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First Time in Real Estate ~ Stage 2: Criteria


Blog by Frank Ingham | January 5th, 2018


THE WORLDS BEST INVESTMENT STORY BY DAN KOPF

SUCCESS IN REAL ESTATE FOR FIRST TIMERS 
A Series of Six Important Stages to Understand

Stage 2:
Criteria

With an appreciation of what you can afford, it is now time to determine your needs and wants and how they fit within your home purchase price range.

 

  • Consider your current lifestyle and more importantly, any lifestyle changes you foresee.
  • Consider the reason for the purchase such as long or short term investment, income generation, primary home for the next 10 years, starting a family, kids starting school etc.
  • Decide on the property type that suits your current situation – condo, townhouse, single or multi-family dwelling, acreage.
  • Select the urban, suburban or rural location options that you feel will best serve your lifestyle needs.
  • Choose neighbourhoods in close proximity to the services and amenities that are most important to you such as schools, shopping, job opportunity, health care, child care, entertainment, outdoors, recreation, and transportation.
  • Consider your commute times to work, school, friends and family.
  • Determine the size of home you require, such as the minimum number of bedrooms, as well as any other space requirements like a home office or rec room.
  • Define other home features most important to you such as a larger yard, garage, flex space, newer or older home.

I can help you validate your needs and wants in light of current market conditions and provide you with the tools and resources that will result in a successful property purchase. To learn more, read these other related posts or contact me anytime.

Stage 1: Financing
Stage 2: Criteria
Stage 3: Home Search
Stage 4: Viewing Homes
Stage 5: Making An Offer
Stage 6: The Closing Details