Episode Five: Defining your goals

Reviewing Your Criteria with your Real Estate Professional:

There are many key criteria that you need to know when you sit down with your
real estate agent before looking for properties to buy.

MAKE A LIST

  1. What is your budget?
  2. When do you plan to move, your timelines?
  3. Do you rent now and do you need to give 60-90 days notice to your landlord?
  4. Where do you want to live? Do you have young children and need to be near a particular school, family, friends, places of worship, and stores?
  5. If you are an Empty Nester and are thinking of Downsizing, where would you like to live? In the same neighbourhood where you have lived all your life, or in a new area, perhaps in the city, close to everything and not needing a car. Maybe you are looking for an urban condo after living in the suburbs for years. 
  6. What type of home are you looking for? A condo, a detached home, a semi or a townhouse? Also, will this be your principal residence, a vacation home or an investment property?
  7. If you want to live in a house, are you prepared to look after the garden, the snow shovelling, the roof, and all the house maintenance required?
  8. Condo living is a very different lifestyle. Do you prefer a high-rise, mid-rise or low-rise? Do you want a balcony, parking, a full-time Concierge, a gym and other amenities? Are pets allowed?
  9. It is important to select a real estate lawyer to close the deal.
  10. In whose name(s) will the property be in?

These are the some of the main criteria that you will need to establish first, before house hunting.

Buyers need to be clear about their criteria and have a budget in place first, before going out house-hunting.
— Vivien S.