These articles were posted by the Canada Mortgage and Housing Corporation (CMHC). They provide research and resources for mortgage and housing related topics and offer advice and tips for consumers.
This is a 5 article series on the process of becoming a home owner. All articles and media were taken from the CMHC website.
Step 3 - Which home is right for you?
Once you have a good idea about your finances, you’ll need to think clearly about the home you’d like to buy.
Try to buy a home that meets most of your needs for the next 5 to 10 years, or find a home that can grow and change with your needs.
Here are some things to consider.
How many bedrooms do you need?
How many bathrooms do you need?
Do you need space for a home office?
What kind of parking facilities do you need? For how many cars?
Do you want air conditioning? If so, what type?
Do you want storage or hobby space?
Is a fireplace or a swimming pool high on your list?
Do you have family members with special needs?
Do you want special features to save energy, enhance indoor air quality, and reduce environmental impact?
Lifestyles and stages
No matter what type of housing you choose, you must have a clear idea of your needs today, as well as your possible future needs. These are some examples of questions homebuyers might ask:
Do I plan to have children?
Do I have teenagers who will be moving away soon?
Am I close to retirement?
Will I need a home that can accommodate different stages of life?
Do I have an older relative who might come to live with me?
The CMHC worksheet Home Features Checklist can help you think about what you need today, and what you may need in the future. Complete the worksheet and print it.
CLICK HERE TO READ THE FULL ARTICLE Review your options and learn how to choose a home and neighborhood that is right for you and your family.