Buying and Selling a Home For Canadians For Dummies, 5th Edition

Chapter 8

This Home Is Great! (Except for … )

IN THIS CHAPTER

Being objective when shopping for your new home

Facing facts: Is it a fixer-upper or a money pit?

Knowing the risks of flips

Investigating like Sherlock Holmes — clues to look for in potential homes

While home hunting, you’ll find that many houses match some of your requirements but not all of them. A house might have everything you want inside, but there won’t be any parking, or it won’t be in the ideal neighbourhood. Don’t be too narrow in your requirements; remember the difference between what you absolutely need and what you just want to have. The art of buying real estate is making as few compromises as possible while being realistic in your expectations.

Each home is different, and each will have its pros and cons. The home you want may not be in the price range you can presently afford. You may simply not be able to afford Montreal’s Westmount area, though you’re dying to live there … or you may sacrifice your dream home to live in your dream neighbourhood. Theoretically, you can always change your home if it isn’t ...