4 Things To Consider BEFORE House Hunting
August 01, 2017
House hunting can be an exciting time. It can also be overwhelming, especially if you’re a first time buyer.
There are so many options to take into consideration before you purchase a home. Some things you need to think about:
- square footage
- home inspections
- down payment
- and your mortgage to name a few.
So, as we mentioned – It’s exciting and overwhelming at the same time.
No matter if this is your first purchase or not, if you have a plan in place before you begin house hunting the process is going to be much smoother.
1. Set Your House Budget. Stick To Your Budget.
It happens – people find and fall in love with their dream house and it’s just slightly, just a tiny bit out of their price range. Don’t let this be you!
Thoughtfully, and rationally, calculate what you can afford and stick to that budget. The standard number is that housing payments should not exceed 28% of your income (pre-taxes).
Before attempting to go any higher than your budget make sure you’ve included job loss (3 months), childcare costs, maternity leave payments (if you plan on taking mat leave), car payments and loans into your calculations. If you can still cover the mortgage with ease and cover your housing costs, by all means go for the big dream house. However, if you find yourself unsure of how you would be left (financially) stick to your original budget. You made it for a reason.
2. Needs Versus Wants: Keep Them Separate.
If you find yourself viewing property after property and you’ve forgotten what it is you were looking for in the first place, go back to your list.
Actually, let’s step back. Before you even begin to look at any houses, make a list of your needs and wants. This way, if you are unsure after viewing several homes, you can simply refer back to your list and remember what it is you’re looking for. Cross off the homes that do not cover the needs. Those homes won’t work and so they are not a viable option.
Finding a house is different for everyone. For some, they say “when you walk into the right home, you’ll just know”. For others, it comes back to their list and what they want to achieve in life. Some people buy a home knowing it will be a 5 year fixer upper before they move. Others walk into a home and stay there for 20 years.
Don’t believe people when they tell it will be be love at first site. Buying a home is a personal experience and no matter what or how you decide on your home, ensure it meets your needs and that you will be happy there for a few years.
3. It Really Is All About Location, Location, Location!
Obviously, we think The Meadows is the perfect location – close to the highway, parks, amenities, two schools and Costco…. And more!
If you aren’t sure about your specific location just yet, spend some time in the areas you’re interested in at different times of the day to get a feel for the area. Good times to visit are rush hour times (morning and evening), early morning and nighttime.
After you’ve walked around the neighbourhoods at different hours of the day, ask yourself:
- Will my kids and family be safe here?
- Is there an abundance of traffic at rush hour?
- Is it on a busy road?
- Do the neighbours look out for one another?
- Are there loud trains or highway noise?
Having a set location will help narrow down the list of properties.
4. Set Your Standards. Stick To Them!
In the perfect world you could have everything on your needs and wants list. However, if you don’t live in a “perfect” world you may have to compromise.
That’s why you need to make a list and stick as closely to it as possible. Don’t let a cute yard distract you from the fact that you need three bedrooms and a renovated kitchen.
If you don’t have a current “need” list think about where you want to be in 5 years? Do you want to have a family? If so, will you want all bedrooms on one floor? Do you live in Saskatchewan? Then we encourage you to put garage on your list of needs to make the winter more bearable.
No matter what your list looks like, try to keep as close to it as possible. That’s typically how you find a great home!
If we can help you find the perfect home for you, please do not hesitate to contact us!
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Located at the End of Taylor Street East and Rosewood Gate North
Showhome Addresses: Harvest Townhomes – 703 Meadows Boulevard | Sterling Gate – #25 – 115 Meadows Boulevard | The Morris – 696 Meadows Boulevard | Single Family Home – 610 Meadows Boulevard
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Weekends 1 – 5 pm
Or By Appointment