There are many ways to go about looking for your new home, but remember, location is one of the most important components of real estate value. Families who regret a purchase decision often tell us they picked the "wrong" community or neighbourhood.
At this point, forget the "house". Concentrate first on the neighbourhood. The following checklist will help:
- Review your requirements with your "house" realtor.
- Let them familiarize you with areas and neighbourhoods.
- While searching, ask questions about the general real estate value of certain areas.
- Identify areas that interest you and are affordable, and discuss them with your family and realtor.
- Review your requirements for schools, churches, and shopping facilities.
Location is one of the most important components of real estate value. Concentrate on the neighbourhood before you look at the house.
When you are ready to look at specific homes for sale in the neighbourhoods that interest you, remember the following:
- It is recommended that you view several homes before you even consider making an offer.
- Communicate honestly what your impressions are of the homes as you see them.
- When you find a property you like, do a property comparison to determine the value of similar homes that have sold in that area.
I need to know your honest impressions of the homes you see, so that I can help find the home that's right for you. The search for your new home is my priority! Please feel free to ask for any assistance you require.
You've found the house you want to buy. Step back for a while and think about it. Be objective. Consider these key factors. They will eventually determine whether this would be a good purchase.
Key Questions to Ask
- Are you familiar with the neighbourhood? This means driving most of the streets, looking at traffic patterns, schools, shopping facilities, and more.
- Do you know exactly how you will get to work from this location? How long will it take at rush hour, door to door?
- Have you personally researched any potential problems? For example, the house is on a "flight path", but you have been told that airplane noise is minimal. Have you stood on the lot and listened?
- Have you inspected enough houses in the neighbourhood? Have you drawn meaningful conclusions about their value and alternative options?
- Have you inspected (from the outside) houses that have recently sold and are similar to the one you want to buy?
- Have you personally looked through several homes currently listed for sale in the area?
- Have you been provided with sound, objective information on the history of the house and where it fits within the neighbourhood value range?