When buying a home for the first time, it is important that you choose the right location. With a bad location, you may have to move too soon and spend a lot of money to do so.
Live close to work
When choosing a location, the first thing you need to consider is the proximity to work. As well, can you go from two cars to one car? That alone would save you 9000 dollars a year, which when you equate to how much buying power you have, that represents tens of thousands of dollars in more buying power; basically, the difference between a semi-detached home and a single home.
Consider the school
The next thing you should consider is the proximity to schools. If you choose a neighbourhood with schools that have a good reputation, most likely your children will keep you from moving too often. Basically, they will forge relationships and friendships with other schoolmates and will not want to move.
Look a variety of homes
Choosing a neighbourhood with a variety of homes is important, because when you decide to move – and most probably you will move when your family grows – you will be able to stay within the same neighbourhood.
Neighbourhoods with a variety of homes, such as townhouses, semi-detached and single homes will allow you to move within the neighborhood itself and not disrupt your daily or weekly routines, such as schooling, shopping and leisure activities.
Look for fewer “for sale” signs
You want to choose a neighbourhood where people are not selling and moving out in big numbers, because that means they like living there. If they like living there, likely you are going to like living there.
On the economic side, if your house has been offered for sale, that means the demand will be high, prices will increase, and your investment will be well protected.