7 Factors To Consider When Buying Your Dream Home

Theresa Baird

Thursday, November 16, 2023

7 Factors To Consider When Buying Your Dream Home

Ready to search for your dream property? There are many things for buyers to consider, so we’ve created a checklist to help you set your priorities. Let the search for your dream home begin!

1. The area

Location, location, location — we’ve all heard this property mantra, and for good reason. When you’re buying a home, it’s imperative to know if the area is right for you. Are your required and desired amenities close at hand? Do you feel “at home” and comfortable in the neighbourhood? Will the area hold its value, or is it an up-and-coming place that will become even more desirable? Check the history of property values, explore shops and restaurants, and talk to people about the area to get the “feel” of the place.

2. Age of the property

Are you lured by the charm of a period property or the opportunities of a new build? Period homes have charm and character, but may be more expensive to maintain. New homes are a tabula rasa, built with more energy efficiency and designed for modern lifestyles. Ultimately, the choice comes down to personal preference.

3. Aesthetics

Home style is also a matter of personal preference, and you’ll likely go into your house hunt with certain aesthetics in mind. Are you looking for a modern, minimalist single-family home, a townhome rich in Victorian details or an eclectic retreat? Each will have its pluses and minuses, depending on your point of view. Finding a style that feels like you and your family is key to knowing which property is right for you.

4. Size

It may seem obvious, but size matters. You don’t want to to rattle around in (and care for) a huge home if you don’t need the space. Nor do you want to be cramped and uncomfortable. Are you a family that enjoys plenty of space and privacy, or are you happy with the buzz and hubbub of having everyone together? Either way, you need to choose the space that fits your needs and lifestyle.

5. Resale value

There will come a time when you need to move on, so it’s smart to consider the resale potential of properties you look at. Is it a desirable place? Is it in a desirable place? Does the home and similar homes nearby have a history of selling quickly? Keep this in mind when splashing out on your dream home.

6. Affordability

It’s easy to fall in love with a home only to realise it’s beyond your budget. Before you shop, check an online affordability calculator to get a sense of how much you can afford to borrow for a mortgage. It’s important to keep your emotions in check so you don’t overstretch yourself and risk your financial stability.

7. The X factor

At the end of the day, it’s all about the home feels. Can you imagine yourself enjoying life there? Does it “spark joy?” We humans are emotional creatures, and it’s important to connect with a space we’ll call home.

A brilliant option

Pacaso offers spectacular dream homes that are sure to spark joy. Connect with Theresa and her team at the TB realty Group to check out our fully managed, turnkey second homes in more than 40 world-class destinations.

Published October 2, 2023
Pacaso

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