Best predictor of future value is past/current price trends of similar homes in neighborhood
Neighborhood development opportunities
To schools, amenities, city core, transportation
Long-term / resale value:
Desire of future buyers to buy same property
A home is about more than the number of bedrooms or bathrooms. It's about how you feel when you're in it. To really pinpoint the type of home you're looking for, consider the following questions and discuss them with your Realtor.
1. What makes you comfortable in your current home?
Is there anything in particular you'd like to duplicate?
2. What is your primary reason for searching for a new home?
3. Do you have/or intend to have children? What are their ages, interests and activities?
4. Do you entertain a lot? What areas of your home will you primarily use to entertain?
5. How long do you expect to live in the home?
6. Do you have any pets that stay in the house or outside?
7. Would you consider yourself to be more casual or formal?
8. When you imagine your dream home, what do you see? What images come to mind?
List your space needs, including:
living space requirements (i.e. how many bedrooms)
what you're bringing with you from your old house
Consider the following and record any notes or preferences:
Number of bedrooms
Number of bathrooms
Age of property
Condo or House
What are your needs? Now, 1-3 years, 5 years plus?
Affordability, More on this later.
What can you afford? Down payment, heating, condo fees, maintenance, repairs, renovations, property taxes…
More than just the home, it's important to think about the type of neighborhood that is right for you.
Please consider the following and record any notes or preferences:
Areas you would enjoy
Specific streets you like
School district(s) you prefer
Your work location(s)
Your favorite shops/conveniences
Recreational facilities you enjoy
Any additional items to consider when selecting our target neighborhoods:
Neighborhood price trends. Return on your investment. Last 15 years, next 15 years.
Supply and Demand
How much of the same type of housing is in your area? Too much will cause extra supply, too little may have your property appear as too “unique”
Generally less expensive
Less maintenance than a house
Include extras, such as security systems and recreation facilities.
Be prepared to pay monthly condominium fees that contribute to the corporation’s contingency fund and go toward covering the collective cost of property maintenance, repairs, replacements and insurance.