Prior to setting up a meeting with your real estate advisor, it’s important to clarify your budget, personal property preferences, and any anticipated life stage and lifestyle requirements that may impact the purchase of your home. As a starting point for your consultation, we recommend completing the following questions. This will allow you to set clear expectations of what you are looking for, allowing your real estate advisor to service your needs and find you the home of your dreams.The tips below are part of a series of blog posts that provide an overview of home buying essentials. If you would like to receive a comprehensive guide on buying a home, download our free Home Buyers’ Guide.For additional advice on buying, investing or selling real estate, check out additional real estate tips on our blog.
• Target Budget ________________________
• Maximum Budget ________________________
PREFERRED PROPERTY TYPE
☐ Vacation Home
☐ Single-Family Home
☐ Other ______________
PROPERTY FEATURES NEED WANT
• How many bedrooms do you need? ____________ ____________
• How many bathrooms do you need? ____________ ____________
• Do you need space for a home office? ____________ ____________
• What kind of parking facilities do you need? ____________ ____________
• Do you require air conditioning? If so, what type? ____________ ____________
• Do you require storage or hobby space? ____________ ____________
• Do you require garden/outdoor space? ____________ ____________
• Is a fireplace or swimming pool high on your list? ____________ ____________
• Do you want special features to save energy, enhance indoor air quality, or to reduce environmental impact? ____________ ___________
LIFESTYLE AND LIFE STAGE
Most people aim to find a home and neighbourhood that will meet their needs for the next five to 10 years. Your real estate advisor can help you assess how your lifestyle and life stage needs may impact the property or neighbourhood that is right for you.
• How long do you plan on staying in this home? ________________________
• Will you need a home that can accommodate different stages of life? ________________________
• Do you have children or plan to have children? ________________________
• Do you have teenagers who will be moving away soon? ________________________
• Do you have family members with special needs? ________________________
• Are you close to retirement? ________________________
• Do you have an older relative who might come to live with you? ________________________
Evaluate these considerations carefully and discuss with those who may be helping you make your home purchase decision. Once you’ve defined your goals, needs and budget, review them with your real estate agent so that they can match you to the homes that best meet your requirements.
This article was originally published on June 6, 2013 and has been updated on January 7, 2020.
The post Home Buyers’ Essentials | How to Define Your Goals, Needs, and Budget appeared first on Sotheby’s International Realty Canada.