You might not have thought about it before, but renovating your basement can significantly increase the value of your property. By renovating your basement and transforming it into something functional, you are creating an additional living space that people can make use of.
 
If you’re thinking that fixing up your basement will only waste your time and money, think again. Studies show that basement renovations regain about 70% of their costs at the time of resale.
 
Here are some awesome transformations that you can do to increase the value of your basement:
 

Bar

Your basement is a perfect space where the grown-ups can hang out. You can easily set it up by including a bar counter, stools, and your favourite booze. You can also add a cozy sofa to make the guests feel comfortable. And a big TV screen so you can watch your favourite movie while drinking. Whatever you feel like including. You have the freedom to customize the space depending on what you love to do with your friends.


Game room

Another way to upgrade your basement is by turning it into a game room. What’s more exciting than a home arcade? Set it up with your favourite arcade games, or maybe a PlayStation. How about some board games for bonding with the whole family? No need to go out of the house for some recreation. Perfect during this time when we are advised to stay at home.


Gym

Take this extra room as an opportunity to build your own personal gym! Your main expenses will only be the gym equipment. You can actually save more money in the long run as you wouldn’t need to pay for your gym membership. Plus, it’s a safer option during this time. But since this is the basement and there is limited airflow inside, you might need to do some renovations to improve the ventilation.


Home Theatre

If you think about it, the basement is the perfect place to have a home theatre. It’s cool, it’s dark, and you have enough space to mount a television or projector, and some comfortable reclining chairs. Home Theatres are on trend and a great way to bring the family together! 
 

Additional Bedroom

By renovating your basement, you could even create additional bedrooms. You can easily transform your basement into a bedroom by adding a bed and a closet. Trust me, you’re going to have a blast decorating and filling up your basement with furniture!
 
The only problem you might encounter in creating a bedroom is adding a form of egress or a way to exit the property in case of emergencies. Depending on how your basement is structured, it might take some effort to create a window that is big enough to escape to in case of emergencies.

 

Which transformation did you like?

We hope you find more value in your basement with all these ideas. The most neglected area in your home can actually be transformed into something beneficial and might actually improve your home. Renovating your basement might cost you some money, but think of it as an investment. When you create an additional living space in your home, your house will increase its value upon resale.
 
Don’t limit yourself to this list. Be creative and think of ways you can maximize the area in your basement. Click here to contact our team today for trusted contractors and trades in the Ottawa area to get started.
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The big day is just around the corner: it’s almost Moving Day for your family! But before you can enjoy the fruits of your brand new space, we know how stressful moving can be, especially when you have kids. With all the logistics to worry about, it’s a surprise not everybody goes nuts.

However, don’t go on mistaking that you’re the only one experiencing stress as the parent and the adult in charge. Moving can be complicated for anyone, regardless of age, and that includes your child. As adults, it’s easier for us to adapt than younger ones. What might be a breath of fresh air to the parents can be a source of stress for children. Change is a bit tougher for kids, and saying goodbye to their friends and the space they’ve grown up in can take a toll on them.

That said, learning how to prepare them for a big move goes a long way towards their well-being and yours. When you include your kids in the process, you help them navigate this scary yet exciting adventure ahead.

To get you and your kids ready for the big moving day, we’ve listed some tips that can help your family better adjust for this milestone ahead.

1. Give them a heads-up

As a kid, nothing could be worse than waking up to see all your stuff gone while mountains of boxes are loaded on a moving truck. Moving isn’t always a pleasant surprise to children, so let them know as early as you can. Once you have finally decided about the move, talk to them and explain why. There’s no point in keeping it a secret, and doing so might harm your relationship, so best to be transparent.

An early talk with the kids will give them ample time to adjust and to say their goodbyes. On a more positive note, you’ll also be able to get them pumped up for the move early on as you give them a picture of your future home life.

2. It’s all about teamwork

When we talk about getting your kids involved, we don’t mean making them carry heavy boxes. Get them involved in the process by asking them to pack their stuff such as toys, plushies, books, and school items. Or better yet, ask them questions about how they’d like their new space to be. Talk about possible themes, decorations, wall colors, and more. In short, brainstorm with your kid.

