Don’t forget closing costs when buying a home Legal fees: In Ontario you are going to need to hire a lawyer to complete the sale of your home. Talk to your lawyer, or potential lawyers for their fees. Also make sure you are clear on what their fee will be, and also what other charges…Details
There are many important factors when it comes time to buy a home. One of the most important, and you’ve heard it many times before, is location, location, location. In a lot of cases, where a home is located is more important than the home itself.
One person’s ideal location can be completely different than another persons, and it is very important to hire a REALTOR® that can understand exactly the area you are looking for.
Check the lifestyle
For some home buyers, the process is very simple. They know exactly the neighbourhood they would like to be in. Sometimes it may even be the same neighbourhood they currently are in, they are just looking for a different size home, higher end finishes, or to be on a more quiet street.
Other buyers aren’t sure where they want to be, and price sometimes will dictate where they can buy due to affordability. Some will have generic things they would like to be near, and it will take some research or knowledge to determine the right spots.
Some important things to consider while determining the neighbourhood for yourself are what your want your neighbourhood to cater to: young families, retirees, singles, students, investors, renters.
How long do you want to be in that neighbourhood? If it is a short amount of time, you will want to make sure it is an area that sees a significant number of homes sell each year.
What do you need to be close to? Schools, restaurants, transit, nightlife, highway access, hospitals, shopping.
Check the plans
What plans are there for your neighbourhood? Is it an older area with the possibility of homes being torn down to build new ones, on large lots that aren’t often available in new subdivisions? Is it a new build area, with plenty of large new homes being built, with an area to be developed that you aren’t sure what it will be? Make sure you find out. That open area could be a highrise in your near future looming over your new private backyard. The building won’t bother some people, it could change the enjoyment of your home in a significant way, and the resale of your home could take longer than expected. Is your community rural, limiting the amount of people interested in it down the road?
Do the research
A few places you can do some investigating for yourself are:
Walk Score: Find out how walking friendly your new address is to shopping, schools, restaurants and other points of interest.
Crime Map: The City of London Police department has an interactive crime reporting map to allow you to search neighbourhoods for reported crimes for specific dates. You can also see what types of crimes were committed.
No matter what your ideal location is, it won’t be perfect for everyone. As long as you understand what will work for you, and how it will help or hinder you when the time comes to sell your home, that is what is important. To contact a REALTOR® to help narrow down your search, you can call The Price Real Estate Team at 519.663.9411.