Whether you are first starting out, downsizing, or looking for your forever home you may want to consider some options to make your decision easier. Sometimes life can send you some curveballs and your decision on what home is right can be an emotional or sometimes stressful ride. Finding out what your best option is, wherever you are in life, can be made easier by considering what type of housing is right for you now or in the near future. Here are three different options that our Anne Winch Ottawa Real Estate and Staging Team has put together to make your journey a little easier:
First home:
- Location: The first decision you should make is the location. Are you interested in being close to restaurants, nightlife or a more exuberant lifestyle? If a quieter neighbourhood with nature trails and calming walks is more to your liking, you need to find a home in this type of area. Location is very important!
- Commitment: Are you financially ready to commit to being a homeowner? Owning a home includes upkeep, mortgage payments, taxes, and insurance.
- Down payment and savings: It is always good to have some savings ready to make a good down payment. Don’t overspend and stretch yourself too thin when you buy your first home. You may need some savings for renovations or repairs down the road.
Forever home:
- How Flexible are you? If your first home is also your forever home, you need to think about all your options for the various stages of life. Will you be having a family? Do you need a lot of bedrooms that won’t be used later in life? When you retire do you need all that added space? For example, you may want your forever home to be a bungalow in case of mobility issues later in life.
- Energy efficiency: You may want to have a home that is energy efficient and easy to heat with not a lot of additional cost. Are you looking at a home in the country? Some older homes are drafty and can be less energy efficient.
- Good bones: Have your home fully inspected by a reputable home inspection team or structural engineer. A sturdy home with good bones will last for years.
- Saleability: Even though you believe you may want one home for all your life, that rarely happens. Sometimes circumstances in life may change and you will have to sell your home. Make sure you have a home that is in a good district for resale. Keep up repairs in case you have to sell down the road.
Downsizing:
- Why? – Keep in mind the main reason why you want to downsize. Are you looking for a smaller house so you can travel? Are you looking for more savings a smaller abode will bring? Perhaps you are looking at less upkeep. Whatever your decision, make sure this is your main focus when you are considering your next house.
- Floor plan: if you are going to a smaller home remember that you will not just be downsizing your home but also your current furnishings and belongings. A good tip is to bring a measuring tape during any showings on your house hunting trips. It is sometimes hard to visualize if your couch or perhaps your bed might fit in lesser space. Do you need a den for your home-based business?
- Declutter before you move: You won’t be able to fit all your present furniture and belongings in a smaller space. Now is the time to declutter before you move. Perhaps you are going to a smaller kitchen and you don’t have as much counter or cupboard space you had before. You don’t want to be packing up excess items that you will have to sell or give away once you have moved.
- Storage is ok: It can be an emotional roller coaster ride when you go to a smaller home and sometimes you just can’t part with certain items. You may want to store some of them until you feel comfortable in your new home and you are ready to say good-bye!
We hope that we have given you some “food for thought” before you make your next move. Out Team understands the various emotions you have whether this is your first home or your forever home. We can help you find the right home no matter what stage of life you are in. We pride ourselves with helping our clients find their happy place. Don’t hesitate to contact us for any real estate needs you may have –- whether buying or selling — we would love to help!