5 Homes First Time Buyers Should Avoid

Apr 4, 2017

5 Homes first time buyers should avoid

As a first time homebuyer, all kinds of things are running through your head. There are many things to consider and one you should know about is what kind of home NOT to look at. It will make your house-hunting adventure much more exciting and pleasurable.

So, as you begin to look for your first home, here are some you can cross off your “go-to” list right away:

  1. High maintenance, also known as the weekend wrecker
    Do you really want to be spending every free moment tending to that pristine garden or vacuuming out an inground pool or cutting acres of grass? It may look good at first, but just may turn out to be a lot of hard work for you as a first time homebuyer. You might want to consider a home that’s a little lower maintenance.
  2. Overly “cozy”
    In the world of home buying “cozy” is just another word for “small.” Even if you don’t have children and don’t ever plan on having any, you might outgrow a too compact home as a single person or couple. If you’re planning on staying in your first home from five to 10 years, make sure it has enough room for your changing needs.
  3. The giant
    This is the flipside of the cozy. As a first time homebuyer, you don’t want to bite off more than you can chew in terms of space. Five bedrooms might be just a little too much for one or two people. Even if you have children or plan on having them, a three-bedroom home at the start may be a more prudent buy.
  4. The cash cruncher
    There’s a fixer upper and then there’s a real fixer upper. Unless you or someone close to you is extremely handy, if there are more than two major things that need fixing, it may be best to walk away from this kind of home.
  5. The dream stealer
    If it sounds like the deal is too good to be true, maybe it is. If the house has a few things that need fixing and you think by doing so, you’ll be able to resell it quickly or in a few years, those home improvements may not have done what you hoped they would. Sometimes what you’ve done won’t mean anything to the next buyer. Be mindful if you’ve adopted this thinking when looking at homes.
Recent Posts
Why financial gifts from parents remain vital for first-time GTA homebuyers “Just Ask Mirella”

Why financial gifts from parents remain vital for first-time GTA homebuyers
“Just Ask Mirella”

Average home prices surged and the need for financial gifting grew with it. Over the next several weeks, with home prices at such a high level, I will be outlining some possible options for parents to assist their children in stepping into home ownership. Here is the...