House Hunting Tips

Once you know how much money you can borrow/spend, you will know the price range you can afford. You might already have your "dream home" in mind. Perhaps you want to settle down in a particular neighborhood, or maybe you just need more space for your growing family. Even if you know exactly what you're looking for, the house hunting process can be overwhelming. It takes time.

Here are some good house hunting tips:

  • Take pictures inside and outside the home.
  • Bring a spouse, family member, or friend.
  • Make sure the house fits into your budget.
  • Think of commuting time and costs.
  • Compare what you'd like to have against what you really need.
  • Consider your monthly budget - can you afford the renovations and maintenance
    that you'll need to do?
  • Avoid making a "spur-of-the-moment" decision.

What else can you do to make the house hunting process easier?

  • List your needs.

    • Know the difference between your wants and your needs and keep track of the homes you see that come closest to meeting your needs. Before you start house hunting, decide on what you really need. Then list the features that would be nice to have. Once you have a clear idea of what you need as well as what you would like in a house, finding that house will be much easier.
    • Be realistic. Looking for a home takes time, so focus on what's important to you. After looking at lots of homes, the line between "I need a garage" and "I want a garage" can get very blurry.
    • Many people focus more on what they'd like to have instead of focusing on what they actually need - that can mean they pass up a home that meets their needs in hopes of finding one that meets their wants.
    • Ultimately, you should be able to find a home that is a blend of your needs and wants.
    • To help keep your priorities in order, make a wish list and a must-have list, and take them with you whenever you look at a house.
    • Here are a list of questions you should ask yourself:
      • What are you looking for in a home?
      • Must it be a bungalow, a condominium, an apartment or a penthouse? The actual area and size will depend on the size of your family as well as your own personal requirements. Think long term. Maybe you and your spouse require just a one-bedroom apartment at this point in time but plan to have two children later. In that case, a two-bedroom or even a three-bedroom is a better option.
      • Why do you need one?
      • Are you purchasing it to reside in it? Or do you view property as an investment and you are looking at capital appreciation?
      • Have you taken other factors into account?
      • If it is an apartment, you will have to check out the building too. Is parking available? Is it open or covered? Is there any security provided by the society? Is security provided round the clock? Do you know anything about your neighbours? Is the building well maintained? Does it have a garden? Are you on the lookout for a housing complex that also has a pool and a gymnasium?

  • Concentrate on a few neighborhoods.

    • Decide what's most important to you about the neighborhood you want. This can greatly narrow down your search.
    • When you can tell the difference between your housing wants and needs, you'll probably have an easier time deciding what you want and need from a neighborhood. Where you live is as important as the house you live in.
    • You may already have a good idea about the neighborhood you would like to live in. Don't let that keep you from looking at other neighborhoods with similar qualities. You might not be giving another area a chance - and you might be passing up your dream house.
    • Ask yourself these questions about neighborhoods
    • Personal Questions
      • How long will it take to get to work? What will it cost?
      • How far will you be from family members?
      • How far will you be from religious activities, night school, or other regular activities?
      • Are there any society restrictions?
      • Can you afford the taxes?
    • Neighborhood-Specific Questions
      • What are the schools, hospitals, and other public services like?
        How close are they?
      • Is it an older, established neighborhood or a younger, still growing community?
      • Are there signs of new construction in the area?
      • What will this neighborhood look like in 10 years?
      • What are the values of other homes in the neighborhood?
      • If there are nearby restaurants and other businesses, do they bring people out during the day, or at night?
      • What's the traffic like during the week? In the evenings? On weekends?
      • Is the empty space behind the complex going to be developed?
      • Are there plans for a mega-mall or sports facility nearby?
      • Are there mass-transit options within walking distance?
      • If you like a neighborhood, talk to people who live there. They'll be the most knowledgeable about the area and may be your future neighbors.
    • Where should you look for additional neighborhood and community information?
      • Local newspapers and radio stations
      • Local school districts, school boards and websites for school information
      • Neighborhood associations
      • Real estate professionals
      • Local organizations
      • Local businesses
      • The Internet

  • Compare homes.
    Make sure you know what you would get and what you would miss in each house before you make a decision.