Buying a home is exciting—but it can also be overwhelming.
In Toronto and the GTA, where competition is high and prices move quickly, buyers often make avoidable mistakes that cost them thousands of dollars or even the home of their dreams.
At the Pileggi Real Estate Team, we’ve guided thousands of buyers over the years. Here are the top 5 mistakes we see—and how you can avoid them.
Mistake #1: Skipping Mortgage Pre-Approval
Many buyers start house hunting before knowing what they can afford. Without a pre-approval, you risk falling in love with a home only to discover it’s out of reach—or worse, losing it to another buyer who’s ready to go.
Pro Tip: Get pre-approved before you shop. This shows sellers you’re serious and gives you negotiating power.
Mistake #2: Overlooking Hidden Costs
It’s easy to budget for your down payment and mortgage, but many buyers forget about land transfer tax, closing costs, inspections, and insurance. These can add up quickly.
Pro Tip: Set aside at least 1.5%–2% of the purchase price for closing costs so there are no surprises.
Mistake #3: Believing “Too Good to Be True” Listings
Some homes are priced low to attract a bidding war. Others may hide costly repairs. Jumping in without due diligence can be risky.
Pro Tip: Always review comparables with your realtor and schedule a professional inspection before firming up a deal.
Mistake #4: Waiting for the “Perfect” Time
Markets shift, and waiting too long often means missing out. Many buyers who waited for prices to “drop” ended up paying more later.
Pro Tip: Focus on your long-term goals. If the home works for your budget and lifestyle now, it’s worth serious consideration.
Mistake #5: Going It Alone
Buying a home is complex, especially in Toronto’s fast-moving market. Without professional guidance, buyers can miss opportunities, overpay, or overlook hidden red flags.
Pro Tip: Work with a knowledgeable team that protects your interests every step of the way.
Our Solution: Confidence With a Guarantee
Buying a home should feel exciting, not stressful. That’s why we offer:
This home comes with our exclusive LOVE IT OR LEAVE IT GUARANTEE!*
If You're Not Satisfied With Your Home Purchase Within 18 Months, We'll Buy it Back or Sell it for Free!*
*Seller and Tom must agree on price and terms. Conditions apply.