"Location, location, location!" You've probably heard it a hundred times before, and everyone knows that location is always important. But what does that really mean? What is the ideal location. Should you be close to catering services in Toronto, in the heart of the city, or is the ideal location in the country near a quiet lake? Maybe they should say, "Location, location, location?" because it certainly seems like there is no ideal location. Everyone will have a different idea as to what the perfect location is.
When you are buying a new home, even if you are a first time homebuyer, you likely have a pretty strong opinion as to where you want to live, but have you thought it through? It may seem like the conveniences of living near your yoga classes in Richmond Hill would outweigh any possible drawbacks it is really important that you carefully consider all of the pros and cons of a location before choosing to purchase a home there.
One thing that you need to consider is the property values of the location you are considering. You should consider the value of the property both at present and in the future. Some neighborhoods are on the rise and property values can be expected to soar, while others are declining and you might expect those properties to plummet. You Long Branch real estate agent can help you by providing information about properties in the area and the trends that have affected the various neighborhoods you are considering purchasing in.
Of course property values are the only thing to consider when looking at a real estate listing in Toronto. Even if the property values are high and rising you need to consider if you can afford the mortgage. If the mortgage is also very high then it might not be in your best interest to purchase the property. Of course, the ideal situation is to find a property that is low priced and located in a neighborhood where property values are expected to rise, but of course, this is not always possible. Just be certain not to take on a mortgage you can't handle because you expect your home to some day rise in value.
Naturally, property values aside there are other factors that you need to consider when you are deciding where to purchase a home. If you hate the city, you probably shouldn't purchase a downtown condo. If you work in the city and hate to commute you should avoid looking in the country, as you will want to be close to the Toronto physiotherapy office where you work. This is the hard part of choosing where to live, you need to balance convenience and preference.