3. Give them a little taste

Kids tend to be more cautious toward anything new. After all, they’ve still got a lot to figure out about the world. And much like when we’re served with new dishes, kids would also appreciate having a small taste of their future space before moving. Preparing your children for the move will help lessen their anxiety. You can start this off by visiting the neighborhood and enjoying the fun activities they can do there. Visit the local park. Dine in a local restaurant. From there, you can ease them into the new house by going with them for visits, showing them their new room, and laying out the vision of the house, no matter how silly it is (a giant swing in the middle of the room? Sure, why not!). Remember, it’s a crucial transition for them, so take it slow and enjoy the process together.

4. Make it a fun experience

Hopefully, when moving day arrives, your kids aren’t just left watching you or the movers load and unload boxes. Instead, find ways to make this a memorable day for them. You can assign them light tasks like looking after the family pet, or you can hand them a kid-friendly camera and have them document the move. They’d surely appreciate seeing those photos one day when they decide to look back on the memory of the place they once called ‘home’.

5. Moving day or not, let kids be kids

It’s easy to be caught up in all the stress of moving. However, don’t forget to be extra patient and understanding toward your kids on a moving day. Don’t expect adult behavior from them, and don’t reprimand them if they do something you dislike during the big day. If they get upset about it, don’t invalidate their feelings. Instead, listen and provide comfort. Take this as an opportunity to strengthen your bond.

Once the move is complete and your kids are tucked safely in their new bedrooms, pat yourself on the back and maybe open a bottle of wine — you deserve it for a job well done. Time to enjoy your new home!


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When it comes to your kids, ensuring that they are equipped for whatever life throws at them is crucial. One aspect of that is finding the right school and community for them. So it’s no wonder that from June-July, families are more likely to move places, in search of the right community, environment, and half the time, a great school district. Whether you’re moving schools or not, juggling your kids’ back-to-school needs and house hunting can be overwhelming. After all, you’re human, too! That said, we’ve listed some tips to help you lock in these two things.

1. Plan your timing

If you’re looking into moving houses, doing it while your kids are still in school would be an extra layer to peel off. It’ll be more challenging to juggle the ongoing school calendar and a house move. To add to that, if you’re moving to a new school in the middle of a school year, it’ll be tougher for your child to integrate comfortably. That’s why families often move during their kids’ summer break. It’s perfect as it’s when the family has more time to tackle an undertaking like this. In short, planning and giving yourself the right time window to do this goes a long way.

Don’t start listing and hunting for a new place just when summer’s about to start. Instead, spread yourself out throughout the year. Expect or make it a goal for your move to be around your kid’s summer break. It’ll be less stressful not just for you, but for your child, too. You’ll both need ample time to prepare, so don’t haste the process.

2. Get some help

Moving houses can take up a lot of time and energy. To add to that, you still have to list your current house and look for a new home before you can even think about hiring that moving service. Between work, family, and your kids’ back-to-school needs, finding the time to even go through the barrage of listings can be difficult. One way to help offload the pressure is to hire an agent. Enlisting a real estate agent will brush off some stress and will help you find the right place for your needs. You’ll have some peace of mind and more free time to spend with your family.

3. Patience is a virtue

Imagine hunting for a place way too late and now you’re rushed by time. Your kid is about to go back to school, and you’re in a hurry. You’re more likely to take a bad offer or take up the least ideal home to be in. No, no, no, we’re not going to have any of that, right? Remember, it’s best to spread this throughout the year. This way, you’ll have a large elbow room to move in. If anything goes wrong, there’s the benefit of having enough time to pick the pieces. It takes the stress of being rushed away. Don’t get us wrong, if your agent finds the perfect place and offers, go for it. Strike a deal to move in the summer or find a seamless way to get it done in the school year.

4. Balance your time and effort

Remember that you’re also taking care of your kids’ return to school. Whether it’s moving to a new one or just getting them ready for a new school year, making sure they are ready and feeling confident for the year is important. So balance your time and effort to ensure they are a-ok for the year. Being prepared will go a long way and help ease their minds and yours. Make sure to involve everyone, too – it’s a family effort and milestone so don’t miss the chance to spend it with them.

5. It’s go-time

Multitasking can be a difficult thing to do for anyone. It can be taxing and stressful, but being prepared and taking your time can be of gigantic help. Taking these steps with your family makes it a lot easier too. We’d be remiss to digress that this is a phase of change, and change isn’t easy to come by. It can be overbearing, so make sure to check in on your kids and involve them in the process. Make house hunting and back-to-school preps fun for the family. And when you’ve finally nailed down the house and called the moving service, you can check our recent article on “How to take the stress of moving with kids” to help get the job done with peace of mind. Have more questions in mind? We would love to hear from you. Click here to reach out today to get started!
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Buying your first rental property is a big decision and a huge leap forward for any aspiring investor. A rental property is one of the largest assets that you can own and can be a great way to generate passive income. However, all investments come with a risk. Owning a rental property can also require various skills, lots of time, and hard work on your part as a landlord.

