To move or not to move: that is the question.
Here are five things to consider when contemplating a move.
1. Location! Location! Location!
For many buyers, location is king; you could find the perfect home that meets all your criteria (and more!) – but if it’s not in your preferred neighbourhood, you may not even consider it. It’s vital to consider what an area has to offer. Consider which features you love in your current neighbourhood – and which features you wish you had. One of your “must-haves” might be that your new home must be within walking distance of your present residence, in which case availability of homes in your area will dictate your decision to move.
If you have kids – or if you plan to – schools can be a big consideration when relocating. From public to separate to private, or to a specific school, there are a plethora of options. Timing is of course important with respect to the school calendar: if relocating will necessitate a school change, moving between semesters or during the summer break may be preferable. But even more important is location; in terms of transportation, walkability, and eligibility to attend a school, proximity is vital. But beware: living in a school’s catchment area may not ensure enrollment if a school is over capacity. If a specific school (or proximity to a school) is important to you, contact the school administration before buying.
It’s no secret the housing market – unlike Calgary’s weather – tends to be hottest in the spring. When inventory is high, you have a greater chance of finding your dream home. That said, your next home could be listed any time of the year – you just need to be looking for it! When you start thinking about relocating, consider contacting a realtor, who can send you current (and new) listings that meet your criteria.
This point might seem obvious, but the cost of moving encompasses far more than the cost of the house (and its associated mortgage). You also need to consider closing costs (realtor fees, lawyer fees, etc.) and other related moving costs such as hiring movers and/or a moving truck. Property taxes, utilities, and homeowner association fees may also be determining factors. There are also more obscure costs to consider, such as transportation – and even time! As the saying goes, time is money; if the property will require a lot of time to maintain, that could be an additional cost.
5. Mortgage Rates
Mortgage rates play a big role in determining whether you should purchase real estate. That’s where we come in! From helping you decide whether to choose a fixed or variable rate to helping you navigate the refinancing process, we can help secure the best rate for you. Contact us today!