Location, location, location. The number one rule in real estate and in the perfect world, the mantra you should be adopting so that you have the right house in the right location. This investment naturally sees a ridiculous financial return, all the while your neighbours watch your dog/cat at your beck and call and they deliver freshly baked cookies every Sunday. Now back to reality. While location is of course, hugely important, there are many other factors which you need to be considering when renting, buying or investing. Read on to discover the key areas that you need to be on top of, if you’re serious about your next move.
Getting your finances in order
It’s a dirty word but if you’re serious above your next move, you’re going to need some of it. Money. Not necessarily huge amounts, but enough to either get that first rental deposit down, or 20% of that mortgage. If this is filling you with panic, relax. It’s never too early to start your savings plan and you can learn more about this and how mortgages work at BMO – my bank of choice. The biggest advice I can give you is to wise-up on all things financial. There’s no need to be ignorant with this much information at your fingertips. So what’s holding you back?
Location Location Location
We know how important location is, but we also know that what we don’t know, we don’t know. Did you know, for instance, that Toronto is considered as “the city of neighbourhoods”? With over 140 neighbourhoods across the city, you are bound to find the right spot for you. A huge benefit of renting is that you can immerse yourself in a neighbourhood and move on when it’s no longer doing it for you. Having this much flexibility is not to be sniffed at, and I’ll cover the pros and cons of renting versus ownership in a future post. But for now, get inspired and learn something new about your city. Check out the inspirational blogTO and prepare to learn something new about Toronto!
So you’ve got your finances in order, you know where you’d love to live, now you need to start looking at real estate. My guess is that if you’re anything like me, you were doing this way before looking at your finances. Some may view this as impractical, I prefer to view it as motivation. And the best place for you to focus this motivation? By viewing the largest multiple listing site in Canada, Realtor.Ca. From condos to houses, renting to buying, East to West – this site has it all covered. And anyone who is anyone is featuring their stock on this site, so stay ahead of the curve and download the app so that you can keep abreast with the market.
Congratulations on the move! Crack open the Prosecco and get ready for the real work to begin. Whether you’re renting or buying, the likelihood is that a small reno is in order. Stuck for ideas and unable to see past the avocado bathroom and woodchip wallpaper? Fear not. That’s what Houzz is for. Prepare to be truly inspired by this gorgeous site which pulls together beautiful homes and rooms, and helps inspire you to create the home you’ve always dreamed of. It’s like having your own interior designer, without the fees. What’s not to like?
I hope these points have got you thinking about real estate and taught you something you didn’t already know. If there are other sites you think will add to those covered here, please get in touch – I love to be inspired!
Image source: http://sellatlantahome.com/blog/