Like Location – What type of home you buy will be based on your personal needs and your budget. There is no absolute right or wrong here either.
Let’s talk about budget first – remember Step 1 of the First Home Buyer Guide. Generally speaking, as space, uniqueness and privacy (as in less shared walls) goes up, so does price. Budget is definitely a limiting factor when choosing the style of home to buy. If your budget is small, a condo may be your only option. If you have a larger budget, you will have more options.
Either way, you need to think about your needs and here are some thought starters for doing that:
- How will you use your home – are you loud or quiet, do you run your business out of your home
- Do you like to entertain, what is your personal style
- Do you want a garden – do you just require outdoor space, like a balcony or patio, or do you want a backyard or a lawn
- Parking – is parking required, indoor or outdoor, what about a garage
- Number of bedrooms – what is the size of your family, do you want to have a spare room, and/or an in-home office/work space
- Number of bathrooms – how important is an ensuite, do you want a separate shower
- Safety and security – do you prefer the security of a building
- Do you have pets – how many and how big are they
- Are you handy – how do you feel about home maintenance, do you want a fixer upper or a place that is all done
Going through your needs should point you towards either a condo or a house (detached, semi or town). Now that you know what you’re looking for, where and how much you’ve been approved to spend – its time to call in your team – Click here to move to Step 5 of the First Home Buyer Guide – The Team.
*Note: technically, condo is short for condominium which is really a form of ownership not a house style. I don’t want to be confusing, but here when I say condo I mean an ‘apartment style’ condo.