What to consider when shopping for a new house

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REAL ESTATE What to consider when shopping for a new house

Published on September 17th, 2014 | by Joan Makai

Whether you’re starting to build a family or you’re planning to move into a bigger space to accommodate your growing needs, buying a new house is a big decision to make. Aside from the fact that you’re shedding a huge amount of your hard earned money for that property, you and your family are going to live there for the rest of your lives therefore it’s only natural that you take as much time as you can and consider every aspects of your lifestyle before jumping the nearest home sale in the marketplace. Before the actual house buying process, ask yourself the following questions:

  1. What is the appropriate type of house for your family?

Different families have different needs so ask yourself this question before sorting down your real estate listing. Are you looking for a single family home? If you see yourself weeding the garden during weekends or cleaning the yard regularly and doing exterior repair, then a single family home is suitable for you. Depending on the size that you’re going to buy, this type of house provides extra space that can be converted into a children’s playground, pool area or just vacant space for hosting parties.

If you have no time for repair duties and has no patience to keep a tidy garden then you should consider investing in a condo or townhouse unit. Although generally smaller than most single family homes, a condo or townhouse is suitable for families that are always on the go and has no time for yard maintenance or exterior repair.

  1. Where do you want to settle down?

When deciding to buy a house, the location of the property is very important. As you’ll be spending your entire life there, it’s important that you consider if you’re going to invest in the city or in the suburbs. Houses in the suburbs are generally cheaper than those in the city and are usually larger. If you invest in the suburbs you have the opportunity to acquire affordable properties located in a quiet neighborhood. A disadvantage however is the distance of the house to your workplace.

Houses in the city, on the other hand, are more expensive than the suburbs so expect lesser space for your money if you’re going to buy in this place. Living in the city however, brings you closer to shopping malls, cinemas, bars and restaurants as well as to government offices, schools and other important establishments. Also, houses in the city could be nearer to your workplace which could mean less time commuting to and from work.

  1. How much is your budget for the new home?

Even if you’re dreaming of purchasing the biggest home for your family you should consider your financial stability. If you think your budget will be stretched too tight if you purchase the 3-storey Victorian home for sale, you should reevaluate your choices and just choose the smaller property. Be honest with your family and explain what your budget could afford.  It wouldn’t be good to spend too much for your dream home and worry about your finances in the end.

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Joan Makai

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