2. Choosing your home

How to go about finding the dream home that also fits your budget? Before you set off on this adventure, be sure to establish your priorities and determine as precisely as possible what your selection criteria will be.

It's up to you to identify what is essential and what you are willing to sacrifice.

Location

The location of your future residence is a factor that requires particular attention, especially in big cities.

There's a world of difference between the city and the suburbs, especially with regards to lifestyle. On one hand, the city offers a vast range of housing styles, developed public transportation and nearby entertainment centres such as cinemas, restaurants and theatres. The suburbs, on the other hand, offer bigger properties and homes that are often newer and more affordable than in the city.

Six questions to help you find the ideal location

• How much time can you devote to getting to work? What means of transportation will you use to get to work?
• What local services (daycare, schools, hospitals, banks, parks) are available?
• What is the value of neighbouring homes? Have they gone up or down?
• Is the neighbourhood safe and quiet?

Type of home

Take the time to choose the home that best meets your tastes and needs. There are many types of homes, each with their own advantages and reflective of different lifestyles. For example:

• single family homes (one-storey or two storey home)
• semi-detached homes
• duplexes
• townhouses
• condominiums
• undivided co-ownerships

Five questions to help you select a type of home

• Do you need a lot of privacy? Do you mind sharing space with neighbours or renters?
• How much time will you have to devote to home maintenance and up-keep?
• Do you need large rooms?
• Do you want a big back yard?

New or existing home

Compare the advantages