Home Sweet Halifax: Essential Tips for First-Time Home Buyers in Halifax, Nova Scotia!
Hey there, future Halifax homeowners! Brenda K from the Halifax Home Selling Group here, and if you're ready to dive into the exciting world of home buying in the beautiful city of Halifax, Nova Scotia, you're in luck! We've got some invaluable advice for first time home buyers. So, let's buckle up and discover the top five mistakes to steer clear of on your exciting journey to homeownership.
Mistake #1: Pre-Approval and Budget
Alright, let's talk numbers, but in a fun and engaging way! Your mortgage broker or banker will gladly give you a monthly affordability estimate. However, it's crucial to dig deeper. Think beyond the numbers and ask yourself, "What does this mean for my overall expenses?" Take into account the monthly payment, taxes, and even heating costs. Don't forget to align your budget with your lifestyle. You don't want to splurge on a fabulous home only to be surviving on a never-ending “Kraft dinner circuit"! So, consider your entire financial picture when evaluating your budget, not just the pre-approved amount.
Mistake #2: Additional Costs
When we say additional costs, we're not just referring to the closing costs. Owning a home entails more expenses than you might initially expect. Back in the day, I spent a small fortune at Sears for my first bathroom and all its accessories. It took me years to pay it off due to the high interest rates! So, set aside some funds for those unexpected expenses. Consider buying a lawnmower, a rake, and if you're lucky, a snowblower instead of a shovel. Don't forget that while you can ask for the drapes that come with the house, you might want to personalize your space by adding your own touch with shower curtains, bathroom accessories, and other little details. Trust me, these seemingly small things can add up faster than you think!
Mistake #3: Experience Matters
It's essential to have your own agent, a buyer's representative, when purchasing your first home. But here's the catch—experience matters! Ask your agent how long they've been in the business. When it comes to having an experienced local agent by your side, is your secret weapon! Seek out an agent who knows the ropes, knows the area and can protect your interests throughout the home buying process. Now, don't get me wrong, there's nothing wrong with new agents entering the scene. We all start somewhere, right? If you're considering working with a newer agent, inquire if they have a supportive team or a mentor who can guide them through the process. It never hurts to double-check and provide a helping hand. We've all been there!
Mistake #4: Don't Skip Inspections
Time to get serious about inspections—no hiding or seeking allowed! Your future home deserves a thorough evaluation, from general inspections to septic checks and water quality assessments. Oh boy, inspections are so crucial! Don't even think about skipping them! Your home will require inspections ranging from the general home inspection to septic inspections and checking the water quality. Government guidelines change over time, and what may have been acceptable in the past might not be anymore. For instance, radon levels used to have a higher threshold, but now it's lower. In Halifax, we're urging homeowners to consider inspecting their sewer lines due to corrosion issues from non-corrosive pipes used in the 1960s. Being proactive and consider investing around $1,200 to $1,300 in inspections can save you a fortune down the road, potentially tens of thousands of dollars. Trust me, it's worth it!
Mistake #5: Home Buying Heroes
We all have those well-meaning family members or friends who want to be your "home buying heroes." Picture Uncle Bob at a showing, pointing out every little flaw and flexing his real estate muscles. While their intentions may be good, their comments can influence your decision and lead to regret later on. Let the professionals handle the inspections and evaluations. Your loved ones should be there for support, not to critique every detail. Remember, it's your home, and you should make the final call based on professional advice.
And there you have it, five essential tips for first-time home buyers in beautiful Halifax, Nova Scotia! If you're hungry for more knowledge, we've got you covered with our comprehensive home buying guide. Just click the link below to embark on your homeownership adventure.
Happy house hunting, Halifax style!
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