4 Navigating the 4 W’s of Home Buying

There are a countless questions you need to answer to understand exactly what you’re looking for and what you need when it comes to buying your first home, your next home, or your investment property.

 

Using the 4 W’s – Why, Where, What and When – will help break down the overwhelming number of decisions you face when buying a property and get you closer to finding your dream home!

 

  1. WHY are you buying/moving?

Are you financially ready to make your dreams of home ownership come true? Are you looking for an investment and feel this might be a good time to buy? Do you need more space for an expanding family? Do you need less space as you move toward retirement?

 

  1. WHERE would you like to be?

 

Is there a specific area, neighbourhood or community you want to be in? Is there an ideal building that appeals to you? What conveniences would you like to be close to?  Work, transit, restaurants, shopping, schools?

 

  1. WHAT type of home would you love to own at this stage?

What is your budget? What have you been pre-approved for in terms of a mortgage? Would you prefer a condominium, townhouse or detached? Bungalow, 2-storey, split-level, high-rise, link? New or resale? How big? How many bedrooms, bathrooms? Backyard or no backyard?

 

  1. WHEN would you like to be moved in?

Do you have an ideal timeline or a deadline that you have to be moved by? Are you early in the buying process or have you been looking for a while?

 

These are just a few questions you need to answer to ensure all of your home buying needs are met and maybe even exceeded!  Enlist the help of a REALTOR® to walk you through an in-depth Buyer Needs Analysis that will guide you through a complex and sometimes overwhelming process.