As thrilling as it is to buy a new home, it can feel like juggling a thousand breakable plates all at once. You want everything to be just right so that you find the ideal house in a neighbourhood you love. Though you may feel like you have a million questions, focusing on a few major concepts will help streamline the whole process. With that in mind, here are 10 things to consider before purchasing.
1. The Location
Nearly everything about your house can be fixed or rebuilt entirely, depending on time and your budget. If the house is dark and gloomy, you can add skylights or a patio door. You can even build or tear down walls to change from a closed floor plan to an open concept layout and back again.
In real estate, there are only a few things that can never be changed, such as the view, the lot size, and the neighbours. All of these are contingent upon getting the right location, which is critical if you want to find a place where you can stay for the long term. The answer to the following questions will help you make the right choice.
- What are the other homes in the neighbourhood like? Are they well maintained?
- Is there enough space in between the houses? Older homes tend to come with more expansive lot sizes, while newer builds are typically closer together.
- Is there a school or a church near the home? If the answer is yes, the street may be busy at certain times or on different days.
- Are the amenities you want nearby? Take a walk or check Google Maps to see what parks, shops, and restaurants are around.
Buying a home in today’s market can require some creative thinking. You’ll find plenty of insight to work within the posts below:
- Can You Buy or Sell a Home Using an App?
- From Buyers to Sellers: The Intricate Dance of Inflation, Interest Rates, and Real Estate
- How to Ignore Bad Real Estate Advice Without Losing Friends
2. Parking
How much parking is available might be the last thing on your mind as you tour one beautiful home after another. But before you fall in love and place an offer, be sure you know what you are getting into.
- How much parking will you need versus what is available?
- Is street parking available? If so, is it restricted at certain times of the year?
That new dream home might not be quite so ideal if you need to park three blocks away because the driveway is too small and no garage is available. Too little available parking could be a deal breaker if there are multiple licensed drivers in your household.
3. The Neighbours
Who are your neighbours? Great neighbours make a street wonderful, bad neighbours can drive you crazy – until one of you moves away. While you can’t always tell who will be a dream and who will be a nightmare, you can watch for some clues.
The first thing to look for is the condition of the houses nearby. Beautifully kept lawns and gardens aren’t a guarantee of good neighbours, but they are a positive indication. On the other hand, an unkempt front yard or garbage out front isn’t just unsightly, it could signal problems down the road. Alternatively, you could always make an impromptu visit to the neighbourhood one day before placing your offer.
4. The Neighbourhood
In the same vein, you might want to visit the street at different times of the day, especially on weekends. It may seem wonderful that your house backs onto a schoolyard. But if you’re the type of person who enjoys peace and quiet and it turns out that the house next door is the Friday night hangout for teenagers, that listing might not be so ideal.
5. The Inside of the Home
A long list of inclusions can be a good thing when buying a house, but is not always what it’s cracked up to be. If the fact that appliances are included is the tipping point for you, a little research can save you some heartache and unnecessary expenses later.
Start by finding out how old everything is and when they were last maintained. Saving money on a 15-year-old home could mean you’re in for some hefty maintenance costs after you move in. The furnace, the roof, and the appliances could all be on their last legs if they’re still original. However, if they are relatively new, then that’s another point in favour of placing an offer.
6. The Exterior
A trained eye can tell you a lot about a potential home just by examining the outside. A few things to look for are a shifting foundation, cracked window seals, or any issues that go beyond cosmetic.
If any of these signs exist, it could mean that there are structural issues. Having a reputable home inspector examine the property can alleviate these concerns.
7. Your Lifestyle
You may love those lush gardens that look so beautiful. However, you should be aware of how much work goes into maintaining them. If you have a long commute and a full-time career, you may not want to come home to another few hours of yard work.
The same principle applies to buying a home that needs extensive upgrades before or shortly after moving in. You may save money on the purchase, but it will be a moot point if you end up booking time off work to oversee the repairs.
8. Your Budget
It’s critically important to stay within your budget when buying a home. That said, moving is time-consuming, stressful, and expensive for most people. You don’t want to have to go through the process again in the next few years because something has changed and the house no longer meets your needs.
If possible, you may want to buy something slightly bigger than you need today. Think about your plans for the next five years, at least. This matters especially if you hope to get married or have children in the near future.
9. Check for Stigmas
You may not be worried if the house is reportedly haunted or that a crime took place on the property a few years back. However, many people find events like these very off-putting, which is why stigmas can affect your ability to sell the house later.
It’s never a bad idea to Google the address and see what comes up. You can even go to a website called housecreep.com to see if the house has any kind of notorious past, like being the site of a grow-op or murder.
Do you plan to sell your home before buying a new one? The posts below will help you succeed in any market:
- Best Practices for Selling a Home in Today’s Market
- Renovating Vs. Selling Your Home As-Is
- Refining Your Offer Strategy When Selling First House
10. The Legalities
Not every issue with a property is structural or cosmetic. A house can be in perfect condition, recently renovated and gorgeous from top to bottom. However, your purchase might not be as seamless as you’d hoped if there is some kind of lien or outstanding work order on the home.
You can try doing a search with your chosen city yourself. Alternatively, your real estate agent can recommend a lawyer to perform this critical background research on your behalf.
Now that you know what to watch out for, your chances of finding the right home that you will be thrilled with have just multiplied. With an experienced real estate team working on your behalf, you may be turning the key before you know it!
Are you ready to find your ideal home in Guelph or the Tri-Cities? Reach out to info@gowylde.ca or call 519-826-7109 to connect with a Guelph real estate expert today.
