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6 things to consider before you start your house hunt

Here are a few things to think about before you start looking for your new home.

By ATB Financial 22 October 2021 2 min read

You’ve binge-watched House Hunters for years, and now you’re feeling the itch to go on a house hunt of your own. Here are six things for you to think about before you start going to any open houses.


1. Your income

Are you a freelancer? On contract? In a consistent, permanent position? Knowing that you have the funds to make your mortgage payment every month, plus other housing expenses, is a must. This means you need some sort of financial stability or savings to draw from, no matter your career.


2. Your budget

Find out exactly how much money you can afford to spend each month on your mortgage and house expenses by making a budget. Once you’ve added up all your lifestyle and essential spending and saving, you can direct the extra towards your dream home.


3. Your credit score

A mortgage gets you the house of your dreams, and a healthy credit score—700 or above—gets you a mortgage. Before you get too attached, do a quick credit check. This can save you from heartbreak later.


4. Your preference: condo or house

Knowing what kind of living situation best suits your preferences and lifestyle streamlines your house hunt. If you prefer urban environments and avoid yard work, a condo might be for you. But if you value having your personal space and the potential of greater resale value, a house could be your best bet.


5. Your non-negotiables

Sure, having a pool and a shop the size of your first apartment might be nice, but they may not be the most realistic must-haves. There will be compromise as you search through houses, so know what you can’t compromise—whether that’s a heated, attached garage or two full bathrooms.


6. Your preferred location

Save time on your house hunt by narrowing down the neighbourhood you’d like to live in. This can also prevent you from getting attached to a house that’s an hour and a half away from your work.


Want to know more about how to prepare for your house hunt? Take a read through our complete guide to buying a home in Alberta. We’ve gathered tons of practical resources and information to help you on your search.

What else should you consider when buying a home?

How does your house hunting plan stack up? Go through our home buying checklist for what you need to know before making your big move.

Need help?

Our Client Care team will be happy to assist.