Worst mistakes first-time home buyers make

By Dianne Nice, Globe and Mail

When Chris Kiskuna bought her first house in 1985, she was so anxious to close the deal quickly, she skipped the home inspection – a decision she paid for the first time she turned on the tap in the bathroom sink.

“The water’s running and I’m hearing it run everywhere and thinking, ‘What’s happening here?’ And I look under the sink: no pipe.”

Ms. Kiskuna, a regional sales manager at Royal Bank of Canada, says jumping into a deal is one of the most common mistakes first-time home buyers make. They fall in love with a property, worry about losing out, and throw caution to the wind or spend more than they should.

A house is one of the biggest investments most Canadians ever make, so it’s important to plan ahead, to think about what you need in a home and what you can afford.

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