Your Dream Home - Your Checklist

So, you're ready to become a homeowner. Congratulations! Like any successful adventure, some careful charting and route planning will go a long way to ensure the path to your destination is free and clear.

YOUR BUYERS PACKAGE

SO- YOU WANT TO BUY A HOME ?

The Destination

Before you pack your bags, you should probably have an idea of where you're going. For this crucial first step, have a candid chat with your REALTOR® about the type of home that will best suit your needs and lifestyle.

If you're an urbanite who needs to be at the centre of it all, a condo downtown might be your perfect fit.

If you're someone who needs peace and tranquility, a bungalow on a large lot in the country might entice you.

If you want the benefits of city living but need room to grow, a townhouse in the suburbs could offer the flexibility you need.

Is right now a good time to buy?

Markets go up, markets go down and even the most informed experts can’t accurately predict when a market will peak or bottom out. If you’re buying a home as a long-term investment (and for long-term enjoyment), you should be protected from short-term changes in the market. Instead, focus on picking a home that meets your and your family’s needs.

If the answer is YES... Read on!

Questions To Ask When Assessing Home Features

Do you need several bedrooms, more than one bathroom, space for a home office, a two-car garage?
Do you want air conditioning, storage or hobby space, a fireplace, a swimming pool? Do you have family members with special needs?
Do you plan to have children? Downtown or suburbs? Proximity to recreation or work.
Do you need a substantial backyard? Pets?
Is there adequate storage space?
Will any remodeling be required to make the home move-in ready for you?
What service providers (cable, Internet, telephone, Satelite) are available in the area, and is the house completely wired for each? Can you hear me now – how good is the cell phone reception?
How much are the yearly property taxes?
How much do utilities run each month? Does the house use gas or electric for the furnace, water heater, and appliances?
How old are the major appliances, and which are included with the house?
Have there been any major repairs to the house, and if so, when were they completed? For example, how old is the roof? Has water ever damaged the basement or foundation?
Ever had problems with insects, such as termites and spiders, or rodents?
Older homes need to be carefully examined – Windows may need caulking or new sashes, bathroom tiles may need grouting, home may need rewiring (planning on a hot tub or sauna?), a new hot water heater, or a new furnace.

DOWNLOAD DREAM HOME CHECKLIST

Location, Location, Location

How far will you be commuting and what is the traffic like? Factor in cost of fuel.
Where will your children attend school and how will they commute?
Are there recreational facilities and parks close by?
Are you close to family and friends?
Is safety or high crime an issue?
Is the property close to an obstacle or negative influence? (i.e. an apartment building, shopping centre, school, radio tower, power lines, LRT or railroad track, highway, airport or commercial project).
Access to schools, work, recreation, shopping centres, public transportation, cultural attractions, libraries, churches and hospitals
Adjacent undeveloped land – what is proposed for this or other green space?
Heavy traffic can be noise nuisance and hazard for children
Distance from the unit to amenities, parking, walkways, roads, public transit
Does the neighborhood reflect positively on the value of the condo and your lifestyle choice?
Does this neighborhood, for any reason, have a poor reputation?
Is the future economic climate for the area good? Are businesses moving in? Is there government investment?
Are people moving in or out of the neighborhood? What is their age, income level, family size?
Are there plans for this neighborhood that you may be unaware of (i.e. a future highway, a commercial development or a new housing development) that will provide competition on resale?

Noise and Privacy

Proximity to highways, driveways, parking lots, playgrounds, trains.
Proximity to elevators, garbage disposal, fire exits, heating and air conditioners.
How well is the building soundproofed.
Visit at different times/weekends to check noise levels and activity.

What Can You Afford?
Buying a home is a big deal; it’s probably the largest purchase you’ll ever make. Being prepared means also understanding that expenses go beyond purchase price.

Use Our Housing Affordability calculator to determine how much you can afford and what time of home to set your sights on.