Home Requirements

Save yourself a lot of time, possible disappointment and maybe even a considerable amount of money by working out exactly what your needs are before you start house hunting. After all, a home is more than the sum of the number of bedrooms and bathrooms. A home is where you live, relax, entertain friends, raise families, and work. A home is where you spend much of your life, so choosing a house is a very important decision.

Just about everyone has heard the age old real estate cliché ... "location... location.... location". But is location really THAT important? Yes, it is. Probably your choice of location depends primarily on where you work and whether you want to commute, and also on your family lifestyle. However, many other factors should be considered when choosing the location of your home. For example, while suburban homes can have the advantage of being newer, amenities like shopping or playgrounds may not be available yet in a new subdivision. Also take possible future development into consideration. Another very important factor is safety. If you are considering moving to an unfamiliar neighbourhood, take time to drive or walk around it.

Location

Style and Costs

Next to location, there are two other major factors you have to take into account: style (the kind of house you want) and the costs (how much you can afford). The best approach is to look at as many homes as possible. Even then you may have to juggle the factors location, style and costs and sometimes you may have to settle for two out of three. For example: the kind of house you want to buy may be available for your price, but not in the neighbourhood you prefer.

FUTURE RESALE VALUE

As a general rule, it is wiser to buy a modest home in the best neighbourhood you can afford than the most expensive home in a modest neighbourhood.

All neighbourhoods and communities have special characteristics that give them identity and value. One community may be well known for historic homes while another offers both suburban living as well as easy access to downtown shopping and entertainment. Once you have settled on a couple of neighbourhoods for your search, it is time to pick out a few homes to view. Which features are absolute requirements and which amenities would you like to have if possible? What kind of house are you looking for? In addition to single family homes (one home per lot) there are other forms of home ownership, such as condominiums.

With a condominium or condo, you own "from the plaster in", just as you would a single house. You also own a share of the "common elements", like staircases, sidewalks, roofs and the like. Monthly charges pay your share of taxes and insurance on those elements, as well as, repairs and maintenance. A home owners association administers the development. Condominiums can be townhouses, high-rises or low-rises. Generally condominiums are less expensive in price than single detached homes in the same area, while maintenance such as yard work and snow removal is eliminated. Condominiums can also offer extras, such as security systems and recreation facilities (pool, tennis court, et cetera). However, if factors like privacy and a large yard are important to you, a condominium is not a good choice.