If you have just started the process of looking for a home on the Tampa real estate market, there actually are ten tried and true tips that you will want to keep in mind as you begin this important mission. By paying heed to these tips, you will find that the time you spend searching for a home will be time well spent. In the end, you will find precisely the home you are looking for - the home of your dreams. 1. You need to keep in mind that there is no such thing as a perfect home. You need to be realistic as you undertake shopping around the Tampa real estate market. 2. You will want to do your homework before you start looking at residential properties. You will want to make a list of those features that are most important to you before you begin shopping for a home. 3. You need to make certain that your finances are in order before you head off looking at homes. You need to make certain that your credit report is accurate and in order. You also need to make certain that you have the money available to cover the down payment and the closing costs and other expenses. 4. Do not wait to get a loan. You are best served by becoming pre-qualified for a loan before you actually begin looking for a home. 5. Limit the number of people you obtain advice or opinions from. Get advice from a knowledgeable and seasoned Tampa real estate agent. Remember, if you need your car repaired, go to a mechanic. If you are looking for a home, go to a professional Realtor. 6. Make sure that you decide when you can move. For example, if you currently are renting, you will want to coordinate your move into a new home around the time that your lease will be ending. 7. You will also want to plan for the future. You will want to invest in a home that will serve your interests and needs as far into the future as possible. 8. Don't buy more house than you can afford. One of the more significant problems people are facing in Tampa and elsewhere in Florida is trying to pay for a home that they actually cannot realistically afford. You need to understand that you must have enough money in your housing budget to pay for maintenance and other related expenses. Moreover, a record number of Floridians have found themselves facing foreclosure actions over the course of the past year because they have purchased more home than they could afford in the first instance. 9. Don't be nave and overly trusting when it comes to buying a home. You must make sure that you obtain independent inspections. If possible, you may want to try and obtain a warranty that covers defects that are discovered during the first year of your ownership. 10. Obtain professional assistance. You will want to consider seriously engaging the services of a real estate professional to assist you in the purchase of your home. By engaging the services of a real estate professional you will have someone on your side that understands the Tampa real estate market inside and out.
But what about choosing a neighbourhood?
While personal considerations such as living close to family (or keeping a comfortable distance from them) may limit your selection to only a few Toronto neighbourhoods, there are otherwise over two hundred communities across the city from which to choose. Here is a sampling of some of the more popular neighbourhoods for first time home buyers:
Riverdale and Danforth Village
From Broadview to Woodbine, straddling the first few streets on either side of the Danforth, and Danforth Village combine to offer a selection of stylish entry-level character homes. Perfect for the young urban dweller with a disdain for the uniformity of suburbia, this area offers convenient subway access, cool Danforth dining and shopping, and a range of prices for every budget. Riverdale is superb both for finding homes with great bones for the ambitious do-it-yourselfer, and finding magazine-quality renos for those you want to just move in and impress their friends.
Riverdale and Danforth Village Real Estate Values: Entry-level Danforth Village homes range from $250-400,000 while entry Riverdale homes range from $400,000-550,000.
East York
The portion of East York spanning from the Danforth north to O’Connor Drive offers some of the best value in all of Toronto. It is still possible to find homes for under $325,000 that are on quiet streets, are close to the subway, and that don’t give you an icky feeling when you step inside. The author can personally attest that East York is a very pleasant place to live, as it is where she bought her first two homes!
Thinking about eventually either having a family, or needing more space? Consider one of the traditional East York bungalows, and then have one of the rapid renovation companies that specialize in “topping-up" bungalows add a second floor when you need it. (This is also a respectable way to add value to your investment; some of these topped-up bungalows are fetching $500-600,000 on resale).
East York Real Estate Values: While some semis and small detached homes can be found for as low as the $250-300,000 range, a much greater selection is between $300-400,000.
Harbourfront
Who said that just because you are a first time homebuyer, you can’t have a view of the water and be right in downtown Toronto? While you can’t expect a sprawling Harbourfront condo penthouse for under $200,000, there are bachelors and junior one-bedroom units in contemporary buildings with excellent facilities that sell for as little as $180,000. In addition to building amenities, you have Harboufront’s cultural attractions and Lake Ontario’s outdoor activities outside your door, with streetcars and the downtown only steps away.
Davisville Village
Right in the middle of the city, Davisville Village offers some of the best-priced housing options within the desirable Yonge Street corridor. Offering the convenience of a brief subway ride to downtown, Yonge St. shopping, and loads of fun restaurants and pubs, Davisville Village has been attracting young buyers looking for their first home or condo. The hoards of singles in their twenties and thirties who reside in the numerous condos near Yonge and Eglinton are what have earned the neighbourhood the moniker of Young and Eligible.
Davisville Real Estate Values: Entry-level condominiums have been recently selling from close to $200k, while semi-detached homes start at around $400,000.
Other Neighbourhoods
From Don Valley Village to the Upper Beach, Toronto offers dozens of affordable and convenient neighbourhoods that are excellent for the first-time home buyer. Read full profiles on these and other communities by clicking here: http://www.rebeccalaing.ca/Toronto_Real_Estate_Map
Both Katie George & are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.