Tips for first-time buyers

The Globe and Mail posted an article yesterday called “10 worst first-time homebuyer mistakes”. While the contents are based on American real estate law, they are certainly applicable to what first-time buyers should be aware of when purchasing property in Ontario. Some important points to take away: shop for what you can afford; get pre-approved for a mortgage; being too picky; and failing to get a home inspection. Buying your first home is an incredibly exciting experience, but you need to remember that you have to be practical as well. For most people, the first home is a stepping stone to the permanent home; be sure that it is a wise first step.