When buying a new home, you likely have a wishlist in your mind of all the features you’d like to see. Maybe you’re dying for an open-concept kitchen with a huge centre island and a pot filler on the stove. Maybe you covet a main-floor laundry room or those stunning herringbone pattern floors throughout.
Whatever is on your must-have list, there’s actually one aspect of your new home that should eclipse all other features. Can you guess what it is?
Location, location, location!
There’s a reason why this is a real estate cliche. It’s absolutely, hands-down the most important aspect of your next home. Let’s explore why.
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Every Other Aspect of the Home Can Be Changed
Maybe it doesn’t have to be as drastic as the time Trading Spaces filled a family’s living room with sand because they loved the beach, but almost every aspect of your home’s interior can be changed if you really want it to.
Carpet can be replaced with gleaming hardwood, lighting fixtures, appliances, and even the layout of your home can change if you have the budget and time for the project. When it comes to curating the perfect home interior, the sky is truly the limit.
On the exterior, the home can be painted, windows replaced, the backyard can be landscaped, you name it.
However, the one thing that can’t change is the location. You never see people pick up a home and move it to a different lot. (Unless it’s one of those super cute tiny homes, and even then, it looks like something you don’t want to do often!)
If you’re looking to buy a new home in your ideal neighbourhood and the only thing holding you back are some of the interior or exterior home features, consider making a compromise and planning a few renos in the future.
Planning your next home purchase? Read these homebuying tips next:
Your Neighbourhood Should Match Your Personality and Values
Most people feel an innate connection to their neighbourhood. In Toronto specifically, it’s common for people to have preferences. Personally, I have a soft spot for Fort York from back in my condo-dwelling days, but today I identify wholeheartedly as a Wallace Emerson resident (represent!)
The wonderful thing about Toronto is the fact that we have such diverse neighbourhoods, no matter what your interests are, there’s a ‘hood for you. Do you love going to shows and dining out? Consider The Entertainment District. Are you a modern-day hippie who loves oat milk lattes, natural wine, and supporting local shops? Try Roncesvalles or Little Portugal. Are you looking for a great neighbourhood to raise your family? Consider Riverdale!
These are only a few examples of how your ideal Toronto neighbourhood speaks more about where you live–it’s also about who you are!
Do you love Toronto as much as we do? Learn more about some of our favourite neighbourhoods right here:
Think about the businesses and services you frequent. Maybe it’s the absolute best hair salon in the city. Maybe it’s a speciality grocery store that carries your go-to brand of cottage cheese (it’s making a comeback!) Maybe it’s your kids’ preschool with the loveliest teachers or it’s the park where you like to walk your dog.
Now think about how you would feel if those amenities were not close-by. Think about having to drive to get your favourite green smoothie or not being able to enjoy your walk to yoga class on Saturday morning.
Unless you’re prepared to change your lifestyle and habits, you can see why choosing a home based on location is more significant than choosing a home based on aesthetics.
Consider your day-to-day activities and how that might change if you move to a different neighbourhood.
Consider the Trajectory of the Neighbourhood
We’ve all seen it before in real estate listings. The phrase ‘up-and-coming’ neighbourhood. This is typically just real estate agent jargon, but it does raise an interesting point! What exactly is an up-and-coming neighbourhood? And how do you find one?
One of the main benefits of buying a home in an up-and-coming neighbourhood is that prices and demand might be lower than you would see in highly sought-after areas. However, if you make a savvy choice and buy in a neighbourhood on the cusp of becoming popular, you could benefit from increased property values down the line.
Look for developing neighbourhoods. Maybe the area is getting new transit options, new schools, a shopping district, or new construction homes or condos, these signs of construction could mean that the neighbourhood is poised to take off in the near future.
However, don’t just buy based on vibe alone. Choosing a great neighbourhood requires a little more research and you might just need to tag someone else in to help.
How to Choose the Perfect Toronto Neighbourhood
The single most valuable asset in finding a great Toronto neighbourhood for your next home purchase is to work with a dedicated buyer’s agent. Realtors® are in-tune with everything going on in their community and can help you define and find exactly what you are looking for in terms of the “where” portion of your homebuying equation.
We’re lucky to work with the best in the biz! Meet our Buyer’s Agent, Nicole Shlass right here.
They’ll take a deep dive into your goals, your future ambitions, your likes and dislikes, and more. They’ll also look at your budget, finances, and all the other factors that come into play when it comes to buying a home.
And if, at the end of the day, you fall in love with a home that is well outside your favourite Toronto neighbourhood, your agent can help you talk through the pros and cons of making that decision at that time. They’re kind of like your own personal guide, helping you make the right choice for you and your family.
Thinking about buying a home in Toronto? We’d be happy to help! Give us a call or text 647-973-8392 today to learn more about our buying services!
