5 mistakes to avoid when buying real estate
Have you found the property of your dreams? Congratulations! But don't be too hasty, or you could make a costly mistake.
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You've decided to take the plunge and become a homeowner. Congratulations! Here's a list of the main mistakes to avoid in your property search.
1. Preparing your real estate project
Before embarking on your real estate project, it's important to ask yourself the right questions. Think about the desired setting, location, shops, schools, transport or even the liveliness of the neighborhood. Choosing the right neighborhood is an important first step.
You should also draw up a list of simple criteria for your search, such as budget, number of bedrooms, whether you want outdoor space or a garage.
2. Don't negotiate your mortgage
Mortgages are generally an important part of any real estate project. Don't hesitate to take advantage of the competition between banks to obtain the best conditions. You can also call on the services of a specialized financing broker.
3. Be satisfied with a single visit to the property
Visiting a property is a vital part of the search process. It's important to imagine yourself in the property, but also in the neighborhood. Visit the property at different times of the day and week. This way, you can check out the liveliness of the neighborhood, as well as the amount of sunshine, for example.
4. Forgetting to check the condominium's condition
If you're buying in a condominium - typically an apartment, for example - ask to see the condominium bylaws and recent minutes of general meetings. You can also ask for the latest statements of co-ownership charges.
5. Rushing to buy a property
The market is dynamic and many buyers are looking for the ideal property for them. However, buying real estate is an important, long-term purchase. It's time to think things through, to master and analyze all the elements involved, and to choose your ideal property.
