Common First Time Homebuyer Mistakes Ottawa - Melanie Giray RE/MAX Affiliates

Are you looking to purchase your first home?

Are you excited?

Maybe a little bit overwhelmed.

Hello everyone. It's Melanie Giray with the Hamre Real Estate Team RE/MAX Affiliates here in Ottawa.

Purchasing your first home can certainly be overwhelming.

It's so important to go into the process prepared.

➡️Avoid these three common mistakes that first-time homebuyers often make.

Number one: They start shopping before they get approved.

Now getting a mortgage pre-approval is so important.

It allows a buyer to know how much a lender is willing to finance them and ultimately on how much they can spend.

Imagine losing out on the home of your dreams because you didn't have your finances in order.

Number two: they underestimate closing costs. ⚖

Now your down payment and the purchase price are not the only two costs to take into consideration.

There are legal fees, land transfer, tax, title, insurance, closing costs that are due on the day that the buyer takes ownership of the home though.

They vary. They typically range between 1.5 and 4% of the purchase.

The third common mistake that first-time homebuyers make is that they don't work with a real estate professional.

Now as a REALTOR® I investigate in order to educate my clients.

We have strategies in place to win, and we're here to have buyers meet their buying objectives all while staying within their budget.

You know, we can negotiate better terms and we know the local real estate market in the sense.

So with all this being said, if you're a buyer and you're looking to get into the Ottawa real estate market, or you simply want a market update, I would love to chat with everyone.

☎️Please feel free to reach out for more information, you can visit our website www.weknowottawa.com

 You can send me a message directly.

Bye everyone.