15 Dec 2011

OREA lists most frequent homebuying mistakes made by Canadians

In the excitement and anticipation of purchasing a new home, Canadians can often make decisions that they later come to regret. To help homebuyers avoid these errors in judgement, the Ontario Real Estate Association released a list of some of the most common mistakes homebuyers make.

Chief among them is not knowing what they can afford to spend for a property. Barbara Sukkau, president of the OREA, said that in addition to establishing a budget and knowing how much the home is valued for, home seekers should also consider the land transfer taxes, closing costs and moving expenses.

Another common error people make is not having a clear idea of the type of property they want to purchase. Tom Bebour, board member of the OREA, said homebuyers should make a list of the most important things their home should have before house hunting.

Failing to get properties inspected, not getting pre-approved and letting emotions get in the way of negotiating are other frequent mistakes, according to the OREA.

When deciding on a storage unit, it's not uncommon for people to pick spaces that are too large for their needs. The professionals at Jiffy Self-Storage can help Torontonians pick the unit that's the best fit for them. 

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