KAMLOOPS REAL ESTATE
HOME BUYER'S GUIDE: YOUR LIFESTYLE
Before you begin shopping for your new Kamloops home, reviewing your lifestyle — both now and in the future — will make a big difference in the type of home you may need. You will save time, define your goals, and become more likely to find the home you want quicker because you won't waste your efforts viewing homes that do not meet your unique criteria!
Here are a couple questions to consider:
- Consider your lifestyle a few years from now - will it remain the same?
- Will your needs increase or decrease? Will you need a small or large home to meet those lifestyle needs?
- Do you have children? Do you have an idea of how long you would like to stay in your home?
- Which room do you spend the most time in? What about entertaining? Do you need extra space to accommodate family and friends for functions? Do small children need a play area, or do teens need a recreation area?
- How many bedrooms do you require? Some people like smaller spaces for children, a home office, or frequent guests.
- Bathrooms are among the busiest place in the home—can the bathrooms handle the traffic?
- Will you be changing jobs or accepting a promotion with another company in another location? If you are transferred, could you sell your home quickly?
- How much time do you want to spend driving to and from work each day? Do you rely on public transportation?
While it might take some thought to answer these questions, the effort translates into a home more flexible and suitable to your needs. The answers could also affect your resale value when it comes time to sell or upgrade. Or if you're planning to remain in your home for a while, a different home may be more suitable to your needs!
How Is Your Maintenance-Quotient?
Look at your lifestyle compared to home-ownership. That is, how much time do you have to spend on home maintenance? Do you have time to maintain a property? Are you a handy? While home ownership is a desirable and wise decision, it does come with responsibilities! To maintain the value of your home and protect your investment, you'll want to ensure your home is kept in good condition. This means careful attention to things that need to be fixed!
Based on the age of the house, an opinion from a real estate professional, and a home inspection, you can get a good idea of future maintenance and repairs required to sell the house. If you do not want the maintenance, a newer home or perhaps a apartment or townhouse may be a better option. On the other hand, perhaps you enjoy painting, fixing, decorating and all the assortment of tasks needed to maintain a home. You might find an older home in a great neighbourhood that’s well below market value because it needs some work. This could be a great home improvement project, along with increasing the value of your home in the end.
Before you decide that this project will translate into your “dream home”, be sure to realistically evaluate the situation. Will you do the work on weekends or after work? Will you hire someone to help out, and for how much? Can you live in a mess while you renovate, or can you afford to move in after it's completed? Sometimes people move into a home thinking they'll complete the work in stages - sometimes the work gets done, other times it doesn't. Prior to purchasing the home, prepare a detailed list of the work that needs to be completed, along with a realistic estimate of the costs. You probably won't be happy with a bargain home that translates into a money pit!
Review the Big Picture:
Buying a home represents one of the biggest investments you'll ever make, but that investment goes beyond financial considerations. You'll want to give some careful thought to your lifestyle needs, both now and in the future. In addition, the time and money you have available for home maintenance and repairs is also an important consideration for choosing the right home. Take a look at the entire picture before you purchase!
A good way to truly evaluate which home is right for you, outside of price considerations, is to consider what you absolutely must have and what you can live without. Be sure to read the article Home Buying Needs vs. Wants. This article will help you develop a shopping list. Before you go house hunting, prepare a list of "can't live without" features and a list of "would be great if..." features.