Written by Jess Brennan   |   Posted on   |   391 views

Does The House Meet Your Basic Needs?

Before anything else, this home needs to work for your family logistically. Ask yourself, are there enough bedrooms and bathrooms to suit your lifestyle? Is there enough space to add these rooms if needed?

You should also consider the overall square footage. Determine if  you would be happy with the amount of space this home provides. You don’t want to be in a position where you find yourself regretting that you have too little (or too much) space later on.

Be honest with what your wants and needs are, without being distracted by pretty finishes and paint colours. The house needs to fit you, your family and all your belongings.  If it does, then this could potentially be the one for you.

Can You Afford the House?

The other obvious question to ask yourself up front is will you be able to afford this home, its maintenance costs and monthly taxes?  You need to determine if the home fits comfortably within your budget, or whether you will find yourself living paycheque to paycheque just to make your monthly payments.

Banks like to make sure your mortgage won’t be more than 35% of your monthly income. Anything more than 35% of your monthly income will make you considered a risky borrower and that may affect your interest rate.

So your best bet is to get pre-approved for a mortgage before shopping for a house so you’ll know what you can reasonably afford.

PRO TIP: If you’re having problems with your credit score read our article on How to Improve Your Credit Score Before Buying a House.

How Do You Feel About the Location?

We are always saying: “location, location, location“. Living in the right location that suits your needs is essential to making this home the one. While the home may have all the bedrooms, bathrooms and space you want, and even if it’s within your budget, you can’t change the location it’s in.

Finding the right location is pertinent to being happy with the home you’ve purchased. The neighbourhood your home is in can fully affect your quality of life and affect you for years to come.

Our professional advice when it comes to choosing the right location is to drive around the neighbourhood and get to know it. You should find out some of the following:

  • How are the schools in this area and how many are there?
  • Is the home close enough to shopping centres, restaurants and other things you enjoy doing?
  • Are there parks, gyms or other recreational areas nearby?
  • How will this location affect your commute to school or work?
  • Does the neighbourhood seem attractive to you and a place where you’d want to live?

If you are pleased with the answers to these questions, the location is probably a good candidate for your next home.

Can You Imagine Living There Now?

As you walk through the house, are you imagining where all your furniture will go? Are you re-decorating in your mind and choosing paint colours? If you’re already dreaming of cooking in the kitchen or relaxing on the back patio, chances are this house is the one.

Can You Imagine Living There in the Future?

Ask yourself: will this house still meet your needs 5 or 10 years down the road? Whether you’re planning on getting married and having children, or if you’re planning on retiring and becoming empty-nesters, you need to determine if the home will continue to work for you. While your needs may change over the coming years, it’s always great if your home can adapt with you.

Get the Home Buying Process Started Today!

Follow these links to learn more about home buying with The Kate Broddick Team of REALTORS®:

*All information provided by the Brantford Regional Real Estate Association (BRREA) for the highest sales volume and highest number of completed transactions since January 1, 2015. All Brantford MLS® House Listings come from the various systems operated by Real Estate Boards and Associations across Canada. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used underlicense. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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