The 36 biggest regrets of first-time home buyers
Buying your first home? It’s easy to overlook some small yet important things when you’re excited about buying a house – but you’ll probably regret it later.
When you have a specific house in mind, think about potential developments. For example, if the home is near a busy road, will there be expansion in the near future? If there is a lot of open space around the home, will more homes be built in the area soon? If there are several homes for sale in the neighbourhood, are they selling quickly and who’s moving in? It may be difficult to find concrete information about future developments, but keeping some what-ifs in mind as you look can help you find your ideal home. Also, keep in mind the potential resale value of your future home because no one knows what the future holds and you may need to sell earlier than you imagined.
If you’re serious about buying a home and not just trolling the market, be sure to get pre-approved by your bank or credit union BEFORE you start viewing homes. With pre-approval, you will really feel ready to make an offer when a home feels right, and if there’s heavy competition. You’ll also know exactly what you can afford, which is really the most important thing.