Buying a Home? Here are 10 Factors to Consider
The process of buying a home is complex and time-consuming, and it’s easy to get lost. Writing down your priorities is a helpful way to guide you through the process without forgetting some features that are important to you and your family.
Your low-commission real estate agent in Clarington also wants to know your priority list. By knowing which features are most important, you can weed out homes that aren’t right for you and compare homes that are.
In this article, we discuss what to consider when buying a home for the first time. Each holds different importance to the individual buyer, but all points are worth considering. If you have not given these factors serious consideration, now is your chance.
If you are buying a home with your special someone, discuss it to make sure you agree on the importance of each feature. Here are a few tips for buying a home.
- The Neighbourhood and the Surrounding Areas
When you are looking for a new property, it is important to remember that you are not just buying a house or an apartment. You are also joining a community. That’s why it is vitally important to find a neighbourhood that suits your needs before making any purchase.
Do you want a secluded getaway in the forest or the energy of a bustling city center? Would you prefer to be able to walk to a coffee shop each morning or would you rather not have to deal with noisy neighbours? Whatever your heart desires, make sure to do your research before starting your search.
If possible, take a drive and spend some time in the area. Go out to eat at local restaurants and take a walk through nearby parks. Once you find areas that you like, your real estate agent will provide assistance when buying your dream home. He or she will use this information to focus on showing you properties that will have you feeling comfortable.
- Location and Size of the Lot
Lots are often an afterthought for buyers, but they should be a key consideration. The lot is the one thing about a property that can’t really be changed. Keep in mind that you could always demolish a house and rebuild it from scratch, but the lot will always stay the same.
When evaluating properties, give careful thought to the lot’s location and size. Do you want a big backyard for your kids to play in? Does the lot have a view that you could see yourself enjoying for years to come?
If anything about the lot seems like a compromise, do not hesitate to walk away. It will be easier to find a similar property on a better lot than it will be to continually settle for a less-than-ideal location.
- Number of Bedrooms
When considering the number of bedrooms your home should have, think about your current and future needs. Most families want at least two bedrooms, and if you have children, you may need even more.
Some families want their kids to share bedrooms, while others prefer separate bedrooms for each child to accommodate different bedtimes and study habits. If you have regular visitors, it’s nice to have a dedicated guest room.
An extra bedroom often doubles as an office, den, kids’ playroom, or exercise room. Many hobbies can require working space and storage for supplies, so an extra bedroom serves this purpose well. Think carefully about your lifestyle and what will enhance it before making a decision.
- Age of the Property
As you search for your dream home, keep in mind that age does matter. Both older homes and brand-new construction have their own set of pros and cons. Before you submit an offer, be aware of what you’re getting into. If you are drawn to the charm of older homes, look for properties with irreplaceable character. If you prefer newer homes, take advantage of modern amenities like dumbwaiters and hidden servant’s staircases. But remember, older homes usually require more maintenance than new ones.
- Kitchen Layout
Functionality is an important consideration when it comes to kitchen layouts. If you spend a lot of time cooking and entertaining, you may want to opt for a more open layout. On the other hand, if you do not do much cooking, a smaller or more enclosed space might work better for you. It is crucial to think about how you will use the kitchen and what will work best for your needs.
- Age of the Appliances
Appliances are a big investment for any home. If they’re more than 10 years old, it’s probably time to start thinking about replacing them. This goes for ovens, refrigerators, and any other major fixtures. Always check to see that the appliances you want are included in the sale before you finalize your purchase.
- Bathroom
When considering buying a home, think about how many bathrooms it has and how that will fit your needs. For example, if you have children or frequently have guests over, you might want more than one bathroom. Also consider whether each bathroom has a shower and/or bathtub, as well as whether the size of the bathroom is important to you. And finally, ask yourself if there is the potential to add another bathroom to the house if necessary. Keep all of these factors in mind during your search for the perfect home.
- Cost That is Within Your Budget
Remember that there are more costs of buying a home to consider than just the monthly mortgage payment when purchasing a home. You should also consider local taxes, monthly utility costs, and association fees. Once you submit an offer on a property, have your agent get in contact with the sellers. He or she can ask them to provide a breakdown of their average monthly and yearly payments.
- Seller’s Incentives
Sellers’ motivation levels can vary greatly, and it’s important to be aware of this when you are looking to buy a house. Some sellers could be apathetic to whether their house sells or not and are happy to continue living in their home, while others may be highly motivated due to an estate sale, job relocation, or the need to pay off a mortgage. This can affect how negotiable the price is.
There are a lot of factors to consider when purchasing a home. It’s important to take your time and weigh all your options before making such a big decision.
JamesJenn Real Estate is ready and willing to help you get started on this journey. Call us today at (647) 500-0441 to book an appointment.