Dreaming of a large lakefront home? Is it really the right property for you? Sometimes you have to know the difference between your dream home and the one that really suits you. Before you start looking, take some time to think.
Each family has its own needs and priorities. How many bedrooms and bathrooms do you need? Is a dining room really necessary? And will the garage become another storage space?
Consider your taste. If you are not a handyman, avoid homes that need major renovations. Do you have a crush on a large lot? Don’t forget that you’ll have to maintain it. If you prefer urban living to be closer to services, entertainment venues and trendy restaurants, expect to live in a noisier and less green environment. In short, set your priorities!
Don’t make the mistake of buying a home you can’t afford. To find the right property for you, adjust your needs to your budget. Once you become a homeowner, your investment will increase in value and allow you to move on to a property closer to your ideal. At the outset, remember to set aside money for the costs of the purchase and for contingencies. This does not include maintenance, insurance and repairs, which usually cost 2% to 3% of the price of the home each year.
Your environment is also an important factor. Is there a daycare or school nearby? Will your children be able to use public transportation or will you have to drive them? Also consider how far away you are from work.