5 Mistakes First-Time Homebuyers Should Avoid
Buying your first home is a major milestone — but it’s easy to make costly mistakes without the right guidance. At Trillion Sequoia Financial, we help first-time buyers navigate the process with confidence. Here are five common pitfalls and how to avoid them.
1. Skipping Mortgage Pre-Approval
Without pre-approval, you risk falling in love with a home you can’t afford. Pre-approval gives you a clear budget and shows sellers you’re serious.
2. Underestimating Closing Costs
Legal fees, land transfer taxes, and home inspections add up. Budget 1.5–4% of the purchase price for closing costs.
3. Ignoring Your Credit Score
Your credit score affects your interest rate and approval chances. Check your score early and fix any issues before applying.
4. Choosing the Wrong Mortgage Term
A 5-year fixed rate isn’t always best. We help you compare terms based on your goals, income, and risk tolerance.
5. Not Working with a Mortgage Broker
Banks offer limited options. As a licensed brokerage (FSRA #13795), we shop the market for the best rates and terms.
Ready to buy your first home? Contact us today!
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Trillion Sequoia Financial International Inc., operating as Trillion Sequoia Financial, is licensed by the Financial Services Regulatory Authority of Ontario (FSRA), License #13795.
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Richmond Hill, ON, L4B 1K4, Canada
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