Ben D'Ovidio - Sutton Centre Realty  604-499-1996  bendovidio@gmail.com

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Moving home is always a big upheaval and there comes a point in our lives where the idea of buying a “forever home” becomes increasingly attractive. “Forever” means different things to different people and will depend on your circumstances – both family and financial. If you've decided it's time to make that final move there are a number of basic considerations to take into account, in this post we'll be exploring them.

 

Forever in Fine Detail

 

If it's going to be forever the decision needs some planning – in fine detail! You may have spent years imagining what the home you are searching for looks like but now it's time to bring that image into sharp focus. Consider the following:

 

  • Are you looking for detached or semi-detached family home in Vancouver? If so, think about how much maintenance this kind of property requires.

 

  • Does a Vancouver condo fit the bill better? Maintenance is not generally an issue you will need to worry about, if this is the case.

 

  • Location, is of course crucial. Do you want to be close to Downtown Vancouver, in the suburbs or in a more rural, village location? This part of the decision is important and you should check development plans for your chosen locations to be sure that no big surprises will be springing up near your future home.

 

Type of Home and Yet More Detail

 

Once you've decided on the type of home – a condo in East Van or a single family home in the West End - there are some specific details that you should consider in yet more detail for the type of property you have set your heart on. The following points for each type of home should be thought through carefully.

 

Houses:

 

  • Think about your lifestyle now and how the house you buy will adapt for the future. If it's forever you want a house that will be manageable now, and later in life. Properties with several flights of stairs may be perfectly practical now – but what if you become less mobile? Detached or semi-detached bungalow style homes may be the most suitable for many people in the longer term.

 

  • The size of property should be considered carefully; how much space do you need now, for yourself and family, for guests and even, hopefully much later in life, for in home-caregivers?

 

  • While space may be important also think about maintenance – again, now and in the future. This can be a difficult balance to get right, especially when you are younger, fitter and healthier! Homes that have potential for extensions to provide annexed accommodation for you (or grown up children) can be the most flexible if you are looking at larger properties.

 

Condo Living:

 

Condos have some great advantages in terms of forever homes. They may be most suitable for those who have reached retirement age – and many Vancouver condo developments cater specifically for this market. Condos have the following significant advantages;

 

  • They provide single-floor living, with access via elevators. There is no exterior maintenance to consider – although you'll have maintenance fees to pay. If you aren't a fan of gardening condos can be ideal! They offer hassle free living and yet most incorporate (managed) plenty of green spaces and attractive landscaping.

 

  • Condos also often have on-site health and fitness facilities and many have members clubs, bars or restaurants, bringing plenty of opportunities for staying active and building links in your community.

 

Cost Considerations:

 

When it comes to buying your forever home the concept of investing in property is less important than finding your perfect match. The biggest financial consideration is likely to be the ongoing costs – and you should pay close attention to these based on your current and likely future finances. Take the following into account when doing your calculations:

 

  • The ongoing property taxes

 

  • Mortgage payments – both now and in the future.

 

  • Costs of utilities – again think about your current budget and likely future income.

 

  • Maintenance costs – for houses the costs you may have to pay and for condos the maintenance fees.

 

Final Decisions

 

Many decisions you will need to make when searching for your forever home will be highly personal and will depend very much on your circumstances. The above considerations should provide you with a sound starting point for your search, but with each personal consideration, remember that the devil is in the detail and always examine all of your requirements closely and consider possible changes in the future. When it comes to that final decision, also take your time. Forever can last for a long time!