First-Time Home Buyers Mortgage

How to Narrow Down What You Want/Need in a New Home

calendarJune 16, 2018

peopleThe Mortgage Advisors

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If you don’t narrow down what you need/want in a new home before purchasing, you could end up making a poor decision that could even force you to sell soon after. Since purchasing and selling is a costly endeavour, it’s wise to take the time to discover what you really need in a house before signing anything. To help ensure that your purchase is right for you, here are a few of the most important things you should consider when choosing a home.

Number of Bedrooms

When it comes to narrowing down what you want in a new home, the first thing you should consider is the number of bedrooms you’ll need. Whenever you plan to live in a home for more than five years, you should determine if there’s a likelihood of expanding your family during this time. If you currently have one child and decide to purchase a two-bedroom home, will you have room for a new baby in the future?  If you have a kid in college, what’s the likelihood of them moving home after graduation? Or, if you have an ageing parent, will there be enough room for them to move in when you need to care for them? Planning in advance can save you time, money and the aggravation of having to move again if you out-grow your home.


Backyard Space

When you’re trying to narrow down your search, consider how much yard space you need to keep in tow with your lifestyle. Do you enjoy hosting get-togethers with friends? Or maybe you need enough room for your kids or pets to run around in. In this case, you may prefer a home with beautiful landscaping and a deck that can frequently be used. Just remember, if you need a backyard, it’s always easier to reduce space than increase it.

Kitchen Requirements

We all know by now that the kitchen is the area that is used most often in a home. So when you’re trying to narrow down your requirements, be sure to really consider your kitchen needs. If you love to test out new recipes and host dinner parties with family gathered around the counter, the kitchen space and design will be important. But remember, even if you find the perfect size, a kitchen renovation is always a worthy investment it if it doesn’t have the complete design and layout you desire.

Neighbourhood Selection

The house design is not the only factor you need to consider – you also have to choose the right neighbourhood for your lifestyle. If you enjoy being within walking distance to amenities, then you may want to find a more urban setting.  If you don’t like noise, then you probably want to stay away from a busy intersection. And if you have kids, you’ll want to live close to parks, schools, and community centres that are in a safe and family-orientated area.

When it comes to choosing the right home, it’s so essential to consider what your needs are now and what they will be in the future. This should also include the type of mortgage you can afford to ensure that you have the best rates, along with a plan that suits your needs even ten years down the road. At The Mortgage Advisors, we take your lifestyle and financial situation into consideration when we’re looking for your mortgage. We’ll ask you the questions that matter and provide you with options that are best suited to your needs. Contact us today to find out more.

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