Welcome to Homebuyer's School brought
to you by Brookfield Residential.
So before we begin, if this is your first
time on this channel and you want to get
the latest strategies tactics and tips on
home buying, click the subscribe button
below, hit the little bell so you
don't miss anything.
Hi everyone, welcome to another edition to Homebuyer's School. Today I'm joined
by Bridgette Beaulieu, area manager with Brookfield Residential, and today the
topic we're going to discuss is, "Mistakes that first-time homebuyers make". So
Bridgette, in your experience what are some mistakes that first-time homebuyers make?
From my experience, some mistakes I have seen is first time home buyers buying on
price, huge mistake and I would say
that's probably number one for my
experience I've seen. The other ones
would be buying on impulse, just getting
kind of excited, making a decision that
perhaps isn't a 100% the right decision,
and then the other one I would say is
getting kind of blinded by your
wants versus your needs and kind of
de-qualifying yourself almost from
buying a house.
Okay, well let's talk about price first then, how would that be a mistake?
So I see a price that fits within my budget--I'll buy that house. Why
would that be a mistake?
Buying on price versus value can be a real issue.
You can see a price point, it's well within your budget, it's what you
absolutely want, but is the house really worth that? Is the resale of this house
down the line say, five years from now, are you going to get that back? Why is it
that price? Versus, there can be a home, very attractive perhaps, it costs a
little bit more but the value is there, you get more with that house, the
location is best, aspects about the house are good, just different things
like that because the best price today isn't the best value tomorrow.
Right. We did talk about first-time homebuyer tips which you can see from
the card above, but I think it connects perfectly to resalability
right, that to make sure that the home that you're buying when you talk about
value tomorrow that it provides you value right back, right. Awesome.
So the next mistake that you mentioned is impulse, so what do you mean?
Getting really excited and buying that house without really thinking it through.
You don't want to have that buyer's remorse.
You want this to be the right home, the right fit for yourself,
and I'm not saying wait but just think about it before you buy.
At least take one day just to think about it.
So it's not like I just--let's say
I walk into this show home and I'm like, "I really love this", so I just you
know, put down a down payment depositing and away--I didn't even
really think about does it fit my lifestyle, am I in the right community
right, those kind of things that I didn't really think about it.
Well if you walk
in and absolutely fall in love with it feel free to put down a deposit,
but just before you actually commit, think about that and you can still write
the offer, you can still do all of that immediately and it still gives you
some time to think about it, just that condition removal time frame. You can
take that time to review to think it's just--make sure that you have had
that time and that you have had a thoughtful review and that you do feel
good about what you've done and if you have any questions, anything like that,
bring them to your sales professional.
Perfect, well the third one
that we talked about was wants versus needs, what do you mean?
Everybody has their needs, everybody has certain requirements, the whole must-
have to suit their life and then there's wants on top of that. I need a garage,
I want a three-car garage, so
it's those things. If your wants are going to price you out of what you can
afford, don't obsess on them, sometimes
people can really--really focus on that want and in their mind it becomes a need
but then that can stop them from actually buying a home so if you focus
on your needs, buy the right home for yourself,
then again down the road you can resell it and then get the wants.
Perfect, that sounds good. Well thank you very much Bridgette, thank you very much
everyone for joining us and we'll catch you next time.
That's another edition of
Homebuyer's School.
Tune in next time for more expert tips and
tricks and visit homebuyersschool.ca
to bring you one step closer to
finding your dream home.
As with everything, it would be great
if you like and share our videos.
Also please let us know if you have any
home buying questions you
want us to answer.