So, before you decide to buy a rental property, ask yourself these questions:

Questions to Ask Yourself Before You Buy a Rental Property in Ottawa

  • What are my financial goals?
  • Am I prepared for the extra expenses?
  • Where is the best location for my rental property?
  • Am I ready to be a landlord?
  • Who will manage my property?
  • Have I weighed the risks vs. the rewards?

5 Steps to Buying Your First Rental Property in Ottawa

1. Arrange your financing

The first step to buying any property is to get pre-approved to know how much money you can qualify for. Once you have secured financing, it will be easier to make decisions once you start searching for the perfect rental property. Properties often require at least a 20% down payment. So, once you know how much you can borrow, you can easily determine your budget.

2. Determine your ROI

Before diving into any investment, you must consider your return on investment (ROI). During the early stages of the home buying process, you must at least have a rough estimate of your return on investment (ROI).

You can calculate your ROI by finding the property’s net annual income. The net annual income is the rental income that is left after you have paid for all the expenses. These expenses are composed of taxes, monthly mortgage, insurance, property management fees, repairs, vacancy period, and any other utilities that you pay for as a landlord.

By calculating your ROI, you can determine if the rental property is a good investment or not.

3. Find a rental property

When it’s finally time to search for a rental property, make sure that you know how to spot a good one. The first step is doing your research so that you know what to look for. You would want a house that requires low maintenance and has limited vacancies. This allows you to have a good rent-to-value ratio.

It might be tempting because of its low price, but you would want to avoid fixer-uppers for your first rental property as it will cost you too much money to renovate.

When scanning neighbourhoods for your first rental, there are a few specific requirements you should be looking for. In a nutshell, you want a house that requires low maintenance, has limited vacancies and allows you to have a good rent-to-value ratio.

4. Hire a property manager

When you finally secure your rental property, it’s time to manage it. Unless you are self-managing, you would want to hire a property manager that can take care of your property. The tasks of a landlord include finding and screening tenants, making contracts, collecting monthly rent, and taking care of repairs and other issues that may arise. Aside from these tasks, owners must keep themselves updated about the landlord-tenant laws in their area. Owners should also keep their operating expenses under control and the rental property returns growing.

Owners who have no time or don’t want to become stressed with the day-to-day tasks of being a landlord can hire a property manager. When you hire a property manager, you can reap the benefits of having a passive rental income with only a small expense to pay.

5. Track income and expenses

Keeping a record of your income and expenses should be an ongoing task if you want to succeed at being a rental property owner. Taxes, insurance, utilities, repairs, and other expenses can eat up your profit. This will also help you cut down on expenses on things that aren’t necessary. Make sure that you know where your money is going to assess whether you will be able to make a profit in the long run.

Are you ready to buy in Ottawa?

Think carefully and do enough research before buying your first rental property. When investing in property, it’s important to understand the risks and to keep a long-term view. Once you do it right, your rental property will soon be able to provide you with a stable cash flow and positive returns.

Have more questions about rental properties in Ottawa? Click here to connect and we will be happy to answer all your questions.

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Investing in real estate has been proven to be a great option for past generations of investors. However, many millennials are opting out of the market and choosing more flexible investment options. The popularity of stocks and new forms of investments like cryptocurrencies have become a popular option for millennials since they only require a small amount of capital and the returns are quicker.

However, investing in rental properties can be a great entry to investing in real estate since it can serve as a long-term passive income while providing cash flow. Millennials also have the advantage of knowing how to market their rental properties to the younger generation.

Investing in real estate might not give quick returns, but it is profitable in the long run. Here are several ways millennials can start investing in rental properties.

1. Establish your credit score

Your credit score can have a big impact on getting approved for a mortgage and getting good terms. Many millennials struggle with building their credit score because of financial constraints. While it might take some time and effort to establish a credit score that’s good enough to be accepted by lenders, there are still many simple steps to improve it.

How you manage your credit card is one factor that can have a big impact on your credit score. It’s important not to go over your credit card limit and to make timely payments. If you are unable to pay your total balance, make sure to pay at least a portion of it before the due date. It’s important to keep your credit at 30% or less of your total credit limit. 660+ is considered a good score.

