Three mistakes

first- time buyers make most

1 Choosing the wrong agent. “People call the person they see on the sign outside the home they want, and that’s exactly who not to call,” says Krista Rose, a real estate broker in Cape Breton, N.S. “They think the agent selling the house will know the most about the home, but if you don’t go in with your own agent, there’s no one in your corner.” Instead, ask friends for referrals, check online reviews and shop around. “It’s a long process and can become a big relationship— find someone you’re comfortable with,” she says. (Suffice it to say, not calling an agent at all is also a mistake!) 2 Not knowing what you want. Calgary Realtor Kyle Stone says real estate newbies often don’t have a good idea of what they’re looking for and can become overwhelmed, which is why he’ll start by showing different types of properties— a bungalow, a two- storey, a duplex— in various locations. “They can find out what types of homes and areas they like and don’t like, and we can taper the search from there.”

3 Forgetting to check finances first. First- time buyers often think they can afford a home that is actually out of their financial league. “The number you go in with should be based on a plan,” says Stone. “Draft a budget for the expenses in your new home, or do a trial run by setting aside the money you’d need if you were living there and see if it works.” If it doesn’t, lower your expectations. And don’t forget to have money that’s accessible for your down payment, adds Rose. “You usually need at least five percent of the overall purchase price for the down payment, then budget three percent for closing costs, which means you should have at least eight percent of the purchase price on hand going in.”