Now that you have become familiar with how lenders in Toronto qualify home buyers and you have a clear idea of your finances, it’s time to think about the type of home that suits your needs.
In an ideal world it would be great to buy a home that meets your needs for not only today but also well into the future. Important things to consider when choosing the right home are; size, special features, location, transportation, a new home or re-sale, detached, semi detached or a condo might be the right fit. Having a general idea will not only help you in your search but also make the process much less stressful and more exciting. The list of questions that continue with others such as; how many bedrooms, parking, is a garage a must, finished or unfinished basement, number of baths and so on. Below is a full list of questions that will help you in finding your next home.
1.Size- How many bedrooms and Baths do you need?
2.Special features- Is air conditioning a must? If so what type? Swimming pool a must, fireplace etc..
3. Lifestyle and Stages- do you plan on having children in the future, or do you intend on having relatives come live with you later on?
4. Location- is the city or is the country better living for your needs? And schools for your children?
5. Specific neighbourhood- transportation, recreational facilities, restaurants and health services?
6. Type of home- fully detached, semi or is a condo the right fit?
7. A new home or a Re-sale- build a home to suit or buy a home that has been re furbished
When I purchased my first home it was in the pre-internet era, so it was a little more challenging to research all the different components and variables of home ownership. I was left with only one solution, hire a Realtor and let him/her have all the stress. Hiring is still a key component in buying or selling homes in Toronto. The internet has just simplified the research for the consumer in my opinion in a very positive manner. My suggestion would be to first start with the location and then any particular neighbourhood that is the most desirable. Google Maps is a great tool for consumers to ‘get to know” the perfect place for their next home. Once you have settled on a specific neighbourhood, your next step is to figure out the type of home; a fully detached, semi, townhouse etc... From their you’ll notice your search becomes even more exciting.
Now for the fun part of the process, actually visiting potential homes and viewing them first hand with your chosen Realtor. Both you and your Realtor, if all the questions are answered will have a great template to work with when viewing potential suitors. Here are some things to watch for when viewing homes for sale in Toronto, check the age of furnace and the roof, are the windows up to date? Is their evidence of water leaks in the ceiling and on the foundation walls? Is the home structurally sound? Does the home have enough voltage to power it for your future needs? Has the electrical been updated? All these questions should be answered prior to the consumer proceeding with an offer to purchase, your Real Estate Agents and other professionals will help you obtain those answers.
The Toronto real Estate market is very vast and is booming at the present moment, but I suggest to all my clients to never let these factors rush you when buying or selling a home, take your time and feel confident with your decision making, as it will help you to relax and make the right decisions.