The three top common mistakes that people buying homes for sale in Nanaimo make are to shop for homes that are not in their price range, look at houses in neighborhoods that they do not like, and not have enough money saved up to pay for their closing costs. Surprisingly very few home buyers in Nanaimo have a good idea of how much money their closing costs will be when buying a home in Nanaimo!
If you want to take the stress out of buying real estate in Nanaimo BC, the most important thing you can do is to get your lender to preapprove you before you even set foot in your first open house. Getting preapproved means that you have given your mortgage broker all of the financial documentation that they need and they have told you how much of a mortgage you can qualify for, so that you know the price range of the houses for sale in Nanaimo that will be in your price range.
If you are considering purchasing a home for the first time in Nanaimo here are the top five reasons why you will want to have some money saved in the bank before buying real estate in Nanaimo: Down Payment, Closing Costs, Cash Reserves, Moving Costs and those ever so unexpected but not so uncommon Miscalculations!