Looking for your perfect first home requires a lot of decisions among which, location is a major factor. Consider these points when deciding where to buy…
1) Potential Value: Besides the fact that neighbourhoods will vary in average sale prices at the time that you’re buying, you should also consider the upside value of the home you’re purchasing in the coming years. Is there new infrastructure being built? Are new businesses coming in? Sometimes, it might take up to a decade before a neighbourhood improves but you can also save a lot of money and get a better return on your investment if for the future.
2) Proximity: Proximity to transportation, amenities, schools and your work will help with your peace of mind over the years and help with the resale value of the house. It can also help to save you money in the long run.
3) Demographics: What is the community like that you’ll be moving into? Are you looking for a younger or older community? Does the neighbourhood consist largely of families with children, singles and couples or retirees and seniors? Being part of a community can effect your overall experience in your home for the coming years.
These few points may make the difference between a happy home and a headache. For something you’re investing a lot of money into, location is an important consideration. I hope these ideas help you find the perfect home.