House Hunting with a Forward Thinking Mindset

House Hunting with a Forward Thinking MindsetAs you begin the search for your new home, making a detailed list of what you need is key. One area many buyers neglect during the house hunting process is a forward thinking perspective. If you're not keeping your future in mind, you may end up buying a home that is ideal for you now but ends up standing in the way of your goals in a few years. 

If you're looking to buy a home in Oakville, here are some things to consider that will allow you to keep both the present and the future in mind as you choose the right one for you. 

Why Think About the Future?

None of us has a crystal ball or the ability to completely predict the future. Anything can happen, right? So why does it matter to be future-focused when you're house hunting?

Bill Gassett of Maximum Real Estate Exposure, provided thought provoking tips based on his many years of experience in the real estate industry.

"Over the years, I have met with many potential sellers who did not make the wisest home buying decisions. They spent far too much time romanticizing over the home and not enough time thinking about the area in which they were purchasing. I like to call this the "shiny object syndrome". This house is awesome but the town or neighborhood is far less desirable.

What buyers need to remember is location is vital when it comes to resale. In most of the circumstances, the owner's future plans included having children but the community they bought in wasn't the best for that. The house was great but the school system wasn't.

On a few other occasions the owners quickly outgrew the property due to having kids. It reinforces the importance of thinking about your long-term goals when buying a house.

I recommend my clients think about where they will be in five to ten years as far as their needs and wants. It makes them think more constructively if they are making the right buying decision."

Changing Needs

To plan for the future, consider these common needs that change over time and whether they might become relevant for your household in the next 5-10 years. 

A Growing Family

Do you expect to grow your family in the next few years? As much as you're able, try to predict what type of home you will need to accommodate these changes. Ensure the home has enough bedrooms and living space to accommodate potential family growth. Consider the safety features and layout for young children, such as secure staircases, childproofed areas, and fenced yards. Also pay attention to the distance from the home to your preferred private schools and preschools, or the public school district in the area. 

Career Changes

If you are at the beginning of your career or are planning to make changes soon, like starting your own business or working from home, you need a home that has the flexibility to work with you. For example, career changes may impact your income or the office space you need. Make sure that your home is not an inhibiting factor if you'd like to make a career change in the future. 

Location and Lifestyle

The location of the home you buy is just as important as the property itself. When you're considering a home, take the time to take a look at the neighbourhood and how it suits both your current lifestyle and any future changes you anticipate. 

Assess the commute to your workplace, including how your commute might change if you know a change in job location is forthcoming. Check out nearby amenities like grocery stores, hospitals, parks, and recreational facilities. Consider the neighbourhood's character and community vibe, and how it aligns with your own lifestyle and values. 

Resale Value

Thinking about selling the home when you haven't even bought it yet can feel a little strange, but considering resale value is key to making a smart investment. We can help you consider whether this is the type of home that will likely sell well in the future, based on the home itself and the surrounding location. 

Be aware of planned developments or infrastructure projects in the area that could affect property values, positively or negatively. We will help you investigate the local real estate market trends. Areas with steady or rising property values are better investments.

Maintenance and Renovations

Finally, some buyers find themselves regretting their choice because they bought a property with vague plans to fix it up in the future. Unless you are ready with a specific plan to take on an older home and renovate, buying a property that is in need of significant maintenance and remodeling can be a mistake. 

Be careful not to overestimate how much maintenance and remodeling your future self is ready to take on. Always pay careful attention to the home inspection report to identify any potential issues that could require costly repairs, and check the age and condition of major systems like the roof, HVAC, plumbing, and electrical.

House hunting in Oakville doesn't have to be overwhelming. We are ready to help you find houses for sale in Oakville that meet your needs, so contact us any time to get started. 

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