2. Save up for a down payment

The next step is saving up for a down payment. Once you are pre-approved for a loan, the down payment is the biggest chunk of money that you will need when buying a rental property. You would need to deposit at least 20% of a property’s contract price. To prepare for this, you can do your research in advance on the market value of current listings before you decide to buy a rental property.

3. Calculate the rental property’s ROI

Once you have a target rental property, you’ll want to calculate the property’s potential return on investment. You’ll need to get initial figures on monthly rent prices in the area as well as your expenses. For the expenses, you’ll need to consider the initial expenses, operational expenses, vacancy periods, repairs and fixtures, among others.

The best way to calculate a property’s ROI is to analyze the current market trends and to make sure that you are accounting for all the expenses, including the interests. You’ll also need to identify and assess the risks. Projecting your ROI is the best way to decide whether the investment is worth it in the long run.

4. Manage the property on your own

As a millennial starting out in the rental industry, you can skip hiring a property manager and choose to manage it on your own, especially if your budget is too small. Managing a property can seem easy to do, but it can also take a lot of time and hard work.

You’ll need to learn certain skills that will help you manage the property efficiently. First, you’ll need to know the right qualities to look for in a tenant. You’ll also need to know how to write a sound contract and you’ll need to set property rules. You’ll also need to know how to handle unruly tenants and other conflicts that may occur. Moreover, accounting for your finances and knowing how to repair broken fixtures are also skills that you’ll need.

5. Consider house hacking

House hacking is buying a property, such as a single-family home or duplex, and having parts of your home rented out to generate income. House hacking is popular among millennials because it is a great way to cut down on housing expenses. When you commit to this type of investment, you’ll be able to cover your mortgage and monthly utilities while enjoying tax deductions. It is also a great start if you want to ease into investing in more rental properties in the future.

Investing in real estate might seem like a big commitment, but it’s a smart long-term financial move. Not only will you yield high capital gains, but you’ll also have a regular cash flow available while benefitting from tax deductions. Make sure to follow these tips to make your investing journey easier.

Interested in diversifying your investment portfolio with real estate? Click here to contact our team today for an up-to-date list of potential rental properties around the Ottawa area.

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Different home buyers have different criteria when it comes to looking for a new home. Some buyers purchase a home because of its location. Some buyers prioritize the size of the house, especially if they have a growing family. However, they all have one thing in common – they want a home where they can live comfortably and a property that will increase its value over time. Aside from the specific features that they want in a home-based on their preferences, they want a house that will be worth their money.

If you are selling a home or planning to sell one soon, it would be best to know what today’s homebuyers are looking for. This will help give your property an advantage to get you a good offer. Here are just a few things about what today’s homebuyers are looking for:


Accessibility

An important thing that homebuyers look for in a home is its location. This would probably be the first thing that most homebuyers consider when looking for a home. They start with the location. Is it near their workplace? What are the nearby establishments? Are there parks, groceries, hospitals, and schools? What about transportation? It would be convenient if public transportation was accessible. If the home buyer prefers driving his/her car, he/she would want to check the traffic and know how long it takes to drive in and out of the neighbourhood.


Hardwood floors

Most home buyers prefer new homes with hardwood floors. Aside from its clean appearance, it is more durable and easier to maintain than carpets. Carpets need to be replaced after a few years and also need to be cleaned regularly. If it gathers too much dust and dirt, it can trigger allergies and be a cause of sickness. With hardwood floors, they just need to be swept from time to time. To make it look new again, it just needs to be refinished based on the homeowner’s preference.

If the home you are selling currently does not have hardwood floors and you want to upgrade before you sell, you might need to spend some cash as hardwood flooring can be a bit pricey. Fortunately, there are cheaper options like engineered wood flooring. This alternative can help you achieve the look and durability of real wood but at an affordable price.


Outdoor living spaces

Another feature that home buyers look for in a home is outdoor living spaces. Staying inside the house for too long can sometimes feel suffocating. So some people prefer to have an outdoor space where they can hang out while still within the confines of their home. This outdoor space could be an additional living space without the cost of a large-scale home addition.

Make sure to take care of your patio or backyard and make it look nice. If home buyers see the outdoor space in your listing or for an open house, your property will have an advantage over your competitors.


