Turning Your Wish List Into Your Dream Home
Turning Your Dreams Into Reality
Deciding to purchase a new home is one of the biggest decisions you will make in your life, especially if it’s your first home. Challenges can include saving your down payment, affording mortgage payments or buying with someone else; your significant other or a family member or friend. Trying to get two minds on one page can be challenging when it comes to your wish lists. Finding your dream home can be daunting and overwhelming when you’re just starting out, so we’ve compiled some handy tips to help you get your ‘wish list’ narrowed down, and to get you out there looking for your dream home as soon as possible!
1. Define your ‘must have‘ list from your ‘would like to have‘ list – you won’t be happy in your dream home if you are constantly wishing you had an extra bathroom or a usable back yard. Whether you’re purchasing alone or you are purchasing with someone else, take some time to sit down and write down your ‘must haves’. Do you need an ensuite? Does there need to be a pantry in the kitchen for it to work? Do you need a minimum of half an acre for your pets or your dream shop? Writing these important factors down (and merging your lists if needed) will make it easier to only see the listings that you want to see. A great realtor will go through this with you and start sending you listings that meet your criteria to get you into your dream home today!
2. Location, Location, Location! – if you’re driving over an hour each way to and from your job every day, it can take the pleasure out of your new home very quickly. While the market in Chilliwack could see you buying a newer construction detached home on a big lot for under $400k, your downtown Vancouver commute can take the joy out of your down time and add stress to each day. Sometimes sacrifices are needed to keep everyone happy. Make sure you discuss these things with your spouse and family before packing everyone up!
3. Budget! – This seems like a no-brainer, but if you’re like me, you may find it fun to look through those million dollar listings and imagine what it must be like to live the lifestyle of the privileged and wealthy. It is important to set a budget right off the mark. Things to consider when you set a budget for your home go a lot deeper than just finding houses that you like at a certain price point. Consider things like how much down payment you will need to purchase in that price range. How much will your mortgage payments be every month and is it feasible? How much are your property taxes going to be every year? If you can barely put food on the table in your new home, it may be worth thinking smaller.
4. Is Age Just A Number? – Are you looking for an older home that you can renovate to match your needs? Or are you wanting a move-in ready, newer home that is still under warranty? If your husband or wife is looking at homes built in the 1980’s and you’re looking at homes no older than 5 years old, this can cause conflict down the road. You may pay less for an older house, but will you have the budget to replace the roof or the boiler when the time comes? But don’t forget about the GST on new homes. There are pros and cons to both ideas, so you need to work out what best fits your family, your budget and your lifestyle.
There are so many defining factors that can make or break a home on your wish list, but our agents are armed with years of experience of matching people to their dream home. Ready to find yours? We’re here to help! Give us a call at 604.850.5040 or send us a message and we’ll start searching for your perfect place today!