| |
The first step to choosing a home is to find homes for sale-that's usually the easy part. The next phase-evaluating the homes you visit-isn't always so easy. Here are some tips that can help with both tasks:
How to Search for Homes
Today you have more house-hunting resources than ever before at your command:
- The Internet. Without ever leaving your desk, you can search for homes anywhere in Canada. Internet listings are usually very detailed, with all the information you need (including photos) to decide which homes you want to visit. At www.mls.ca you'll find most of the available properties in every province. Local real estate agents have their own sites, too. Using postal codes from these listings, you can discover community demographic and amenity information across Canada through RBC’s Community Corner.
- Real estate agents. A professional agent can search for houses on your behalf (especially if you're very busy), and take you to any homes you wish to visit. Agents are your "inside connection" because they're the first to know about new listings (a real advantage in a hot housing market).
- Word of mouth. Ask family and friends to let you know if they hear of any homes coming on the market. You could be first in the door of your new home before it's officially listed!
- New developments. If new construction appeals to you, check out subdivisions that are currently under development. Builders often post signs describing the main features of the homes they're building. Ask if there's a model home you can visit.
- Open houses. At open houses you can view homes that interest you at a leisurely pace and with no pressure. Check local newspapers and agent Web sites for dates and times of upcoming open houses.
- Newspapers and periodicals. While not always complete or current, newspapers and free real estate magazines (usually found at restaurants, supermarkets and other stores) can give you a good overview of available properties and typical prices.
How to Evaluate the Homes You Visit
When you visit a home, either at an open house or on an individual showing with your real estate agent, take your time. Carefully consider these factors before you decide if it's a home you can live in:
- Price. For most of us, price is the number one criterion. To know how much home you can (and can't) afford, get a pre-approved mortgage before you start viewing homes.
- Taxes. Even if you can afford the mortgage on a home, the property taxes may put it out of your reach. Sometimes newer neighbourhoods have lower taxes until facilities and services like fire stations, schools, sidewalks and parks are built. Be sure to get an idea what future taxes may be for the homes you are considering.
- Architecture. Evaluate whether you like the home's style. Consider how easy it will be to maintain and clean.
- Layout and size. Think about whether the interior will meet your current and future needs. Are there enough bedrooms and bathrooms? Is there space for a home office and/or a playroom if you need one? Is the garage the right size? Do you need an attached garage? Is there enough storage? (Older houses may be charming, but they typically lack closet and storage space.) Does the house meet any special access needs you or someone in your family may have?
- Lot size. Again, think about your current and future needs. Do you have a growing family that needs room to romp? Or are you and your spouse empty-nesters who prefer tending little gardens to mowing a big lawn? A bigger lot usually comes with a higher tax bill.
- Landscaping. Do you like the current landscaping? If not, how much will it cost you in money and time to re-landscape the property to your liking? What will maintenance costs be (again, in both time and money)?
- Maintenance and remodelling costs. What are the heating and utility costs? Do the systems need work? Will the roof need to be replaced in the next few years? Will you want to remodel the kitchen and/or bathrooms soon? Consider these expenses as part of the purchase price when you discuss financing with your mortgage specialist.
- Extras. Know exactly what is and isn't included in the home price. Appliances, window coverings, central vacuum or air conditioning…when in doubt, ask and get it in writing.
- General condition. Does the exterior need repainting? Are the windows secure and weatherproof? Is exterior lighting adequate? Are walls or floors cracked? Will any flooring need replacing soon? Is there a security system? Is water pressure sufficient? Do all hot and cold faucets work properly?
For even more help with evaluating a home, print out the Home Buying Checklist and a map of the neighbourhood with amenity information - it's a great way to organize your search and compare the homes you visit.
|
|
