Things to consider when buying a home

What are the top things to consider when buying a home? As a seasoned Realtor, I have broken down the top 5 factors you should seriously consider when looking to purchase.

Key Factor #1

Purchase Price

This one seems pretty obvious but it’s also one of the most important (often overlooked) factors.  Firstly, determining what you can afford is a process.  You should not focus solely on the price-other factors come into play.  Secondly, understanding mortgage rates, closing costs, property taxes, insurance and maintenance costs associated with the property may affect your purchasing power.  Thirdly, and most important, speak to a professional to help you break down what you can really afford.  Get pre-qualified.  We work with a highly qualified network of specialists and can assist with this if needed.

Key Factor #2

Wish List 

We all have that list in our minds of the things we would absolutely love to see in our next home.  Start out by making a list of the things you “need” to have in your home.  Here you will add number of bedrooms/bathrooms, location, and lot size.  Rank these items as your top priority.  Next, add the things you would like to have in the home-ie.  pot filler, walk in closet, large island.  By breaking down your needs/wants it will help you focus on the things that really matter.  Consequently, you will be more likely to actually end up in a property that ticks those important boxes.  Unless you have an endless budget it is important to keep in mind the factors that ultimately matter to you.  Make a list and prioritize things in terms of importance.

Key Factor#3

The Overall Space

Will the home suit your needs?  Here things like number of bedrooms, bathrooms and the general state of the home  will come into play.  Size and layout are also integral.  I have seen some 3000 square foot homes that feel smaller than 2500 square foot homes. Touring homes and getting a feel for the space is crucial-don’t rely solely on the listings for information.  Make sure you get into the homes and have a chance to really visualize if the layout is right for you.

Outside space is also important to consider.  Is it in a good location? Check out school districts, proximity to parks, recreation centres etc.  If you are considering moving to the Hamilton area you can check which school your child would attend here: https://www.hwdsb.on.ca/find/.   Depending on your stage of life the amenities you want will obviously differ.  Remember, you can always update the home but you cannot change the lot size or neighborhood.

Key Factor #5

Condition

Look for any signs of damage in the home.  What does the general maintenance of the home appear to be? If there have been upgrades which ones?  Look out for the age of the windows, roof, furnace, A/C and condition of the foundation.  Another thing to watch out for is the general grade of the property.  Keep an eye out for flat properties, those sitting low in comparison to neighboring properties and those located beneath a hill or slope.  How and where is the water running off,  and how efficiently is rainwater managed?

These are my top 5 things to consider when looking for a home.  It’s certainly not an exhaustive list but it will definitely help you hone in on what you should be looking out for.  Make sure to check back for more blog posts on my page. https://djurdjaprostran.c21.ca

-Djurdja Prostran-