What to Look for When Buying a House

✅ The condition of the home

Ideally, you’ll have time to hire a home inspector to identify any problems with the home you’re interested in. If not — or even if you do — try as best you can to check the following before you make an offer.

☐ Heating, ventilation and air conditioning (HVAC). What systems are in place and when were they last repaired or replaced.

☐ Electrical and plumbing. How the home is wired may impact your ability to get home insurance. Try to avoid knob-and-tube wiring. You’ll also want to check all the faucets to ensure there’s hot water and adequate pressure.

☐ Roofing. Are there any obvious signs of damage? Ask the seller when the roof was last replaced.

☐ The basement. Is it finished? Has it ever flooded?

☐ Odours. Smells can be a huge red flag. Cigarette smoke can take months to get out. If you smell mildew, that might signify moisture issues or mold.

☐ Structural integrity. What condition is the foundation in? Are there any visible cracks? Eyeball the home to look for any crookedness or wonky corners, which could signal foundation issues.

Don’t worry as much about cosmetic features — paint, carpets, cabinets or lighting fixtures — since they’re easily replaceable. Focus on these major components, which can cost a ton to repair.

✅ Home features

Your home-buying checklist should include all the features you want in a property, including:

☐ Type of home Detached homes offer more space than townhomes, but they also typically cost more. Condos are generally smaller than houses, but you get some amenities included.

☐ Interior size. How much space do you need to be comfortable? Do you have specific space requirements related to working from home or expanding your family?

☐ Layout. Beyond the number of bedrooms and bathrooms, you should also consider the actual layout. Having oddly shaped rooms or walls that make the flow of your home awkward can affect your enjoyment.

☐ Lot size. Some people will value outdoor space more than others, especially if you have kids or pets. That said, having outdoor space like a lawn means more maintenance and a higher sale price.

☐ What’s included in the sale price? Will you get the appliances or any other items that were visible when you viewed the property?

☐ Storage. Do you want a lot of closets or need a basement? Do you prefer a garage that fits two cars? If you’re buying a condo, does the unit come with a storage locker and/or parking space?

☐ Patios and decks. Find out how much maintenance these add-ons might require, and when they were last stained or updated. If you’re buying a home with a deck in the winter, be sure to get a clear idea of what the snow might be hiding.

☐ Energy efficiency. Has the seller used green home grants to make improvements that might reduce resource consumption, shrink your carbon footprint, or provide better air or water quality? Quite often, home features are where you’ll have to compromise. Incorporating must-haves and nice-to-haves into your checklist can help you evaluate a home more quickly.

✅ Location

When two homes offer similar features at similar prices, location often becomes the deciding factor. Rate a home’s location by looking at factors such as: it comes to real estate, the saying is location, location, location. This shouldn’t be a huge surprise since many people want to live where it’s convenient. Proximity to amenities and transit are important but there are other things to consider when it comes to location.

☐ Transit. How long will your daily commute be? Are there public transportation options nearby?

☐ School zones. Having close access to a school is always a priority for parents. It’s important to check the school zones before you put in an offer, as high-density areas may split up your home school zone based on your address.

☐ Safety. Most local police services will have a map available so you can search past crimes in the area.

☐ Neighbourhood. Ensure you’re happy with the surrounding community. Look for ease of access to grocery stores, restaurants, green space, playgrounds, places of worship and medical services.

☐ Neighbours. Who are you sharing your immediate space with? Are there student rentals, Airbnbs or “party houses” next door that might impact your quality of life?

☐ Future development. Are there any infrastructure projects planned for the immediate area that might limit access to your neighbourhood or lessen your quality of life?

You can never learn all the details about every neighbourhood. Ask your real estate agent about anything you’re unsure about. You may also want to ask them about any similar areas that may be a good fit.

✅ Future potential

The home you buy today might not be the one you live in a few years from now. You might move sooner than expected, or radically transform it into something completely new. Keep the following in mind when evaluating a home’s potential:

☐ Upgrades. Can you renovate a less-than-ideal property into your dream home? Can you do this yourself or will you have to hire professionals?

☐ Zoning bylaws. What changes are you allowed to make to your new property? Can you subdivide your lot, build a laneway house or put in an income-generating suite?

☐ Resale potential. If you decide to sell your home, will it generate enough interest to sell easily?

☐ Evolution. Is the property equipped to keep up with changing needs like a growing family, an in-law moving in or starting a new at-home business?

✅ Ongoing costs

Getting a mortgage is really just the first of many costs you’ll incur as a home buyer. Make sure the following costs fit into your remaining budget:

☐ Heating and cooling. These costs will vary based on use, but it can be helpful to find out what a home’s current owners pay to keep their home comfortable.

☐ Property tax rates vary widely by location. Since you’ll be paying this recurring fee as long as you own the home, you may want to have a rough idea of what this tax bill will look like before deciding on a location.

☐ Insurance. Buying home insurance will be mandatory if you’re getting a mortgage.

☐ Commuting costs. Whether you’re driving or taking public transit, how much can you afford to pay each month?

☐ Maintenance. Can you afford to maintain a pool or extensive yard/garden? If you’re buying a condo, are the maintenance fees acceptable, and are there any special assessments due in the future?