EVALUATING HOMES

Oh my gosh, I have to tell you there are a lot of great pieces of advice in that little pamphlet I mentions from RBC "Home Financing Buying a home: A step-by-step guide to buying a home".  I was inspired to share some of their "Chapter Nine: Choosing the right Home".

A number of the items that they mention in this chapter your mortgage broker/bank will be able to help you determine.  Things such as price of the home, taxes, heating and utility costs, property purchase tax and the like are all things your banker and real estate agent should be able to help you with.  You should know what your pre-approved mortgage amount is before you even think  of going out on your own or with a real estate agent to view homes.  Knowing what you are able to afford (not what you wish you could afford) will save you the heartache of looking at places outside your budget and simply based on price you will be able to narrow down where you will search for your perfect home.

When you think of where you want to live, think of how you want to live.

• Do you like the location of the neighborhood in relationship to your work, activities, schools, transportation, etc.
• Do you like the feel of the neighborhood?
• Do you like the look of the home?  If not, why not?  Can it be changed/altered to make it more desirable? At what cost? Is there enough parking?
• Does the house have a layout you can live with?  Does it have enough storage?  Does it have stairs?  Where is the "living" space in the home?  If the living space, kitchen and bedrooms are on a second level and the laundry room is on the main level consider all the kids and groceries you will pack up the stairs and all the laundry you will pack down (and then back up!).
• Are there future considerations that need to be thought of presently.  Are you thinking you might want to raise a family here?  Are there enough bedrooms, is the yard big enough?  Will you have elderly family members move in with you at some time?  Are there current health issues that may involve being in a house that at some point will easily accommodate such things as walkers or wheel chairs.
• What might it cost you to maintain this home?  What are the utility/heating costs, are there repairs needed now (new roof for example), would you want to remodel.
• Lastly, when you look at a house consider the things that you will need that may not be included in the price.  Appliances, window coverings, central vacuum, air conditioning, shower doors, mirrors, landscaping/fencing.

Buying a home (whether it is your first, second, or last) is probably the biggest single purchase most of us will ever make.  therefore, doesn't it just make sense that you should sit down and put careful consideration into a Home Buyer Checklist - what you can and can't live without and what would just be nice to have.  What you can repair, what you can't repair and what you don't want to have to repair.  Awesome checklist in the above mentioned book.

My personal parting advice to you is this:  No matter what stage you are in as a home buyer, there will always be someone who will eventually be evaluating your home.  Buy, personalize, and renovate with that in mind.