Homebuying Step by Step: Your Guide to Buying a Home in Canada
STEP4 Finding the right home
Now that you have a clear picture of your finances and mortgage options, it’s time to start thinking about the kind of home you want to buy. Look for a home that will meet your needs not just today, but also 5 or even 10 years into the future.
What do you want or need in a home? Make a list of your requirements and preferences for a home. Consider the following factors and questions in your list. Location
Size How many bedrooms or bathrooms do you need? Do you need space for a home office or for extra storage? Do you need a garage?
Special features Is an air conditioner or a swimming pool on your list? Do your family members have allergies, environmental sensitivities or other special needs? Is it important that your home be energy efficient and environmentally friendly? Will you need it to adapt to changing needs as you age?
Lifestyle Are you planning to have children? Do you have any teenage children who will be moving away soon? Are you close to retirement? Do you want to live where you can go for walks or take your kids to a park? Do you want to live close to a community centre or place of worship? Is it important that you live close to family and friends?
Do you want to live downtown, in the suburbs or in a more rural environment? Does the neighbourhood have a look and feel that suits your style? Do you want to live close enough to work, school, shopping, recreation facilities, health services and public transit that you won’t need a car to get around?
The home you choose today will have an impact on your lifestyle and your finances for years to come. Take the time now to make the best decision for you and your family.
If you are considering living in the suburbs, you may be able to buy a larger home, but you may also have a longer commute to work or school. Be sure to weigh each decision carefully.
Use the Your housing needs worksheet in Step 4 of the workbook.
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