Crucial Questions Buyers Should Ask About A Potential Home
Buying a first home can be overwhelming and, as buyers, we tend to become wrapped up in the physical aspects of a home– the amount of rooms, a condo’s amenities — and neglect less obvious, but equally as important issues that will affect our quality of life. Well, here’s a little list of reminders to keep you on track…
The obvious ones are the first to come to mind:
* the distance to work
* the quality of schools in the neighbourhood
* neighborhood shopping and recreation.
Those factors, while important, may not touch the issues specific to your situation. For instance, you may be one of the thousands of families who have an aging parent living with them. The average age of our population has grown older, meaning we are living longer lives, spending longer periods as widows and widowers and increasingly taking up residence with our children.
In such situations, the distance from our homes to the nearest hospital is vitally important. Public transportation is also something we tend to overlook in a nation of drivers. As more of us get older, many of us elect not to drive, which makes having public transportation nearby even more important.
Public safety is a also major issue and you shouldn’t overlook proximity to police stations, emergency medical services and fire stations. Community groups — including homeowner, business and residents’ associations, PTAs and a neighborhood crime-watch — are also important to keep an area safe and vital. You can look into whether there are any of these groups in your prospective neighbourhood and, if so, research their vitality and level of involvement or clout.
You might want to consider the parking situation in the neighbourhood, too. If the property has a garage, or a driveway, or pad parking, this won’t be an issue for you. But if there’s no parking on the property, you’d better call the city and find out if there are street parking permits available. As well, don’t assume that you can install front-pad parking (in lieu of your front yard) just because you want to; once again, you’re best to call the city to check on costs and whether you’re allowed to create such parking spots on your street.
And even if YOU can park, how hard will it be for your guests to park their cars? Will they have to circle the area for 30 minutes? (Bear in mind, too, that many areas where parking is tight usually have “secret” and legal parking spots that only residents know about — the people selling the home may be able to pass on this information to you.)
Another issue is property taxes: You know what the owners pay today, but in Toronto, it’s well worth your while to find out what the house has been reassessed at and to figure out whether the latest tax hike has been fully enacted, or if it’s being phased in.
Here’s one more: if you’re buying a condo, you may want to inquire about any pending maintenance fee increases.
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Contact the Jeffrey Team for more information
