Choosing a new place to live isn’t always an easy task. There are several factors to take into consideration before making that big decision.

Budget

There is no more important factor than your ability to pay for your new home. Whether it’s a purchase or rental, you should assess whether you will be able to afford the place or not. It may be tempting to go over-budget but what may seem like something not to worry about today may turn into a nightmare in the future. Evaluate your situation well before moving forward.

Location

Some people cannot stand living in crowded areas while others don’t mind the city sounds. Location is one of those factors that cannot be changed. If you won’t be living alone, it’s important to discuss your preferences with your live-in partners and make sure there won’t be any regrets later on. Take into consideration as well that new construction projects can always take place around you. Imagine purchasing a house with a spectacular ocean view for example only to find it blocked by a ten-story building a few years later.

Size

If you’re a family of four, then a one-bedroom apartment obviously isn’t an ideal choice. Don’t forget to take into consideration your future plans, especially if you’re single or a newly married couple. If you’re moving your furniture as well, check that they will fit in without overcrowding your new home.

Type of home

In addition to the previous factors, you will also have to consider what type of housing unit you want to move to: single-unit or multi-unit housing, villa or bungalow, apartment or a condo… there are so many options to choose from and you have to consider the pros and cons of every one of them.

Renovation Needs

It is rare to find a house where you are ready to move in without doing any works. Consider the state of the new home and the extent of renovation to be done. In some cases, you will only have to do basic maintenance check-ups but if you are considering adding a new bedroom or taking down a wall, your costs might climb exponentially. Don’t forget your budget!

Watch out for potential problems

If your new home is at an unreasonable low price, it rarely is a bargain. Ask questions around the neighborhood or look out for signs of damp or cracks. You don’t want to invest in a new property which could end up causing you and your family serious health hazards.