There’s a lot to look forward to when spring arrives in Calgary. Spring also serves as the beginning of house hunting for many, which can be exciting, especially for first-time home buyers in Calgary. Purchasing a home can include a mix of emotions, from feeling overwhelmed to staying excited about your new home. To make the most of the home buying journey, there are some strategies prospecting homeowners should keep in mind. It’s important to have goals and to own a home you look forward to coming to every day.
Real Estate Agents in Calgary offer their advice on the top mistakes buyers make, and how they can be avoided.
1) Focusing on the House, and Not the Neighbourhood
Often, many home-buyers, especially first time buyers, focus on the home features without considering the lifestyle. Lifestyle can include the type of home, such as a condo or a house in Calgary, the neighbourhood and the proximity to work or family. Before starting the search, home buyers should make a clear list of their wants and needs in a home, and have the ability to understand how to separate the two. For example, needs in a home can include the number of bedrooms or washrooms and are items on the list that cannot be sacrificed.
Everything else on your list can be considered features that are nice to have but don’t necessarily mean they are deal breakers if they are not there. For instance, it would be nice to have the laundry located upstairs, instead of the basement. In addition, the neighbourhood and lifestyle should also make the list of your considerations. Individual lifestyle choices, such as having your work or school nearby, the right transportation, highways, fitness clubs or being close to relatives, should all be considered. This consideration can increase the quality of your life and leave you happier with your new home in the long run.
2) Not Obtaining a Pre-Approval
It’s important for homebuyers to get a pre-approval to understand their price range better. This will save buyers a lot of time, money and heartbreak. It is a better strategy to understand what you can afford and maintain a comfortable lifestyle. Following the mortgage amount you can obtain, first, can save you a lot of time when searching for the right home. Be sure also to calculate your monthly mortgage payments and expenses to create a long term financial strategy for yourself.
In part two of our blog, we’ll continue with the top five mistakes home-buyers can avoid when housing hunting with their Real Estate agent in Calgary.