The Price is Right-The Home is WRONG!

So you’ve embarked on your home buying journey and have hopefully hired the right agent that will “exclusively” represent your interests, understands your needs and what you can afford.

Whether you are a first time buyer or a move up buyer, there are many factors to consider when buying your new home. Unless you are buying an investment property, emotion is a variable that will likely come into play when finding your new home. After all, your home is ultimately your personal space, your sanctuary and a reflection of who you are, so its no surprise that we become emotional when it comes to buying a home.

Unfortunately this is one variable that can sometimes “blur your vision” of the bigger picture that revolves around your new home purchase. Location, demographics, amenities, schools and other local dynamics will surely play a role in your daily lifestyle when you live in the home and directly impact its future resale value.

This is when having the right Realtor by your side will make all the difference. Having access to exclusive resources like Land registry records, MLS records, and Assessment and Zoning information, can give you an objective view into the “true present value” of the home you are considering, plus give you a hint of its future value.  Many factors can be detrimental to the appreciation of a home, and knowing these upfront will empower you to make an informed decision before you buy.

Take Milton Ontario for example; when it was named “the fastest growing community inCanada” by the 2006 Census, it sparked tremendous growth in population, construction and commercial development. People have flocked here to live, work and play. The population has grown by 71.45% since 2001 according to Statistics Canada, and the town’s current population of 80,000 is expected to double by 2021! Now that is growth! So do you think that buying a home inMilton,Ontariowould make a sound investment? You bet. With growth of this magnitude you can count on demand staying strong and house values rising.  Factor in State-of the Art facilities like the “Milton Centre for the Arts” and the “Milton Sports Centre” plus the establishment of theWilfridLaurierUniversityat the foot of the escarpment and you’ve got a winning recipe for a thriving investment.

Choosing the right home for you begins with evaluating the local amenities of the neighbourhood it’s in and how these meet your current and future needs.

Have you ever gone to a store and bought something you didn’t actually need or would have chosen if it wasn’t on sale?  Well buying a home based on “price” alone is the same thing.

I often meet people that are the end of their rope with the extra long commute to work every day. In the end, they end up spending thousands more on gas and car repairs, not to mention countless stressful hours behind the wheel. The point here is, be true to yourself. If you can’t afford to buy the “right” house for you in the location that suits your needs, it is best to re-evaluate your buying options. I have had clients go into a condo rather than a freehold home in order to be where they need to be.

Location should be the number one factor you consider when buying. Heading home in the right direction starts with evaluating everything that affects the home you are buying from its surroundings to the lifestyle it has to offer. Make sure you do your homework before you fall in love with the wrong house.

What is the most important factor for you when buying a house? Would love your comments.