The 106 Common Mistakes Homebuyers Make (& How to Avoid Them), 2nd Edition

CDN$ 15.95

Grossly exaggerated!!! - This book is written for the benefit of real estate agents. I am constantly irrated by the author bragging on how real estate would make money. Based on what? His calculations are seriously flawed to a point that it is not even funny. He assumes one does not need money to maintain his/her house - no money out. I did a simple calculation which assumes $180,000 house with 10% down and 3.25% property tax and 6.5% interest rate on 30 years term. The out of pocket money WITH tax credit will run you up to $1100. If you add lawn mow, cable, water, electricty etc., you know what I am talking about. This is the money down the drain. You house needs to appreciate at least 9% to just break even, and how can the author say 4% appreciation rate would make you money?I give it 3 stars because it does provide some good comments like priorities you need to list out before you buy. It is still a good read on many other topics. I just hope the author can save his sales pitch.

Could have been far better if it concentrated on the top 25 - I am not sure if there are 106 COMMON mistakes homebuyers make. I think the number is probably more like 25. The author addresses ",common mistakes", which most of us wouldn t care about. For example, #44 ",Find out whether you will fit in with your neighbors", (do most of us even care what our neighbor thinks of us?) , #51 ",We seldom see the Sun here", (you mean not everywhere is like California????), #76 ",The worst they can do is say no", (*yawn*). Having said this, there are SOME good information here which is worth the cheap price of this book. Just don t expect all the 106 ",common mistakes", apply to you.

Good, but best as an adjunct. - Gary Eldred, The 106 Common Mistakes Home Buyers Make (Wiley, 2002)Reading this on the heels of Ilyce Glink s book may not have been a good idea, or it may have been a great one. I m not sure yet. The two mostly cover the same ground, though Eldred never even brings up the possibility of buying a home without a realtor (Glink glosses over it), and Eldred does get into a little more detail about a few things. He also has a more cynical attitude towards the subject than Glink, but then looking at the books titles alone should convey that well enough.A good adjunct, but not sure it would be as good a stand-alone tome, Eldred misses a few beats in telling you the options you have while he s too busy shutting the door on the options you should avoid. Best read in tandem with Glink. *** ½

Excellent for First-Time Buyers - This book is excellent for first-time buyers. It also is a good refresher for other buyers (we are in our third home). Good easy-to-read tips that are up-to-date. Better than any magazines for getting your money s worth.

A Should Have For Owner-Occupiers (And Future Landlords) - Through these enumerated boo-boos you can learn what to do correctly. By seeing through the window of these (potential) mistakes you can learn the correct way to carry out a real-estate transaction by knowing what needs to be known beforehand, and to avoid errors that will exist following a done deal. These mistakes often can be long-term and expensive. A lot of time was taken in this book to cover almost every aspect and scenario that is conceivable when you plunk down the funds to purchase a home. The focus here is on residential real-estate with the purchaser intending to become an owner-occupier.Detached homes, sociological trends, condos, investing, and closing out the mortgage are some of the many, many, factors detailed. Very helpful and informative.