Buying your first home is one of life’s biggest milestones—but it can also be overwhelming. With so much information (and misinformation) out there, it’s easy to make mistakes that can cost you time, money, and peace of mind.
Here are the top five mistakes first-time homebuyers make in the Fraser Valley—and how you can avoid them.
1. Not Getting Pre-Approved for a Mortgage
Many buyers start house-hunting before knowing what they can afford. Without pre-approval, you risk falling in love with a home that’s out of reach—or worse, missing out on a great opportunity because your financing isn’t ready.
Solution: Get pre-approved early. Not only does it define your budget, but it also shows sellers you’re serious.
2. Underestimating the Full Costs of Homeownership
The purchase price is just the beginning. Closing costs, insurance, utilities, and maintenance can add up quickly.
Solution: Budget for at least 3–5% of the purchase price in closing costs, plus a buffer for ongoing expenses.
3. Skipping the Home Inspection
In competitive markets, some buyers are tempted to skip inspections. This can lead to costly surprises down the road.
Solution: Always get a home inspection. A small upfront cost can save you thousands later.
4. Choosing the Wrong Location
The home itself matters, but location often matters more. Commute times, schools, amenities, and future development plans all impact your quality of life and resale value.
Solution: Spend time in the neighborhood before committing. Visit during rush hour, weekends, and evenings.
5. Trying to Do It Alone
Many first-time buyers think they can navigate the process without professional help, relying only on online searches. This often leads to missed opportunities or poor negotiations.
Solution: Work with a REMAX Elevate Realty who specializes in first-time buyers in the Fraser Valley. We’ll guide you through financing, contracts, and negotiations.
Buying your first home should be exciting—not stressful. By avoiding these common mistakes, you’ll be better prepared to find the right property and start building equity.
👉 Ready to start your homeownership journey? Contact REMAX Elevate Realty for a no-pressure consultation. Our team is here to guide first-time buyers every step of the way.
Join The Discussion