Mistakes Made by Generation in Home Buying- Real estate agent Kitchener can help you overcome
We, being humans, make mistakes. That’s how we learn in many cases. Here is a list of common mistakes that home buyers make in all age groups. Mistakes In 20’s – Getting the wrong mortgage Sometimes young buyers get ARM’s, which are adjustable rate mortgages looking at the low introductory interest rate. They carry a lot of risks. Thinking they will earn more money in the future, so when the mortgage rate increases, they will be able to afford the new monthly payment. However, ARM’s even though with the low interest rates ,is risky. What happens if rates increase, but your home value falls? You’d have fallen down too . Younger buyers could consider a lower down payment loan – like an FHA loan or low down payment conventional loan. This will reduce their initial out-of-pocket expense while locking in an interest rate. Avoid these mistakes In 30’s – Consider consulting a Real estate agent Kitchener When you are doing the home deals, you must consider your plans and needs of the future. T