No. 7 of 10 Things to Consider Before you Buy Your First Home

Your First Home’s Must Have’s: Determine your precise requirements in a home and consider what you need versus want!  This is your wish list but there are going to be things that you absolutely need in your new home such as location, number of bedrooms, parking etc., and those that are just wants such as swimming pool, developed basement, fireplace, jetted tub etc.  Build your wish list with considerations firstly to location - neighborhood, areas, proximity to amenities and work.  Then consider your living space requirements (how many bedrooms) and what belongings you are bringing with you (furniture, bikes, cars etc.,).  Look at features you want such as; the size of the kitchen; number of bathrooms and bedrooms; available parking; will you need appliances to be included; enough storage / closets; windows and doors for the views and lighting; upgraded electrical, sewers, access to city water etc.  Next is to consider the resale value and return on your investment; what are the neighborhood price trends over the last 15 years and expected to be over the next 15+ years; what is the supply and demand; how much of the same type of housing is in your area because too much will cause extra supply and too little may have your property appear as too “unique”.  Prepare this list before you start looking and work with your realtor to stick to it and find the right first home for you.