
1. Location
Ensure the property is conveniently located near work, schools, and essential amenities. Research the neighbourhood’s safety, atmosphere, and additionally, research future development plans to understand how the area might change over time, as this can impact both your quality of life and the property's value.
2. Condition and Layout
Inspect the property's structural integrity, plumbing, and electrical systems. Check for adequate space to meet your current and future needs and consider how features like outdoor areas can also significantly enhance the property's appeal.
3. Costs and Budget
Look beyond the purchase price to include property taxes, insurance, utilities, and potential renovations.
4. Neighbourhood and Amenities
Visit the area to evaluate its noise levels, community vibe, and nearby amenities such as parks, schools, and shops. A vibrant and welcoming community can enhance your day-to-day life and increase the property's long-term value.
5. Resale Value
Even if you plan to live in the property for years, it's wise to consider its resale potential. Look for features that are consistently in demand, such as a good location, ample parking, and modern upgrades. Properties in up-and-coming neighbourhoods or those with flexible spaces—like a home office or a potential rental unit—often offer better long-term value.
