks in the ceilings and in the foundation. Ask as many questions as you can think of about the home. Flush toilets and open faucets to make sure that the pipes are in great functional condition.

Ask outright if there are any issues with the home regarding water, heating, noise, damage, etc.

Buying a home is a major commitment

Buying a new home is a major commitment and not one you should take lightly. Before you fall in love with the stainless steel appliances that come with the place, make sure you do your homework and buy a home that you are ready to spend many years in.

Unless of course you’re a flipper, in which case you shouldn’t be reading this article to begin with.

Ready to start your home hunting? Check out ComFree.com for the latest homes for sale.

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1 comment

  1. Rima says:

    This is so true. We bought a home last year and didn’t even consider the crazy traffic we would have to endure and now we are constantly stressed out by it.

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