Finding the perfect place to call home is about more than just the house itself – it’s also about the neighbourhood. As a homeowner, your community will have a big impact on your quality of life. So, you’ll want to really think about your options before deciding where to settle down.
If you’re house hunting in Toronto, you’ve got a ton of selection to choose from. From the bustling vibrancy of downtown neighbourhoods like King West to the laid-back charm and convenience of Cabbagetown and Riverdale, there’s a community for everyone.
With that in mind, finding the perfect neighbourhood for you can be a journey – especially in a city that has over 150 of them. As local real estate agents, we’re here to help!
In this blog, we’ll share our best tips for choosing the right neighbourhood for you! Let’s get started.
Know Your Budget
If you’re planning on buying a house, you’ll need to know what you can afford. This means creating a well-thought-out budget. On its own, this step isn’t the most exciting, but it helps find out which neighbourhoods will work best for you.
One simple way to get a sense of what you can afford to spend on a house is to apply for a mortgage pre-approval. During this process, the bank looks over all your finances and decides what they’re willing to lend you for your home. Once you have this number, you’ll be able to house hunt with confidence.
Buying a home soon? Explore these related blogs for more advice.
- What Happens on Closing Day?
- Red Flags to Look Out For When Buying a Home
- What to Know Before You Buy Your Second Home
Think About Your Commute
Another important aspect of choosing the right neighbourhood is location. Most homeowners have some kind of daily commute, whether that’s to work, school, or somewhere else.
You’ll want to factor this into your search for the right neighbourhood. Think about how far you’re willing to travel every day and your preferred mode of transportation. Let’s say you’ll be driving everywhere. Finding a neighbourhood that’s close to major roadways and highways will make your life a lot easier. On the other hand, if you plan on commuting by transit, you’ll want to zone in on neighbourhoods that are close to bus routes, streetcars or the subway.
Outline Your Needs
It’s time to think about your practical needs as a homebuyer. What size house do you need? What types of amenities and essential services do you want close by? Is it important to be close to parks and green spaces? Do you want to live somewhere pet-friendly?
These questions may seem basic, but they’re a great starting point. The more specific you are about your ideal home and lifestyle, the easier it will be to find the perfect community.
Look to the Future
You may have a solid idea of what you need from your next home and neighbourhood. However, it’s also important to think ahead. This is especially important for parents and families.
For instance, if you don’t yet have kids but are thinking about growing your family in the future, you’ll want to find a community with great schools. Identifying this need preemptively can help you avoid the stress of trying to move again in just a few years time.
On the other hand, let’s say you’re approaching retirement in the near future. Depending on how you plan to spend your next chapter, maybe you’d like to be close to the airport or train stations, making it easier to travel and explore the world.
Ask an Expert
Finally, if you’re looking for neighbourhood recommendations, you can always ask an expert. More specifically, a local Toronto real estate agent.
Helping homebuyers find their perfect community is a big part of what agents do. Even if you aren’t quite ready to start your house hunting journey just yet, they’ll gladly make a few personalized recommendations based on your budget, commute, needs, and plans for the future.
Looking for more home-buying insights? Consider these other posts from our blog.
- What Should First-Time Buyers Know About Home Insurance?
- Can You Buy a Home Without an Agent?
- How to Improve Your Credit Score Before Buying a Home
Take Yourself on a Tour
You can find a lot of great insights about Toronto’s best neighbourhoods online, including our selection of local community guides. However, there’s truly no substitute for exploring communities on your own.
Once you have a list of recommended neighbourhoods, it’s a good idea to check them out in person. Spend an afternoon or evening driving and walking around each neighbourhood. Soak up the atmosphere, check out a few local businesses or restaurants, and try to get a feel for the overall vibes of the area. This will give you an idea of what your everyday life could look like should you move there.
Ready to Find Your Dream Home?
Searching for a real estate team that can help you find the right home in a great neighbourhood? Look no further. Bosley Real Estate has helped Canadians find the perfect home for close to a century. Today, our advanced buying systems, client-first approach to service, and vast industry relationships can help you build a thoughtful home-buying roadmap, leading to a smooth and successful home purchase.
Ready to buy your next home? We can help! Give us a call at 416-322-8000 or email info@bosleyrealestate.com to get in touch.
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