Thinking of Buying a Home? Determine Your Priorities First!
If you’re thinking about buying a home, there are many steps and important considerations to make in order to ensure that you’re happy with your purchase.
Finding the Right Property
Before beginning your property search, take the time to consider your needs thoroughly. If you’re dreaming of a large, modern home in the suburbs, carefully think about whether this type of property really matches your priorities. It’s important to distinguish your dream home from the one that actually meets your needs.
Your Needs
Every family has its own needs and priorities. What are you looking for in a property? How many bedrooms and bathrooms will you need? Is a dining room absolutely essential for you, or would a large kitchen be enough? And what about the garage? Will it turn into yet another storage space? As you can see, there are many options and it’s important that you carefully analyze your needs.
Your Tastes
Consider your style. If you’re not enthusiastic about do-it-yourself projects, avoid homes that require major renovations. And even if a spacious yard seems attractive, are you willing to spend the time mowing the lawn, picking up leaves and trimming hedges? If you prefer city life you’ll have access to theatres, services and restaurants, but it may be noisier and you will not have as many green spaces.
What’s Your Budget?
Don’t make the mistake of buying a home that is out of your price range. To find the home that’s right for you, adapt your needs to your budget. Once you’ve become an owner, your investment will start to increase in value and will eventually help you access a home that is closer to your ideal. In the beginning, it’s important to put savings aside for small purchases and unexpected expenses. Ensure you have enough money for maintenance costs such as insurance and repairs, as these can amount to 2% or 3% of the price of your home per year.
Your Environment
The environment is also an important factor. Is there a daycare or school nearby? Can your children take public transportation or will you need to drive them around? Will you need to buy a second car? Consider the distance between home and work too.
Your Real Estate Broker
You can trust your real estate broker to find the right home for you by providing a detailed description of the home you want. Take the time to clearly explain your priorities in order for your broker to properly evaluate homes that are most likely to suit your needs. It’s important to remember that real estate brokers are key partners when you decide to buy a property. They have access to the MLS® system, which provides an extensive database of the most detailed comprehensive listings on the market today. In addition to being experienced negotiators, real estate brokers advise you on many aspects during the transaction, such as which type of property and what location best suit your needs, what kind of resale value you can expect, financial matters, and much, much more! To find a real estate broker – as well as thousands of properties – visit www.centris.ca, Québec’s real estate industry website.