For many, the question lingers in the back of their minds: When is the right time to move into our forever home?  The kids are getting bigger, the pets are multiplying, people are on top of each other in all rooms. You dream about a home office or spare bedroom to have guests stay over. And what about that big backyard of your dreams?  Wouldn’t it be nice to find that forever home and upsize into your perfect home?  We can help get you there and it’s simpler than you may think. Let’s start by going over a few factors to consider when choosing your forever home.

How to Choose Your Forever Home

1. Plan a Visit

When it comes to finding your forever home, location is a major factor to consider. You’ll want to carefully scope out the neighbourhoods in your desired area to ensure it meets your expectations. Not sure what to look for? Consider things like green spaces, access to grocery stores, community centers, transportation and overall style and feel of the community. Plan a day to visit the area and walk the neighbourhood to get a good feel for it. And don’t just go once. Go a few times at different times of the day and different days of the week. What does a Saturday morning in the neighbourhood feel like? What about a midweek morning? Get a good feel for the area and see if you can picture yourself living there. If you have children, or plan to start a family, research local schools and extracurricular activities in the area too.  

2. List Your Must Haves

Establishing a list of must haves and nice to haves is an important step when upsizing your home.  Having both partners make their list and rank the items in order of what is most important to least important is a time well spent activity. Then compare lists and see where you’re at. Are you looking for a large yard perfect for outdoor entertaining? Or at least four bedrooms with a main floor office space?  The possibilities are endless.  If you have kids, get them involved in this too…things like a sidewalk to ride bikes or wilderness trails to explore may not have been on your list but would be a wonderful childhood experience to give to your children.  Look at which items will most significantly impact your quality of life and which ones are less important now.

3. Determine Your Ideal Home Type

Think about what type of life you envision and what your priorities are. For many, when upsizing, the vision is a large detached home on a big lot.  This isn’t always the case though. There are many different types of homes. Perhaps you’re in a townhome and looking for one slightly larger on a quieter street.  Or maybe a multi-family home with room for you and the in-laws is what you envision.

4. DIY vs Done for you Home

How do you feel about home renos and projects? Do you want a home that’s already done and ready to move in to or would you consider a fixer-upper that you can put your personal mark on?  Some projects such as flooring, paint and minor remodels are relatively simple, especially if you get them done just before moving in.  While more significant updates like layout changes or additions will require more money and time. But if you dread living through renovations, focus your energy on finding a turnkey property that already has your essentials in place.

5. Look Ahead to the Future

What do you envision your life looking like in 5, 10, or even 15 years? How much room do you need for your growing family, pets and hobbies. Do you envision the kids moving home after university for a few years or in-laws moving as they age?  There are considerable costs involved when buying and selling, so you want to make sure you’ll be set for at least the next few years. Keep future needs in mind when choosing a forever home.

Before Upsizing, Ask Yourself These Questions

What is my current home worth?

There are a lot of things that go into consideration when determining what your home is worth.  Factors to consider are age, condition, location, updates and many more. This is where an experienced Realtor can help. Our team can provide you with a CMA (Current Market Analysis) that will tell you what your home is worth in today’s market. There are a lot of online tools that can do this too, but from our experience, those tools just don’t get close enough to what your true value is.  Request a home evaluation here we’ll help you answer this first important question.

Are my finances and taxes in order?

Ensuring that your finances and taxes are in order and up to date is an important step when looking to buy a home.  Mortgage rules change over time and requirements for documentation are always fluctuating. Having a good mortgage broker on your side is key.  We partner with excellent mortgage brokers who can help you prepare for your mortgage financing with ease.

What can I afford?

When it comes to upsizing, the cost of a bigger house will likely increase from what you’re currently paying. Obvious increases like a higher mortgage, insurance and taxes will need to be considered. Other expenses such as increased utilities, maintenance, and renovations also need to be considered.  Having a look at what you’re currently paying in these areas and analyzing what you can afford is a key step.

Moving up to a bigger home is an exciting venture! Gaining space, the amenities you’ve been dreaming of, and just a little bit of breathing room, is a beautiful thing. Before you jump in and start searching, spend time upfront and dig deep to figure out what it is you want for yourself and your family in the foreseeable future. Finding that forever home that can grow with you may take a bit more time and effort, but it’s worth it in the end. When you work with The David Bradica team, we take you through a guided, step by step approach, which we call the Buyer Blueprint. We’ll help you through each and every stage of the process. Reach out and we can help get you into your dream home sooner than you think!

If you’re ready to find your forever home, reach out to book your home evaluation…you may just be sitting on more than you think!