To uncover the best property for your way of life, pocketbook and subsequent needs, make a few important choices early in the search to save you and your real estate professional a lot of unnecessary work.. Taking the time to understand current market conditions can help you take smart choices and earn the best p rofit ratio. Ask yourself the tough questions up front to narrow down the field and spare yourself the risk of buying a house out of impulse that does not suit your long-term needs.. Many real estate markets have established regular patterns that determine the price of the property based on the surrounding environment.. Consequently, understanding which locations best suit you is an important first step. Are you ready for a country property with the capacity to expand, or does it make more sense to have a smaller home but be near your place of employment to cut down on your driving time? A small city may be attractive for its tranquilness but buying in the Halton Hills real estate sector when you work in Toronto may not be the best move. By examining the ramifications of differing locations, you can determine your most ideal locations. Reducing the field by area specifics also helps you concentrate on the next set of parameters based on what the market in that area has to offer.. Another crucial early move is to honestly determine how much square footage you require to be comfortable and productive in your new house.. Besides the simple requirements of the number of bedrooms and bathrooms you need, also think about how much extra room you are going to use.. Do you have plans for a home office, have any equipment that calls for storage or is it necessary for you to have a guest room. Do you have kids and pets that would profit from a fenced backyard, or would you rather have a home that does not involve yard maintenance so buying a condo or attached property would make sense? You may choose to look at purchasing something in the Hamilton real estate market that will give you more space for your dollar. Once you have the size and area determined, another factor you will encounter is the various conditions of available homes and their influence on the end price.. A distressed property may substantially reduce the amount of mortgage you need and save you a lot of money on a mortgage if you have the patience and renovation skills needed to make the needed improvements within your finances. In an active market such as Brampton Ontario you may hunt for distressed Brampton properties for sale that other buyers may not have thought about. But if your busy life requires that your home time is not spent on home repair projects, it would be better to target slightly pricier houses or condos that do not need renovations or modifications in the near future. Of course, it all comes down to money, and to be sure you do not handle|get in over your head], you will need to believe in your real estate agent with the details of your economic circumstances so they can help you make informed choices. Take the time to grasp all the economic impacts of current interest rates, determine if you qualify for financial assistance and understand the housing trends that can affect your purchase later on..