Questions for Your Home-Buying Wishlist
Posted by Dave Kotler on Thursday, August 12th, 2021 at 9:13am.
It takes patience to buy the perfect home, and many factors should be considered before making any final decisions. Once a location or an approximate one has been determined along with a budget, the real work starts for homebuyers.
It's important to think long-term to make certain the home purchased suits the family's current situation and will meet potential future needs. Here are some factors to consider to ensure a solid choice is made.
Ask yourself these 10 questions to help narrow your search:
- Do you want a single-family detached house, a duplex, a townhouse, a row house or a condo?
- Do you enjoy yard work?
- Do you travel a lot?
- Do you often entertain or have house guests?
- Do you need a lot of natural light?
- Are you handy with repairs?
- Could you live through a renovation)
- Are you comfortable with the notion of a condo board making decisions that will affect you?
- Do you want easy access to public transit?
- How close do you want to live to your neighbours?
Narrow Down Home Style and Size
Single-family detached homes are optimal for many buyers, especially those who don't want to contend with having neighbours literally living a wall away. However, there might be yard work, major repairs, and easements obtained for certain detached homes. Condos, townhouses and duplexes are typically more affordable, and those who travel frequently or have small families might prefer this style of home.
From there, consider how big it should be and how many bedrooms and bathrooms are desired. Anyone considering adding children or an ageing loved one to their family might consider an extra room beyond current needs. Extra storage might come in handy, too.
Homeowners Associations: Are They for You?
Also known as HOAs and sometimes POA (property owners associations), these comprise a group of owners in a community or a privately hired company. These parties have a great deal of say over how condos, townhomes, and often single-family home neighbourhoods are run.
This can include maintenance, fees charged, negotiating rules and implementing them with other owners. Some buyers want complete control over their property. If this describes you, consider passing on homes under the control of a homeowners association.
Buying a Pre-Lived in Home? Consider Renovation Needs
Buying a home that needs repairs or renovations may result in a good deal and provide negotiation opportunities with sellers. However, it's important to consider how intense the work will be, how much it might cost, and how long it will take.
Major renovations can disrupt the family's life, require moving from room to room, and the work can be noisy—especially if buyers plan to reside there during repairs. Have a plan in place and consider delaying moving in until the home is ready.
Are Commute Times and Public Transit Important?
Buyers who work a distance away or attend college might find time to be short, making access to major commuting roads an important part of choosing a home. Fuel costs, insurance and wear and tear add up on personal vehicles. Public transportation may not be widely accessible in certain communities, so that's another aspect to research if any household member relies on it.
Are Regular Guests or Parties Common?
If so, consider finding a home with a large formal dining room or living room, and definitely include a half bath if the home is multi-storied. An oversized kitchen with smart appliances and an island for prepping and serving might be worth investing in during the initial purchase or an option for remodelling.
While there is so much more to consider when buying a home, these tips are enough to get one started on the path to narrowing down options on their mission to finding their dream home.
Dave Kotler