Where to start when looking for your first home?

1. 1
Location
Price
How do you determine
price?
Well, look at two things:
down-payment,
And
monthly carrying cost.
What can you afford to
put down on the
property?
If you let price dictate
location, and you know you
can only afford
$250,000, then you have to
shy away from downtown
and consider looking north
of 401, or east of DVP. If
you think “it’s all the
same, and you don’t mind a
long commute to
work, then you can afford a
bigger place, or maybe a
house instead of a condo.
2
Parking
(for houses, skip this point)
A parking space in a downtown Toronto condo starts around
$28,000.
The value in a $30,000 parking space is that it can be rented
out for $150/month, every month, as long as they own the
condo.
3
Style
Some buyers can’t stand the stone-and-stucco houses and
maybe these buyers demand a classic red brick
house. Maybe they want a classy, century-old Victorian. If
so, this will bring them back to Location since Victorians
aren’t found in more than a handful of areas in Toronto.
With condos, decide whether you want a loft or an apartment
first and foremost, and whether you want a new building or if
you’d accept something 10+ years in age.
4
Features
Consider out-door space, age of roof, condition of
garage, porch, driveway, etc.
6
5
Layout
Building Amenities
7
(For Condos). Gym, sauna, rooftop
terrace, concierge. Do you value these things?
Finish