Home prices have been rocketing upwards at historic speeds since the start of the pandemic, with average prices in Toronto peaking over $1,163,323 as of December 2021. If you are looking for your next family home, daunting figures like these might be your only focus.
At Northwood Mortgage™ , however, we believe that your search should be based on more than just price. That’s why we have put together this list of what to look for when buying a family home:
- Is the house the right size?
- Is the neighbourhood a good fit?
- Do you have the right team supporting you?
As recent events have forced us inside more than we ever expected, let’s begin with the factor that has become most pressing.
1. Is the house the right size?
The pandemic has demonstrated—for better or for worse—that homes can be so much more than living spaces. For those of us working from home, they can be office places. For those of us attending school virtually, they can be classrooms. For those of us who have contracted COVID-19 and had to self-isolate, they have also become clinics.
Until the pandemic subsides and life returns to something like normal, the home you buy will have to be large and versatile enough to accommodate a variety of scenarios. How that will look depends on you; regardless of your answer, though, this question must be top of mind.
2. Is the neighbourhood a good fit?
Neighbourhoods are fundamental to life in any community, whether you live in a rural area or the dense core of a city. Each offers unique advantages, depending on your needs, but they can also offer distinct opportunities, too.
High walkability scores indicate that the neighbourhood is made up of close-knit residences with nearby schools, restaurants, parks, and other amenities. If you lead an active lifestyle and wish to spend less time in traffic, choosing a home in an area like this would be ideal.
Meanwhile, families that put a high degree of emphasis on academic achievement will want their homes near the best schools. Neighbourhoods near major financial centres and universities will be more likely to boast such educational benefits.
3. Do you have the right team supporting you?
Navigating your mortgage options is difficult in even the best of times—and downright frustrating during a pandemic. More than ever before, having access to experienced specialists and advisors is critical to getting the best rates possible.
At Northwood Mortgage, we pride ourselves on putting our clients first. We will make sure that you get the lowest rates and greatest value possible when you apply for a mortgage.
Unlike our competitors, we aren’t tied to any one bank or financial institution. This means you will be getting solid, unfiltered, and unbiased mortgage advice. You may even receive rate offers not available to the public.
Most important of all, you will be getting support from a team that is committed to matching you with the right home for the right rate.
Don’t wait any longer. Your search for the perfect family home begins when you call Northwood Mortgage, your mortgage broker in Toronto, at 888-495-4825. You can also contact us online here.