First Steps
So, you've decided you want to own
a home. It's a popular dream. For most people, with the right
planning, it can become reality. But there is a lot to know before
you begin moving. I'll take you through the planning process
step-by-step, to determine exactly the kind of home that's perfect
for you. Overall, Rob Avery will work with you to position your home
on the market so that your sales experience will take place as
expeditiously as possible.
What Does Your Future Lifestyle
Hold?
How many bedrooms will you one day
require? Your preschoolers will be teens some day. Are you planning
to stay in your home that long? Perhaps your teens are ready to move
out on their own. What will you do with all the extra space? When
you're thinking about accommodating your family's needs, think of
things like parking. How many cars will require space? You'll also
want to consider proximity to -- and the reputation of -- schools in
the area.
How is your work situation? These
days people tend to change jobs frequently, and sometimes the best
way to get a promotion is to move to another company. If you might
be transferred, will you be able to sell quickly? Keeping work in
mind, how long do you want to spend commuting? Do you drive or rely
on public transportation?
As you can see, you will want to
give some thought to how long you intend to stay in your home. It
may be difficult to answer before you've even found your home, but
if it's your first home give some thought to the resale value when
it is time to upgrade. On the other hand, if you're planning to stay
in your home for a long time, consider your future needs and
purchase a home that will accommodate them.
Do You Live a Maintenance-Averse
Lifestyle?
When you're looking at homes,
consider the advantages of brick over a wood frame house when it
comes to painting. Take a look at the garden. If you don't enjoy
cutting grass, then an expansive lawn may not fit into your
lifestyle. You can also evaluate the possibility of future
maintenance and repairs based on the age of the house. If you don't
like the idea of major renovations, a newer home may be your best
option.
Is Your Lifestyle More Geared to a
Fixer-Upper Fantasy?
Many first time buyers have them.
It goes something like this: You find a big home in a great
neighbourhood that's well below what you'd expect to pay for that
house in that neighbourhood. You see a couple of coats of paint, new
broadloom, a few repairs and voilą, a dream home without the
nightmare price.
Before you jump headlong into this
'once-in-a-lifetime opportunity' consider how you'll do all of the
work. Will it be weeknights after a long day at the office, or will
you hire someone? Are you ready to live in a dusty mess as you
renovate? Do a realistic assessment of the job at hand and be sure
to have the house inspected. The last thing you want is a bargain
home that turns into a money pit. You're far better to find a house
that costs a little more each month but doesn't need much work than
to buy a fixer-upper that eats up hundreds of dollars each month.
For example, lets say you could buy a really nice house with minimal
work required for $10,000 more than a fixer upper. At today's
mortgage rates, assuming you could stay within your monthly budget,
that really nice home would cost you only about $65 per month more
than the fixer-upper. If you buy the fixer-upper, you'll be spending
a lot more than $65 each month to whip it into shape, as well as the
strain your family will go through living in an unfinished home. |