| What Kind of Home Do
You Need?
Your Current and Future Needs
Before you start searching for a home, you need to think
about your needs both now and in the future. Here are some
things to consider:
- Size requirements. Do you need several
bedrooms, more than one bathroom, space for a home office,
a two-car garage?
- Special features. Do you want air conditioning,
storage or hobby space, a fireplace, a swimming pool? Do
you have family members with special needs?
- Lifestyles and stages. Do you plan to
have children? Do you have teenagers who will be moving
away soon? Are you close to retirement?
Try to buy a home that meets most of your needs for the next
5 to 10 years, or find a home that can grow and change with
your needs.
Choosing a Location That Is Right for You
Even if the home you choose has everything you need, the
location might not be appropriate. When deciding where to
live, you should take the following things into consideration:
- Whether you want to live in a city, a town or even in
an out-of-town location
- Where you work and how easy it is to commute
- Where your children will attend school and how they will
get there
- Whether you need a safe walking area or recreational facilities
such as a park nearby
- How close you would like to be to family and friends
New Home, Previously Owned or Build Your Own?
When thinking about the kind of home you want, the first
thing you should consider is whether you want a previously
owned home (often called a resale) or a new home. Here are
some characteristics that may help you decide:
New Home
- Personalized choices. You may be able
to upgrade or choose certain items such as siding, flooring,
cabinets, plumbing and electrical fixtures.
- Up-to-date with the latest codes/standards.
The latest building codes, electrical and energy-efficiency
standards will be applied.
- Maintenance costs. Lower maintenance
costs because everything is new and many items are covered
by a warranty.
- Builder warranty. A homebuilder's warranty
is usually available in all provinces (except Nunavut and
the Northwest Territories). This can be important if a major
system such as plumbing or heating breaks down. This warranty
does not apply if you build the home yourself.
- Neighbourhood amenities like schools,
shopping malls and other services may not be complete for
years.
- Taxes such as the Goods and Services
Tax (GST) (or, in certain provinces, the Harmonized Sales
Tax (HST)) will apply. However, you may qualify for a rebate
of part of the GST or HST on homes that cost less than $450,000.
For more information about the GST New Housing Rebate program,
visit the Canada Revenue Agency website at, http://www.cra-arc.gc.ca.
- Extra costs. You may have to pay extra
if you want to add a fireplace, plant trees and sod, or
pave your driveway. Make sure you know exactly what's included
in the price of your home.
Resale Home
- Easy access to services. Probably established
in a neighbourhood with schools, shopping malls and other
services.
- Landscaping is usually done and fencing installed.
Previously owned homes may have extras like fireplaces
or finished basements or swimming pools.
- No GST/HST. You don't have to pay the
GST/HST unless the house has been renovated substantially,
and then the taxes are applied as if it were a new house.
- Possible redecorating and renovations. You
may need to redecorate, renovate or do major repairs such
as replacing the roof, windows and doors.
Building Your Own Home
Some people prefer the challenge and flexibility of building
their own home. On one hand you can get exactly what you want
in terms of size, design, location, quality of material, level
of energy-efficiency, etc. However, you should expect to invest
lots of time and energy.
Deciding on the Type of Home to Buy
There are many types of homes to choose from and each has
its advantages and disadvantages. Think about your needs before
making a decision. Don't forget to look beyond the walls.
The environment surrounding your home can be almost as important
as the environment inside of it.
Single-family Detached
The most popular style and the most solid investment. It
is a free-standing home which sits on its own lot thereby
offering a greater degree of privacy.
Semi-detached
A single-family home that is joined to another one by a common
wall. It can offer many of the advantages of a single-family
detached home and is usually less expensive to buy and maintain.
Duplex
Two units — one above the other or side by side. The
owner usually lives in one unit and rents the other.
Row House or Townhouse
One of several types of single-family homes joined by common
walls. It offers less privacy than a single-family detached
home but still provides a separate outdoor space. These homes
can cost less to buy and maintain.
Link or Carriage Home
Houses joined by garages or carports which provide access
to the front and back yards. Builders sometimes join basement
walls so that link houses appear to be single-family homes
on small lots. These houses can be less expensive than single-family
detached homes.
Manufactured Home
A factory-built single-family home that is transported to
your chosen location and placed on a surface-mounted foundation.
The term manufactured home has replaced the term "mobile
home".
Modular Home
Also a factory-built home constructed in compliance with
local building codes. The home is typically shipped to your
location in two or more sections. It may or may not have a
longitudinal sub-frame.
Condominium
Refers to a form of legal ownership as opposed to a style
of construction. Condominiums can be high-rise residential
buildings, townhouse complexes, individual houses and low-rise
residential buildings. Condominiums are also known as stratas
in British Columbia or syndicates of co-ownership in Quebec.
Kingston Home Buyers Guide
Kingston Living is Kingston's premier online
resource for everything about your home. We provide comprehensive
Kingston real estate and rental listings, for home buyers, home
owners, and renters. We also have a comprehensive home services
directory for your home shopping and renovation needs. Our
Kingston home directory consists of the following categories:
apartment
rentals, financing,
home
& garden, home
renovation, home
services, insurance,
lawyers,
moving
& relocation, and real
estate services.
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