5 Factors to Consider When Buying a House
Published on 16 December 2021 in Blog Home Buying Tips Tips by
Last updated on June 23rd, 2025 at 12:05 pm
Buying a home is one achievement in life that many of us strive for. It’s an exciting process when you’re house hunting to find your dream property. Walking into homes with your realtor, you might feel an instant connection, like the property is meant to be yours. Hold on! Before you get swept up in the excitement and place an offer, it’s imperative to stop and think about what you really need and want in your dream home, and how it will impact your lifestyle. After all, it’s a big investment, and it’ll be the place where you live for the foreseeable future. So, how can you determine if a property is right for you and your family? Here are some of the key factors to consider when buying a house.What You Need to Know Before Buying a Home
1. Know Your True Budget (Not Just the Listing Price)
The most important factor to be crystal clear on before house hunting is your budget. Specifically, you should understand all of the expenses that will be required when purchasing a home, including monthly expenses beyond just the sale price and mortgage. Things like your utility bills, property taxes, insurance premiums, and maintenance needs are just a few examples. If you’re purchasing a condo or a home in a managed community, condo fees or association dues can significantly impact your budget as well. Additionally, if you’re planning to purchase a fixer-upper, make sure to factor in the extra costs that will be needed to renovate. Those unexpected costs can include emergency repairs, seasonal maintenance, or replacing aging appliances.2. Location, Commute, and Lifestyle Fit
Daily Commute
Are you willing to commute to work or the city? If so, what’s the maximum timeframe that you’re willing to endure? Will you or your family need public transit nearby? Commute times and proximity to transit can be very important factors for many who rely on taking the train to work or for those who want to be able to hop in their car and reach the office in the least amount of time possible. It all comes down to what you prioritize, so make sure to think about the route you’d have to take, what the local traffic is like, and what you’re willing to compromise.Proximity to Schools, Healthcare, and Recreation
Don’t forget to consider proximity to other amenities like schools, healthcare facilities, and recreational areas. If you’re raising a family, access to good schools and family-friendly recreation should be a key deciding factor when choosing a house. For those working remotely, a longer commute may not matter, but proximity to parks or cafes might.Lifestyle Fit
While commute planning is important, choosing the right location is about more than just commute time. It’s about how well a neighbourhood aligns with your lifestyle and other daily needs. Start by asking yourself what your non-negotiables are. If you rely on public transit, check for nearby bus routes or train stations. If you prefer walking or biking, look for areas with high walkability scores and safe pedestrian paths.Neighbourhood Vibe
When you move into a home, you’re also moving into a new neighbourhood, which is why it’s a good idea to choose an area that you enjoy. Do you want an urban location where you can walk to local coffee shops and stores? Maybe you’re eager to find something in the country so you can enjoy a slower pace, avoid noisy neighbours, and embrace an easier lifestyle. Whatever your preference is, think carefully about what you want in a location, and do some research to learn about different neighbourhoods that could be a good potential fit. Your real estate agent can also help you find the perfect place that will have the vibe that will suit your lifestyle.3. Evaluate the Neighbourhood and Community
When evaluating the neighbourhood, closely examine the surrounding community and dive deeper into factors like crime rates, school rankings, and community events and organizations. A great place to start your research is to visit local Facebook groups or community forums to get a general sense of what residents love, complain about, or suggest for newcomers. Plus, make sure to visit the area during different times of the day to observe traffic patterns, noise levels, lighting, and overall activity. Remember, don’t just look at the home itself. Look left, right, and across the street.4. Current and Future Space Needs
Are you searching for a 2-bedroom, 3-bedroom, or a house with a large backyard? Do you prefer something smaller and compact that’s cozy and easy to maintain? When choosing a home, think beyond your immediate needs and consider how your space requirements might change over time, such as a home office for remote work, a guest room for frequent visitors, or a large backyard for kids to play in. Look for features like finished basements, attic spaces, or garage conversions that can serve multiple purposes over the years. If you plan to expand your family in the near future or have your parents eventually move in with you, take all of this into consideration so you can land in a home that you can comfortably grow in. Finally, if you know that your new home won’t be yours forever, think of the home’s resale value and ask yourself whether the current layout will appeal to future buyers.5. Maintenance: Be Honest About Your Lifestyle
No property will be perfect or have every single thing you want. But one of the most important ways to land in a home that you will love is to be honest with yourself right from the get-go. If you’re not a fan of high-maintenance properties and don’t intend on maintaining the landscape, avoid properties that will require it. Instead, consider a condo or townhouse where landscaping, snow removal, and exterior upkeep are often handled for you.
While a heritage home with original features may offer charm, it often comes with ongoing repairs, updates, and seasonal tasks like roof maintenance or weatherproofing. If you don’t want to endure lots of renovations, steer clear of older homes, too.
When considering putting an offer on a home, make a checklist to see whether you have the time and budget required for this property’s upkeep.