Factors to Consider When Deciding the Location for Your New Home

A house is just a shelter, but a home is what you make of that house. Buying a house is the most significant investment you’ll make. You have so many factors to consider when you’re looking for the perfect home. One of the most important things to consider is the location for your new home. Choosing the right location for your new home is important because it affects many aspects of your everyday life and the value of your home in the future. 

Here are the factors to consider when deciding the location for your new home:

1. Affordability

Affordability is a decisive factor when it comes to buying a new home. You should keep in mind that not every community will be in your budget. So have you determined what your budget is? It’s very important to determine what you can afford.

Your main concern when buying a house is being able to live comfortably and within your means. You would need to consider everything from closing costs, upfront fees, housing expenses, and the price of gasoline and consumable goods. 

2. Commute 

Maybe you own a business that has ATVs for sale, sell custom t-shirts, or provide drain cleaning services, so you have the luxury of working from home. But, if you don’t then you would definitely want to consider your commute to work. The amount of time it takes you to get to work or an office space and back home can be a determining factor in your decision when deciding the location of your new home.

Your commute to work can have a significant impact on the amount of time you can spend with your family. In addition, even if you own a car, you should also be considering if the location of your new home is nearby a reliable network of public transportation. This could help you save the time and stress of driving to work and back home, as well as save you money on car maintenance and gasoline consumption. 

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3. Healthcare Facilities & Services 

Do you have young children or a family member in the family that fall sick often and require recurring medical attention? Even if you don’t, it’s better to be within a reasonable driving distance to an emergency room in case something happens to one of your family members. Access to nearby healthcare facilities such as hospitals, nursing homes, and drug stores and pharmacies, as well as healthcare services such as a dentists, optometrists, and pharmacists should be an important factor to consider when deciding the location of your home. 

4. Schools

If you have young children in the family, you’ll want to consider if the location of your new home has access to good schools. You should be asking yourself questions such are there public or private schools nearby and are my kid(s) able to walk to school? Even if you don’t have kids, school districts are important features for a community. Living in popular school districts will increase your home’s resale value if you plan to sell your house in the future. 

5. Convenience & Amenities 

What do you want to have close access to? Do you want to have close access to a gym, park, mall, banquet hall, or grocery store? Or maybe you want to live in an area that’s near the best shawarma or the best Italian restaurant in the city? You should consider if it’s a necessity to be close to shopping and restaurants because some people don’t mind driving 15 or 30 minutes to get to a grocery store or their favorite restaurant. 

6. Proximity to Family & Friends 

Is being close to your family and friends important to you? Maybe you have a large extended family and you love spending the holidays with your family and friends. If this is the case, you should buy a house that is within driving distance to your family and friends. 

7. Crime & Safety 

It’s important to feel comfortable where you live because no one wants to live in an area that’s known for criminal activity. Do your digging before you decide one the location of your new home by asking the previous homeowner or your real estate agent. 

About AWealth 

Financial Advisor focused on financial management in Mississauga, ON. Specializing in financial services: Investment, Insurance, and Mortgage to suit your investing goals, retirement goals, and financial needs. 

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