Dreaming of a large lakefront home? Is it really the right property for you? Sometimes you have to know the difference between your dream home and the one that really suits you. Before you start your search, take some time to think.
Your needs
Every family has its own needs and priorities. How many bedrooms and bathrooms do you need? Is a dining room really necessary? And will the garage become another storage space?
Your tastes
Consider your tastes. If you’re not a do-it-yourselfer, avoid homes that need major renovations. Fall in love with a large lot? Don’t forget that you will have to maintain it. If you prefer urban living to be closer to services, entertainment venues and trendy restaurants, expect to live in a noisier and less green environment. In short, get your priorities straight!
What is your budget?
Don’t make the mistake of buying a home that is priced beyond your means. To find the right property for you, adjust your needs to your budget. Once you become a homeowner, your investment will grow in value and allow you to move on to a property closer to your ideal later on. At the outset, remember to set aside money for purchase costs and contingencies. That’s not counting maintenance, insurance and repairs, which typically cost 2% to 3% of the price of the home annually.
Your environment
Your surroundings are also an important factor. Is there a daycare or school nearby? Will your children be able to use public transportation or will you have to drive them? Also think about how far away you are from work.
Victoria Hamel
Residential real estate broker
