|
|
Determining Your Needs
Choosing a Neighbourhood
An Established Neighbourhood or a New Home?
How many bedrooms will you one day require? Your preschoolers will be
teens some day. Are you planning to stay in your home that long? Perhaps
your teens are ready to move out on their own. What will you do with
all the extra space? When you're thinking about accommodating your
family's needs, think of things like parking. How many cars will
require space? You'll also want to consider proximity to -- and the
reputation of -- schools in the area.
Established neighbourhoods tend to have their own personalities, mature trees and
often larger yards. Older building styles tended to lean toward higher, plaster
ceilings, hardwood floors and decorative woodwork. Depending on the age of the home,
it may require a little more maintenance. Established neighbourhoods are usually
closer to the city.
Urban living usually puts you at the centre of the action. It offers a wide variety
of amenities like shops, theatres and restaurants. It may be closer to your workplace.
Of course, the drawback of an urban location could be a smaller, older or more expensive
home. Look for schools (Public and Catholic), Playgrounds, Parks, etc. Make sure
there are no undesirable areas surrounding your neighbourhood such as a garbage
dump, industrious buildings disposing bad odours, etc.
The suburbs usually have the advantage of newer homes, and more square footage for
the same price as an urban location, but may not have the other amenities as close
as you'd like.
New neighbourhoods tend to have a noticeable lack of foliage and can look barren
for years as the landscaping matures. If you purchase a home before it is built,
you will be able to take advantage of upgrades during construction, and when you
move in you can decorate to your taste. A new home won't have the charm of an old
one, but will have warranties covering most major components. Be careful in understanding
what the warranty covers. New homes have some real disadvantages that most people
don't think of until it's too late.
|
New vs. Used
- When buying a new home, keep in mind that the representative you are dealing with
at the new home site may not be a licensed real estate agent. The new home representative's
best interest may lie with the builder and not you. In many cases, the builder will
not allow your RE/MAX agent to protect your interests or help you prepare the agreement.
- The builder's agreements can be very one-sided in favour of the builder. Did you
know that many agreements allow the builder to extend closing by 2-3 months twice,
and then cancel the agreement if the house still isn't built?
- Your team of experts cannot fully protect you when buying a new home.
For example, your lawyer will not be able to force the builder to sell you a house
that's not there yet. Whereas when buying a used home, your RE/MAX agent will be
able to negotiate the price, and your mortgage expert will be able to arrange the
best possible mortgage for you. If you do decide to buy a new home, try not to get
confused with terms like "mortgage-paydowns" that are built into the price of the
home.
- Remember, your home inspector will not be able to inspect a house that's not built
yet and new homes are not always trouble free.
- As a new home buyer you may have to spend money on additional expenses like driveways,
decks, landscaping, decorating, recreation rooms, air conditioning and fencing.
If you want all of the above without having to go through all the hassles a used
home might be the solution for you.
Determining Your Needs
Choosing a Neighbourhood
An Established Neighbourhood or a New Home?
How many bedrooms will you one day require? Your preschoolers will be
teens some day. Are you planning to stay in your home that long? Perhaps
your teens are ready to move out on their own. What will you do with
all the extra space? When you're thinking about accommodating your
family's needs, think of things like parking. How many cars will
require space? You'll also want to consider proximity to -- and the
reputation of -- schools in the area.
Established neighbourhoods tend to have their own personalities, mature trees and
often larger yards. Older building styles tended to lean toward higher, plaster
ceilings, hardwood floors and decorative woodwork. Depending on the age of the home,
it may require a little more maintenance. Established neighbourhoods are usually
closer to the city.
Urban living usually puts you at the centre of the action. It offers a wide variety
of amenities like shops, theatres and restaurants. It may be closer to your workplace.
Of course, the drawback of an urban location could be a smaller, older or more expensive
home. Look for schools (Public and Catholic), Playgrounds, Parks, etc. Make sure
there are no undesirable areas surrounding your neighbourhood such as a garbage
dump, industrious buildings disposing bad odours, etc.
The suburbs usually have the advantage of newer homes, and more square footage for
the same price as an urban location, but may not have the other amenities as close
as you'd like.
New neighbourhoods tend to have a noticeable lack of foliage and can look barren
for years as the landscaping matures. If you purchase a home before it is built,
you will be able to take advantage of upgrades during construction, and when you
move in you can decorate to your taste. A new home won't have the charm of an old
one, but will have warranties covering most major components. Be careful in understanding
what the warranty covers. New homes have some real disadvantages that most people
don't think of until it's too late.
|
New vs. Used
- When buying a new home, keep in mind that the representative you are dealing with
at the new home site may not be a licensed real estate agent. The new home representative's
best interest may lie with the builder and not you. In many cases, the builder will
not allow your RE/MAX agent to protect your interests or help you prepare the agreement.
- The builder's agreements can be very one-sided in favour of the builder. Did you
know that many agreements allow the builder to extend closing by 2-3 months twice,
and then cancel the agreement if the house still isn't built?
- Your team of experts cannot fully protect you when buying a new home.
For example, your lawyer will not be able to force the builder to sell you a house
that's not there yet. Whereas when buying a used home, your RE/MAX agent will be
able to negotiate the price, and your mortgage expert will be able to arrange the
best possible mortgage for you. If you do decide to buy a new home, try not to get
confused with terms like "mortgage-paydowns" that are built into the price of the
home.
- Remember, your home inspector will not be able to inspect a house that's not built
yet and new homes are not always trouble free.
- As a new home buyer you may have to spend money on additional expenses like driveways,
decks, landscaping, decorating, recreation rooms, air conditioning and fencing.
If you want all of the above without having to go through all the hassles a used
home might be the solution for you.
|
|
|
|