5 Questions to Ask When Buying Your First Home
Buying your first home can be a little scary, but we’re here to make sure you have a positive experience.
If this is your first rodeo in the real estate market, ask yourself these five essential questions:
1. How can I ensure I’m happy with my first home purchase?
Expect satisfaction instead of perfection. The easiest way to get through the buying process without becoming overwhelmed or frustrated is knowing that, while it is possible to buy a home that fits most of your needs, it is difficult if you insist on finding a home that meets all of your needs. Being able to compromise is an important part of the buying process and will get you further ahead when finding your first home.
2. Should I consider resale when buying a home?
More often than not, first-time home buyers are just looking to get their foot in the door before prices and regulations put them out. Whatever the reason, considering resale is a smart buying tactic, especially if you are only looking for a place to hang your hat for a few years. Search for a home that appeals to all kinds of buyers. Sometimes the items on your “must-have” list are ones that will help you sell down the road. Such thingsincludethree or more bedrooms, a garage, ample storage, large lot size and an appealing neighbourhood or amenities.
3. What is the best ways to search for my first home?
Hands down, the absolute best way to find your first home is with a trusted Realtor®. They have the best access to homes for sale, and if you’ve done your homework in chosing your Realtor®, you will also get first crack at to properties that will be coming up on the market soon. Although there are plenty of tools that you can use on your own such as Realtor.ca, the Royal LePage Real Estate Search App or Zoocasa, the most up-to-date home inventory will only be available through a Realtor®.
4. What should I look for in a neighbourhood?
Think of your lifestyle and the conveniences you want to have close to home. Do you go to the gym, require public transportation, or prefer suburbs or inner city? Much like searching for a home, there are also many tools to help refine your search to specific neighbourhoods and the facilities, amenities and services they offer. In conjunction with your home search apps use neighbourhood search tools like the Royal LePage Your Perfect Life or the Walk Score App.
5. Should I think of schools when buying my first home even if I don’t have kids?
No matter what stage of life you’re in, thinking of schools or daycares are important things to consider when purchasing a home, if for no other reason than for resale considerations. Beyond that, although you may have no immediate plans to start a family, it’s good to remember that plans sometimes change; it’s good to know that you’re already living in a home that can accommodate your changing needs. If you do have kids, find out what schools your children would go to and do a little research on its ranking. Daycares also have limited spots available depending on age so look into availability around the neighbourhood as well. Here are a few resources for schools and childcare.
- Find Your School at Schools in Canada
- Rank Your School at Fraser Institute
- Find Childcare in Canada
Looking for help with your first home purchase? Let’s talk.
Mark Faris, CEO & Broker
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