If you’re weighing the options between buying vs. renting a house, house hunting tips can provide a valuable guide for both the choices within Toronto’s real estate market. When it comes to purchasing a home in the city, it’s easy to assume that this course of action is a considerably expensive investment. Throughout the pandemic, the market has been notably impacted, and as a result, the average price for buying homes in Toronto is on the rise. However, it’s important to remember that each house on the market may not live up to its selling price.

If you’re searching for a new home to buy, these tips will help ensure you make the right choice:

House Price = List Price + Additional Costs

The cost associated with a house goes beyond the list price, and some examples of factors that can easily build up your expenses are renovations, remodelling, and repairs. By working with a trusted realtor in Toronto like Real Pavel, you’ll gain an idea of whether it makes sense to obtain better mortgage rates and conditions by making a larger down payment, or to put more money into upgrades by paying a lower amount upfront.

A Top to Bottom View of the House

Although a home can be beautiful from the inside and out, an important precursor to placing a bid on it involves the roof. This means that determining its installation date and if any recent damages or fixes have taken place can assist with bypassing roof repair problems down the road. Additionally, checking for blocked or damaged eavestroughs and indicators of leaks in basement floors and walls can help you save a lot of money by guiding you to make the right decision.

Assessing Interior Elements

If a house is on your shortlist, ensuring that the HVAC system has been properly inspected and consistently maintained is crucial to make the right call. When it comes to kitchens, taking a close look at the appliances’ quality, storage options, cabinet space, and layout effectiveness, as well as having the plumbing and electrical components inspected, are good ways to avoid a costly renovation in the near future. Lastly, proper ventilation and the absence of leaks in bathrooms, and hardwood flooring without dark stains or sunken planks, are signs to also watch out for.

When navigating the real estate market for your next home, contact Real Pavel to create the ideal buying or renting experience that fits the requirements you seek.

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