So you've decided that you want to purchase a home in London, Ontario. Congratulations! Now, what kind? And where? These are harder questions to answer. Yet answer them you must. Real estate agents can't read your mind. Not even the ones who sell luxury real estate in Toronto to hard-to-please famous people. The best way to help them help you is to sit down and think seriously about your lifestyle, your plans for the house, and your future and make a list of requirements. If you're not sure where to start, use our simple guide.

Budget

The most important limitation you can give to your real estate agent is your budget for a home purchase. The amount of money you can afford to lay out on a London property depends on how much you got from the sale of your old house, how much you earn at your job, and how much private lenders for mortgages are willing to front you. Though many places will allow you to take out a mortgage without a down payment, doing so costs you a lot more in the long run, so we recommend against it. Monthly mortgage payments of less than 30% of your income are considered affordable for most people.

Location

You may think deciding on the city of London fills this requirement, but there are many locales within the city. Do you prefer a trendy, artsy atmosphere like Liberty Village condos in Toronto? Do you want a neighborhood with lots of kids for your children to play with? Would you like to be near a particular school, store, or office building? These are all factors that play into location. Think about how you will be living: where you will work, where your friends or relatives live, and the type of neighbors you would like to have and note your preferences for the realtor.

Size

London is less densely populated than Toronto, so you can expect more living space for the same amount of money than you would get if you bought Clarkson real estate. However, you still need to decide what size lot you need (e.g. do you need a large driveway? A big yard for the kids?) and how many rooms you want. Bedrooms can be flexible if your kids are willing to share, but if two baths is necessary for getting everyone ready in the morning, or you want a dining room big enough for dinner parties, make note of that.

Features

If you'd been admiring the Brampton houses in your old neighborhood with backyard decks, tell your realtor to look out for houses that have them. Other features realtors can easily check for include fireplaces, swimming pools, garages, family rooms, finished basements, enclosed yards, and condo building amenities like spas, weight rooms, and ensuite laundry service.