There are many factors come into play when determining what type of home you want.
1) Size and number of bedrooms - Obviously, the size and number of bedrooms will be a crucial factor. But on top of that, how much yard space do you want, and how much are you realistically willing to manage? Is an attached garage important to you?
2) Location - You will also want to consider your commute to work. Do you want to live in the city where your money will buy you less real estate, but you’ll have a short commute, or are you willing to deal with a longer commute?
3) Schools and nearby facilities- If you’ll have school-aged children, school districts should be a major consideration, as well as safety and family friendliness.
4) Room for appreciation - If you consider your home purchase an investment that you hope will appreciate in value, you may consider to move into an area that is likely to see redevelopment and an influx of wealthier residents in the future.
5) Demographics of the neighborhood – Would you prefer a neighborhood known for young families with kids, just like yours? Is it important to have your favorite grocery store selling your native food or corner restaurants where you can taste ethnic cuisine?
6) Life style – How handy are you? Do you want to take on a fixer-upper project or rather a turn-key new construction? Do you want to take care of a 50-year old single family home, maintain a yard, and clean the garter from time to time, or rather sit back and relax in a much newer townhome and not having a yard at all?
7) Phase of life – Is this going to be your starter home or are you down-sizing? If it is your starter home, you may want to have extra space for family to grow into, and while keeping on saving money. If you are downsizing as the kids have left the nest, and you used to live in suburbs with good schools, now you may want to go somewhere for a change.
8) Need for extra income – Do you need the extra income to offset the mortgage payment? If so, you may consider duplexes or a home with rental potential.
Remember, if you plan to buy a house, you should plan to live there for several years. Therefore, all these questions need to be considered.
As your realtor, I will listen to your needs and objectives when we get together. I will help you prioritize these criteria, narrow down the neighborhoods, and type of housing to fit your needs. In most cases, depending on the price point, it would be hard to find a home that meets all the criteria. Therefore, I would help you draw a line somewhere to make sure that majority of the most important objectives are met.