Tips for Choosing the Perfect Neighbourhood for Your Next Home
Do you know where you want to purchase a home? Most buyers have a pretty good idea of where they’d like to live. Some have a few neighbourhoods in mind, while others have it narrowed down to a particular block on a specific street. The truth is, the community where you picture yourself putting down roots may be perfect for you—or maybe it won’t be. There are many factors that will determine your ideal location, and knowing what they are can help you make the right decision.
Here are a few simple steps you can take to find the perfect neighbourhood for your next home…
Decide what matters
Before you start your search, create a home-buying criteria. From architectural style to square footage, what are you looking for in a living space? You’ll also want to consider your preferred lifestyle. Do you see your family walking to nearby shops and eateries, or would you rather have large grocery and department stores just a short drive away? When it comes to typical property characteristics and nearby amenities, every community is different. Creating a list of must-haves will allow you to start narrowing down neighbourhoods.
Get to know the local market
Once you have a few areas in mind, it’s time to look at affordability for each one. An easy way to get a sense of what’s available in your price range is by perusing neighbourhood listings. Based on how much you have to spend, you may need to rule out some communities in favour of others that have similar things to offer. As soon as you feel ready, contact an agent. An experienced professional can help you zero in on locations that align with your preferences—and your budget.
Look into schools
If you have little ones, there’s a good chance that schools will be a top factor in your purchase decision. That’s why it pays to ask yourself a few questions before choosing a community. Is it important that your kids get a French language or faith-based education? How much stock do you put in performance metrics, such as Fraser Institute rankings or EQAO scores? Even if you don’t have children, neighbourhood schools are worth considering. When the time comes to sell, having one that’s reputable and well-maintained in the area could boost your property value.
Consider commute times
Many buyers don’t think about their daily commutes before diving into the home hunt. All too often, they’re surprised to find that the charming enclave they’ve fallen in love with is an hour’s drive from the office—on a good day. Whether or not that distance would deter you, it’s worth knowing about if you want to carry out a fully informed search. Consider mapping your journey from the neighbourhoods you’re considering to the places you visit often (from your workplace to daycare to the homes of close relatives).
Think of the future
There’s no getting around it: neighbourhoods don’t stay the same forever. Change could mean a new community centre or the addition of a charming cafe, but there are also instances when it completely transforms an area. If you’re looking for your forever home (or at least one where you’ll be putting down roots for a while), it’s best to know what the future holds. Ask your agent about potential upcoming developments proposed for any neighbourhood you’re considering. On the flip side, if an area is stagnating, it could have a negative impact on home values. This, too, is something you deserve to know.
Ready to start the search for your next home? From choosing the right community to closing and everything in between, learn how we can help ensure your purchase is a success!
