Blog by Hassenn "The Good Guy"

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Powerful questions to ask when choosing your home!

houseFood for thought when choosing your home,

Sometimes, buyers take a chance with buying a home by stepping into a new development showroom or an open house, and they fall in love without considering many factors that may affect their decision in the short/long term.  Most of these buyers regret buying the home later and end up putting it back on the market within a couple of years after buying it.  There are so many factors that affect your enjoyment of living in a home, such as a house with a nice backyard, commute time to work, schools nearby, etc.

Finally there is a better way to choosing a home! This report is written to help buyers look at different angles of home selection.

Powerful questions to ask before purchasing your home:

   1) Are you growing in household numbers (new babies, family member moving in )

   2) Are you reducing the number of your household members

   3) What are the 3 most important things that you like about next home

   4) What are the 3 things that you don’t want in your next home

   5) Why you should choose an apartment/townhouse:

- People don’t want to do any maintenance (such as cutting grass etc). In APT, the strata takes care of business related to the buildings maintenance
- People feel safer living in a secure apartment. Lots of investors work in other countries, but their families live in Canada. 

   6) Why you should choose a house
     
        - People like privacy.  Being independent (non strata) and owning a piece of land

   7) Why you should choose a Half duplex

        - Similar to a house, but you are sharing one wall with another unit. People usually choose this one because the price is lower than a house. It doesn’t have a strata but you are sharing 2 things with the neighbor.  First is the roof – you will probably want to change the roof at the same time.  Second – you need to get property insurance from the same company.

Job Location/commuting:  If you work in downtown, but you have a budget for a home in Coquitlam, you might want to consider living closer to the Skytrain or a part of the city with a shorter distance or less traffic lights.  Don’t forget that the commute time increases quite a bit during rush hour. 

School Locations: Making sure the school you want your children to attend is in the catchment area of the home you choose.  Also consider factors such as walking distance, or on a school bus route. 

Amenity Locations: Decide which amenities are important to you and your family. Do you want to be within walking distance of restaurants, shopping, and entertainment?

Housing Affordability: First step is speaking with a bank or mortgage broker to find out how much of a mortgage you are able to afford.  2nd, based on your mortgage qualifications and the formula below, pin point the areas that interest you and are affordable. 

Your budget = Location + Size + Age + Condition                                                                              

You can’t have a 5000sqft brand new house in Port Moody (Heritage Mountain) with view for $1 Million.   Therefore, if your budget is set, you need to play with the other side of the equation. Either you have to look in a different neighbourhood, smaller home, older home, or a combination of these items.

Investment: It is hard to buy a home for both investment and pleasure purpose in the short term. For example, if you are looking for an investment property, in order to maximize your investment consider finding properties that have the potential to be subdivided or zoning changed in the future.  Sometimes these properties are not located in a desirable area where your family would enjoy living. However, in the long term, stats show that the value of all properties go up, especially detached homes/land to a greater degree that apartments/townhomes. 

This following table will help you be more focused on what you need and want.  It is very difficult to acquire 100% of your wish list, so I have developed this formula to better help organize your thoughts.

Please rate the following criteria in order of importance to you:

1-least important             5-Most important

Criteria

1

2

3

4

5

House Size

 

 

 

 

 

Distance to work

 

 

 

 

 

Lot size

 

 

 

 

 

Mortgage helper

 

 

 

 

 

Discounted Price

 

 

 

 

 

Amenities/downtown

 

 

 

 

 

Age

 

 

 

 

 

Condition

 

 

 

 

 

Schools

 

 

 

 

 

Transit

 

 

 

 

 

I would be happy to help in the search for your perfect home.  Please feel free to contact me with any questions.  I will thoroughly go through all of the factors that are important to you, and can send you home listings that fit your search criteria perfectly.

Choosing the prefect home is a big decision with many factors to consider – Let me help you!  

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