How do you choose the right home, the best strategies and tactics to serve you today.
Are you just starting off to look for homes?
Or maybe you've been looking for a while but haven't found the right one that's the best
fit for you.
Maybe it's location or the style of home.
So for example, you don't know if you should be in a town home or a single family home.
Well, as a realtor since 2012 I've helped hundreds of people buy their home and I get
this question all the time:
"How do I choose the right home for me?"
What it comes down to is knowing your: WHY, why are you buying this place?
What purpose is it going to serve, what problems is it going to solve, and what goals will
it accomplish?
If you thought of some of these things, then you are already a step ahead and if you have
throw it in the comments below because you never know.
If someone else reading your comments might find some inspiration from it or get ideas
and I would love to hear from you too.
I'm going to give you four tips to consider when coming up with your why and my goal is
by the end of the video, you're going to walk away with a crystal clear picture of the home
that you want to buy.
Now, if you do have this clarity, then the home that you buy is going to serve a greater
purpose for you and your family.
Now I do have a bonus tip at the end, so you want to make sure you stick around for that.
So let's get started.
Tip number one: Consider your lifestyle.
Now, what kind of lifestyle do you want? A nightlife?
You want to be more social?
Do you want peace and quiet maybe, or do you like the active lifestyle?
Maybe you want to be close to nature with parks and pathways and the river.
Do you want a walkable lifestyle, maybe a bikeable lifestyle.
These are all things that will help determine what kind of lifestyle you want and essentially
help you figure out which location you want to be in.
Tip number two: Amenities.
Now, what kind of amenities do you want close by?
Is it maybe a grocery store or a gym or something else that you go to quite often?
And how far of a distance do you want it to be?
Do you want it walking distance and if so, five minutes? 10, 20 minutes?
And if it's driving, then how long do you want to spend driving to get there?
People have preferences because as we get older, time becomes more precious.
So you want to make sure that you're in a location with the amenities that you want
to be close by.
Tip number three:
Now, based on your lifestyle, the location will be a little bit easy to figure out because
it's really based on the lifestyle that you want to live.
Now, some people might be contemplating, you know, I want to be closer to work.
Or should I closer to friends?
Well the thing is with work, it's somewhere you go to five days a week.
So you have to consider, well, how often do you see your friends?
Is it maybe once or twice or maybe three times a week?
If so, it might be worth being in a location where you go to the most, rather than everything
else.
And another consideration is maybe you have a young family and you want to be closer to
your parents because they come over and babysit your kids.
Well you want to make it easier for them as well too.
So maybe it's about finding a middle ground between where you go to the most like work
and and another location that's convenient for all of your other lifestyle needs.
Tip number four, consider what the next five to 10 years look like.
Now your next home will definitely meet all of your current needs for today.
But what about for your tomorrow?
What about the next five to 10 years?
Because this is a home that you will be growing into.
And if you're going to be starting a family in this home, then what are your needs going
to be in the next little while?
Now do these tips make sense and help in determining your why?
Throw me a yes or no in the comments below.
So here is my bonus tip and it comes in a form of a question.
Let's just say that you just got made or you even have young children.
What is your plan to help your children buy their first home?
Would you keep it as an income property?
This could help supplement your retirement, pay off kids' tuition and or provide a large
sum of down payments for their first home.
As a mortgage broker, since 2010 I've helped a lot of people buy their first home and it
was never possible without the help of mom and dad.
Who knows where real estate prices
are gonna be in 20 to 25 years?
It could be quite unaffordable.
I mean, if you are gifted $100,000 to buy your first home, don't you think that would
put you in a pretty good position for the rest of your life?
Now, there's a fine line between buying a home and an income property because what you
look for in those types of homes are very, very different.
But, you can buy something where you could do renovations and turn it into an income
property later.
Now that you have this great idea, then maybe what you want to do is scale down on the purchase
price of your home so you can use those extra funds to buy an income property for the future.
There will be a sacrifice on the lifestyle part, meaning you might not buy in the location
you want.
You might not get the house you want with all this shiny and new things, but what you
will have is a legacy to leave for your children, more money for retirement or just an increase
in your net worth.
That wraps up how to choose the right home.
Now hopefully this has given you some tangible information and help given you some clarity
on how to choose your next home.
If income property is something that interests you, make sure you hit the subscribe and the
notification bell down below so you know when I'll be coming out with real estate investing
videos, I've made some mistakes with income properties before and I want to be able to
share my lessons with you so that you don't make the same mistake.
Now that you know how to choose a home, you should be aware of what the costs of buying
a home will be.
That's going to be my next video.
So again, hit the subscribe and the notification bell so you know when that video comes out.
My name is Felix Chan with LiveInncerCity real estate team helping you keep real estate
simple.
We'll see you in the next video.