Some easy blunder to avoid when buying a house in 2013-14
When you decide to enter the home buying market, it can be an exciting experience. But even for those who are not first-time homebuyers, easy mistakes can be made that result in you spending more than necessary, missing out on a great opportunity, or not getting what you thought you were buying. To avoid these minefields, the Ontario Real Estate Association (OREA) has listed five of the most prevalent oversights people make in the home buying process. First Blunder-Being unclear on how much you can afford An especially common misstep does not know what you can afford. The Canada Mortgage and Housing Corporation's "Are you financially ready?" will take you step-by-step in helping you determine: ◦How much you spend now ◦How much you can afford ◦Your maximum house price Once you have an idea of how much you can afford, and how much of a mortgage you'll need to get, a mortgage payment calculator can help you get a feel for: ◦the...