Whether you are buying your first home, second or third home, there are some very common mistakes that buyers make time and again. Here are things to consider when you are purchasing a home:

• Not understanding the local market and all that is available. Is it a seller's market or a buyer's market?
• Looking at too many homes. Be selective – don't try to see everything both in your price range and properties not in your price range. If you can't afford a home, don't look at it or you will be disappointed when you learn it is too expensive for your budget.
• Don't be a victim of weak negotiating – this mistake alone can cost home buyers thousands of dollars. Use an experienced realtor who knows how to work and negotiate the best deal for you.
• Not scheduling a home inspection! It may cost you money up front, but could save you time and money in the long run. Use an experienced, reputable home inspector.
• Not understanding all available financing options. Contact a lender or mortgage broker for pre-approval and to get the best rate on the market.
• Not previewing schools, shopping and other neighbourhood amenities. Also, check the zoning: is it R-1 or R-2? Is there zoning for future commercial development nearby?
• Your dream home is in an undesirable neighborhood. You can improve/change the house and lot, but you can't change the ones around it! If the properties around yours are not increasing in value because of the neighborhood, in the end you will lose money on your investment.