1/10
Future Development
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?
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.
2/10
Forgetting Pre-Approval
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. It’s one of the key lessons people wish they knew before buying a house. And be sure to obtain pre-approval instead of just pre-qualification, which is simply a preliminary letter from your bank without the official credit check, etc.
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.
