Buying a home is a big purchase and it can be overwhelming especially when you are a first time home buyer. This is why it is important to get all the information you need before making this big purchase.
 
Here are the three most common mistakes by first time home buyers:

Closing Costs

Many first time home buyers don't think about closing costs and this could be a big surprise at the end of the purchase. Therefore, it is important to not only think about the 5% down payment but to also put aside 2% to 3% for closing costs. Closing costs can include, but are not limited to: land transfer tax, lawyer fees, adjustments and banking fees.
 

Pre-Approval & Credit Score

Speak to a mortgage specialiast and check your credit score. Your credit score plays a major role on the rate and lenders that are available to you. This is very important to do before purchasing a home and if you find a discrepancy in your score then you can try to fix it before applying for a mortgage. 
 

Location 

Location drives pricing and this is why it is important to think logically of where you would like to live. Also think about your current lifestyle and keep in mind of where you would like to be in five years as this will help narrow down where it would be best to move to.