Energy efficiency

Many homebuyers are starting to realize the importance of an energy-efficient home. From benefits like savings in electricity and water bills, environmental friendliness, and using smart home technology, having an energy-efficient home can make it stand out from the rest.

If you are building a home from scratch, make sure that you incorporate a smart design. If you want to transform your current home, you can do so by installing smart home devices such as smart light bulbs, locks, and appliances. Have solar panels installed at home and make sure that you have energy-efficient heating and cooling systems.


Laundry room

When people buy a house, they don’t only look at the living room and facade. Homebuyers these days are practical. When you think of day-to-day living, having a comfortable laundry room is one of the most helpful things in the house.

People don’t like turning other rooms into a laundry room, especially so they can keep the mess of dirty laundry just in one place. Having a separate, spacious room where they can wash, dry, iron, and fold clothes can increase the value of your home and make it more attractive to buyers.

Of course, as a home seller, you might not meet all the expectations of home buyers and that’s okay. Make sure to highlight the good and unique features of your home and improve it in areas possible. In the end, it all comes down to setting the right expectations for the buyer. You can also work with hiring the right real estate agent that can help you find the right buyer for your home.

Click here to contact us today for advice and recommendations to get your home ready to hit the market.

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MOVING! The very thought of it can send chills down our spine and can cause us to break out into a cold sweat. Experts say that any kind of “change” creates “stress”. Moving, (and especially if we are relocating to a new city or province), represents a huge change and naturally brings a great amount of stress along with it. This can be a double whammy, because stress can lead to a lack of energy and motivation. Many of us tend to procrastinate during stressful periods of our lives. This is one time, though, when we must rise above that.

When preparing for a move, we need to put the pedal to the metal and get a lot of things done.

This checklist contains many suggestions that may seem like “no-brainers”. However, the very act of printing out these simple suggestions and reminders can become a significant security blanket as the dreaded time approaches. Moving and relocating calls for being proactive, grabbing the bull by the horns and actually completing certain chores well in advance of their deadlines.

Hopefully, this little article will help you to accomplish that.

1. Get rid of what you don’t need.

Many of us are “pack rats”. One thing that we can accomplish immediately is going through all of our “stuff” and getting rid of what we don’t need anymore. Moving unwanted clothing and bric-a-bracs from one place of residence to another is a great waste of time and effort. It is surprising how much more in control we feel once we start narrowing down our “inventory” to what we actually need to keep. Getting rid of unwanted items can be done by having a garage sale long before moving and then donating the leftovers to the Salvation Army or other charitable groups.

2. Get all important papers and documents together and secure them.

Since moving is hectic, to say the least, we need to be aware of the exact location of all of our important items. Things that we absolutely must not lose or misplace should certainly be hand-carried, not put in a box for the movers:

Address Books, Birth Certificates, Bank Statements, Checks, Credit Cards and Statements, Home Movies, Irreplaceable Memorabilia, Insurance Policies, Marriage Records, Medical and Dental Records, Military Records, Passports, Photos and Photo Albums, Resumes, School Records, Stock Certificates, Tax Returns, Telephone Numbers, Valuables, Vehicle Documents, Wills.

3. Prepare well in advance for living in your new location.

There are many things that we can do at our new location well in advance of our move that will help smooth out the bumps and grinds of our relocation process when the actual event occurs: Open up new bank accounts. Open up a new Safe Deposit Box. Contact the new area utility companies and arrange for your new services. These can include Cable TV, gas, electric, oil, telephone, water and Internet access. Arrange new medical providers. If you are moving to a new state, contact Service Ontario and get the forms necessary to re-register your vehicles. Contact your insurance companies and find out if your car insurance, homeowner’s insurance, etc. can be transferred. If not, find an Insurance Broker in your new area and discuss your needs and requirements for new policies. Go to the post office and get a moving kit. Prepare change of address forms for all of your correspondents; credit card companies, other credit accounts, banks, insurance companies, current utility companies for final statements, magazines and other subscriptions, family, friends, and any other persons or businesses that you correspond with on a regular basis.

4. As time approaches, have the important numbers handy.

As moving day approaches and when the moving process actually begins, you don’t want to be hunting for phone numbers in wallets, purses, or address books. Have a nice new notebook or electronic notebook ready with all important phone numbers written clearly and legibly for both your old and new contacts: Banks, Doctors, Emergency contacts, Family members, Friends, Landlords or Real Estate Brokers, Movers, Pharmacies Schools, Storage Facilities, Utilities.

