28 Jun 2012

The Daunting Task of House Hunting

In one my previous post i mentioned that we are house hunting and viewing. I must it is overwhelming.
We saw some potential homes for our young family. I really liked one with beautiful open and airy windows but the basement was not big and ready to rent. You see we would like to have a basement for rental potential - it is a help for the mortgage and in future a place for our growing family. It is a 1912 renovated house, they say the structure can be weak.
We also saw two bungalows with great basements and gardens, one was already occupied by a lovely couple, but living space upstairs was not spacious enough. I guess we can't compromise with space after being spoilt living in this 1200sq house.
We saw the house with all the space we need and basement nicely done ready to rent but it was way out the ideal location for me. It is great for hubby because he can cycle to work in 15 minutes and he has a with great view overlooking the river but it is a drive to the centre - not that I go downtown very often but there is something I don't like about that house and I don't even know what.
We asked to have second viewing of the house I liked but it is already SOLD and the same applies to the house next door.
Well it was a sign, we are not ready to buy. We've decided to take a break from all the house hunting because it takes energy and the housing market seems it is about to crumble. They say one to two years. If we see something we like - hopefully the one I really like falls through – we will buy but for now we don't want to house hunt anymore.
Questions: How long did it take you to find your house? Do you think the housing market in Canada will crash as it happened in USA and Europe?

9 comments:

  1. It took us 5 months to find a home we liked that was within budget. If I was smarter, I would have waited. Take your time.

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    1. glad to read it took you 5months. we are going to take all our time :)

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  2. we ended up finding our house in a new subdivision before it was built. we got to pick out all the details & we're very pleased...but it took a LONG time to find something we both agreed on!

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  3. House hunting is draining. We've taken a break too. I think Canada has a very secure market. Perhaps, we should look into relocating there. LOL

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  4. We moved to a development where they built our house. We picked out all the little details. It was fun and quick. Only took 3 months. And it's the way we like it. We've been here for 4 years. I don't know about the housing market in Canada. Hopefully it will stay stable.

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  5. It took us about 3 months. I think when we found the house that is when things got stressful. Getting to close was a long and annoying process.

    We made sure to find a house that we could afford. The last thing we wanted to be was house poor because we still wanted to be able to travel, dine out, etc.

    Take your time! You'll find your home!

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  6. take your time. you are doing it right. we picked our house after 3 days of looking. we were moving here and it felt rushed. I wish we had rented for a year and looked some more

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  7. I'd say take your time! Don't rush into buying a house. It is a big investment and there are so many houses coming and going on the market that eventually the perfect one will come your way.

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  8. For the past years, the house sale price in Canada really went up and was thought to be too expensive for the buyers. However, last month, the Finance Minister of Canada affirmed that the government is prepared to face the odds of slower economic growth in exchange for calming down the housing market in Canada. It’s good to hear that the government is really concerned in the housing market, particularly in the large cities. You don’t have to worry. I’m pretty sure that you’ll going to find the ideal house that is best for you.

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