The One Cost Every Homebuyer Forgets to Calculate
With the price tag on homes in Mississauga and the GTA rising, prospective homeowners need to find every opportunity they can to save money.
Carefully adding up all of the extra expenses, such as property taxes, prices for local goods, possible renovations, and closing costs is vital for any buyer, not just those on a budget.
But there’s one cost that every homebuyer forgets to calculate: the commute.
With millions of people commuting more than an hour to work in North America, it’s becoming increasingly important to add this cost into a home’s price.
Here’s how to evaluate your commute and a few tips for making the most out of it!
Tips for evaluating your commute
Since your time to and from work in the car or by public transport is going to make up a hefty chunk of your day (people in the GTA have the longest commutes in Ontario), you’ve got to get get a clear picture of it before committing to buying a home. Make sure to:
- Drive in on a Monday morning: The rush hour to end all rush hours, Monday morning is the time you least want to be on the road. If you’ve got the time off, see what a commute is like by driving in or taking public transport. Ask yourself if you could really do this every day. Also, be sure to always check the gas gauge!
- Ask colleagues where they live: Asking for personal experience from colleagues is a great way to gain insight into the commute. Chances are it won’t be exciting, but which commute is?
- Consider your work-life balance: Work-life balance is all the rage. This zen-like state is where you have the perfect balance between a paid career and personal life such as a family, a partner, and hobbies. Is the home’s backyard or pool enough to outweigh any possible downside of a longer commute? See if your boss wouldn’t mind adding some flexibility into your schedule!
Make your commute enjoyable with these 3 tips
Since you obviously get more for less the further from the city centre, chances are you’ll be far from where you work. Even if you aren’t, the commute is something few look forward to. There are a few easy tips you can take advantage of each day to make it better, though.
You can turn any commute (yes, even Monday morning’s) into a more enjoyable experience by:
- Using the time to better yourself: Don’t sleep on your commute if you take public transport, and don’t stress about work if you’re driving in a car. Use the time to listen to enlightening podcasts or read an interesting book instead.
- Catch up on work: We all need to clean out our mailboxes or respond to emails that we missed. Why not now? Everyone’s morning routine is different, but getting it started before you get into the office is always better. Easy tasks. Nothing stressful.
- Take your time: Waking up early in the morning isn’t fun, but giving yourself an extra thirty minutes can go a long way. You’ll avoid the worst traffic, not be rushed for your morning coffee, and can even take the scenic route for a better view.
With all of the costs associated with buying a home, it’s easy to forget some of the lesser-known costs that go with it. Never forget to calculate your commute and the toll it’ll take on your personal life.
With real estate agent fees and price tags increasing in Mississauga, it’s good to know there’s a company that has eliminated agent fees completely. Talk to Estate Deal today to learn how you can buy a home with 0% commission!