Richmond Hill is one heck of a town! From its high-end, green-filled living to its culinary quality and diversity, Richmond Hill is not only a great place to live but also to place your biggest investment—your home. When buying real estate in Richmond Hill there are 4 tips to keep in mind—tips we’ve gleaned from our over two decades in the real estate business here.
4 Tips for Buying Real Estate in Richmond Hill
1. Know your Landmarks
The first step to narrowing down your Richmond Hill neighbourhood of choice is understanding what is all around you. Did you want to be close to the 404 for a shorter commute? Or closer to Hillcrest Mall for nearby shopping amenities, or Mill Pond Park to be surrounded by livery?
2. Know your Needs and Wants
Real estate in Richmond Hill runs the gauntlet, from cozy bungalows to large, family-oriented two-storey detached homes. When you begin your home hunt you’ll need to ask yourself questions like how big of a home do you need? What neighbourhood would you prefer to live in? How important are specific home features? When you discuss these questions with your realtor they can make suggestions on the type of home your family could benefit from.
3. Have a 5- and 10-Year Plan
Our city is growing extremely fast—and your family might be too. Whether your family is still growing or preparing to downsize as the kids go off to college, keep all this in mind when house-hunting. Knowing how much house you need and for how long will help you and your realtor make smart decisions. For example, if you know that you will likely be upgrading to a larger home in five years, then you will want to select a neighbourhood that has great marketability and a demonstrated upward-growth trajectory in terms of value, which will offer you enough equity to upgrade.
4. Understand Richmond Hill Growth
Richmond Hill is growing—quickly! In fact it is growing 14% every year, and with only about 60,000 homes that means we need rapid real estate expansion to accommodate the existing population and newcomers to the city. So, before buying a home know the projected growth of the area. You’ll want to know this for two reasons, one, so that you’ll choose an area with the best sustained growth in home value, and two, so that you buy a home in an area that you’ll still appreciate a few years down the road as the city continues to grow and change around you.
Curious for more Richmond Hill-specific tips for buying real estate in Richmond Hill? Then be sure to work with The Wan Team—a team with over 20 years experience in the area. Call us today to find out exactly how we can improve your home search and ensure you make the smartest, most-informed home-buying decisions possible.