With proper planning and preparation, the moving process, though never fun, can at least be sane.

Click here to contact our team for our free Sellers Guide and Moving Checklist today!

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Seasoned investors and previous homeowners probably already know that one of the most crucial factors that affects a home purchase is the homebuyer’s credit. Having strong credit can give the buyer an advantage when applying for a loan. It will determine whether or not your application will get approved and how much your interest rate will be.

When planning to buy a home, it is a basic requirement to check your credit. But most first-time home buyers tend to overlook this step and commit mistakes regarding this matter. To let you do things differently, here are 6 credit mistakes that first-time home buyers should avoid:

1. Not reviewing your credit report earlier

It is a common practice for home buyers to review their credit report. But some homebuyers fail to review their credit report early and end up not having enough time to fix the errors and concerns encountered. When you are seeing your credit report for the first time, some concerns that you may encounter may include wrong identification, wrong address information, or incorrectly reported accounts. These can have an impact on your credit score and can affect your mortgage application. Make sure to review your credit report early as these issues may take a while to be resolved. It is better to get everything resolved before you proceed with your loan application.

2. Not cleaning up your credit before applying for a loan

As mentioned in the previous point, all issues concerning your credit must be resolved before you proceed with your loan application. This includes cleaning up your credit. Unless you can purchase a home in cash, you will definitely be applying for a loan and the lenders will probably be looking at your credit score.

To have a good credit score, it is important to clear all debts and pay your bills on time. As soon as you think of buying your first home, whether it’s months or a few years away, the best thing that you can do aside from saving up is by making sure you have a good credit score. The earlier you start, the more time you have to fix your credit. You should aim for a higher credit score as it will give you a higher chance of getting approved for a mortgage with lower interest rates.

3. Not getting pre-approved before house hunting

Once you have identified how much you can afford for your first home, it doesn’t necessarily mean that you are ready for house-hunting. Setting your budget wouldn’t be enough for you to be able to find your first home. It would be easier to find a home and provide a proper offer if you have a pre-approval.

Getting pre-approved has a lot of advantages for buyers. For instance, sellers will be more likely to accept your offer as they will look at you as a serious buyer. Having a pre-approval is proof that you are capable of financing your property purchase. Hence, your credibility as a buyer will be an advantage when sellers assess the offers presented to them.

4. Accepting the first mortgage offer

Another credit mistake that first-time homebuyers tend to commit is not looking at multiple lenders. If your credit score is not as good as you expect it to be, it might be tempting to accept the very first mortgage offer that you get approved for. However, this first mortgage offer might turn out to have a higher interest rate. As a result, you will end up paying more money in the long run. Keep in mind that accepting the first offer isn’t always the best decision when it comes to your mortgage.

Discuss with your real estate agent and identify what is the best strategy for you. If you do not have a very impressive credit score, evaluate your finances and assess how long you will be able to raise your credit score. If you think you can fix your credit score soon, giving yourself a few more months before you accept a mortgage might be a good strategy. This will give you time to improve what needs to be improved. In return, you’ll be able to save more money as you will get to receive mortgage offers with lower interest rates.

5. Ignoring first-time homebuyer programs

When you see those negative online reviews and actively avoid the red flags, nope, you’re doing it wrong! Research to access previous reviews from other homebuyers to cross-check the credibility of your target first-time homebuyer programs. You can also consult with your real estate agent. This helps you check the authenticity of the listing, considering the previous experiences of other first-time home buyers and the information from your agent. More importantly, this enables you to check if there are other first-time homebuyer programs that you can consider before finalizing the purchase.

6. Opening credit during the underwriting process

While you are waiting for the closing of your property deal, you will definitely be excited about your move-in date. You have probably thought of the furniture that you will be purchasing for your home and how you will decorate your new home. This entails more expenses and you might have considered getting new credit. However, you need to keep in mind that this isn’t a good idea. Your mortgage pre-approval is based on the current credit record and debt-to-income ratio by the time you applied. Hence, adding more credit can jeopardize your loan application and approval.

After all, these six mistakes can make or break your investment. By avoiding these six mistakes, you get to save more money and make the most out of your first real estate purchase. To ensure that you’re committing to the right choice, do not hesitate to reach out to your real estate agent. We will always be more than willing to help you make the right choices for your first real estate investment.

Click here to contact us for our free Buyer's Guide and get your home search started today!

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