What To Look For When Buying A New Home
Location, location, location – when buying a home, nothing else matters, right?
We are told over and over that location is the most important thing to consider when buying a home. Purchasing in a prime location will boost your property value when the time comes for you to sell, however not everyone can afford a penthouse suite in downtown Oakville or a sprawling property overlooking Lake Ontario. So what other factors should you consider when purchasing your new home?
The neighbourhood: Is the area new, emerging or pre-gentrification? Neighbourhoods on the cusp of becoming the next hot real estate market aren’t necessarily brand new developments. They may currently be districts with lower real estate values or older neighbourhoods in need of revitalization. The benefit to either moving in or investing in a neighbourhood on the rise is that if you get in at the beginning you can realize a great return on your investment. But remember, the revitalization may take a few years! Are you prepared to wait it out? Learn everything that you can about the neighbourhood that you are interested in. Is there a neighbourhood association or concerned citizens group? Inquire at City Hall about neighbourhood zoning as well as any potential construction or other restrictions relating to the area.
Noise and smells: Environmental factors such as noise from high-volume traffic, sirens, train whistles or ambulances might not bother you but may turn off potential buyers when it comes time to re-sell. The same goes for odours. Spend time, both day and night, in the area that interests you to see if there are any possible issues before making the decision to purchase, to ensure it will not be an issue for the next buyer.
Size and layout: You should consider how much space you actually need – inside and out! What type of layout suits your lifestyle? Do you have a growing family with pets? An open-concept floor plan and a spacious yard may be necessary for you. Are you “empty nesters” looking for a home with fewer stairs and a quaint patio and garden? Or is a condo with less maintenance more conducive to your busy lifestyle.
Location is important when purchasing a new home, but based on your needs and wants, what location is right for you – new & trendy, up & coming, on the cusp or the right space in a convenient location?
Most importantly, trust your Real Estate Professional who has the knowledge and experience to steer you in the right direction and right location!
The Fielding Team
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For all your real estate needs, call The Fielding Team at 905-338-9000 or visit our website at: http://www.thefieldingteam.com/
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