Here are five important steps to consider when purchasing a home that can help prevent unexpected expenses and disappointment. 

  1. Have your mortgage pre-approval in place. Knowing what you can afford will help you save time by viewing homes that are in your budget.

  2. Ensure your offer is conditional on a home inspection. Home inspectors know what to look for and can help you avoid any unexpected costs in the home. 

  3. Have a real estate lawyer review your offer

  4. Have the money for your closing costs available. In addition to your deposit, you will have closing costs and land transfer taxes to pay.  Ensure you have at least 2% of the purchase price of the home for additional closing costs

  5. Not choosing to hire an agent. Once you are seriously shopping for a home, don't walk into an open house without having an agent.  Having an agent represent your best interests during the real estate transaction, can help you avoid potential problems that may occur.    

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