Mistakes to avoid while buying a house in Canada
Real estate market may seem very promising for safe and secure investments but it too has many glitches. There are many steps where novice buyers may be misled. It is very important to act wise and not fall for dream projects that seem too good to be true. The mistakes which real estate buyers should avoid are:
- Never fall in love with the show home. Show homes are models built to give buyers and idea what they are paying for. If you are trying to make an investment in a project that is under construction, make sure you get what was shown to you and also, be prepared for getting the final result a notch lower than what was shown. Be prepared for the project to be delayed by a couple of months than the promised date.
- Don’t sign a deal without legal advisor. If you decide to purchase a property, you should sign the deal under the supervision of a legal advisor. If you choose not to do so, you might end up agreeing to a number of terms you don’t agree to or do not understand at all in the first place. This may also lead you to live in a place that is not what was committed to you.
- Do not accept a delay. Believe it or not, the law enables the buyer to sue the builder in case of delay in the promised date of delivery. If this happens to you, do not take it as your problem. The problem and fault lies with the builder and he is solely and completely responsible for it. You owe an explanation from him with compensation money.
- Be quick with the warranty claims. As soon as you notice a flaw in the construction, be quick with the warranty claims before they expire. The builders are usually pretty lazy in responding to repair work that too if it has to be done under warranty but being persistent is the key. Your persistence can make you get the repair done under the warranty period.
- Buy at the right time. To know the right time of making a real estate purchase is what differentiates a good realtor from an ordinary one. Checking out the market and making the right decision at the right time may save thousands of dollars.
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