If you're struck by the house hunting bug, resist the temptation to rush out and hit the streets or wade through dozens of real estate papers and magazines. Home buying is a big decision and there is a lot to know and think about before heading straight to moving day. Spend a little time now with a list of your likes and dislikes in a home and neighbourhood, some thoughts on the lifestyle you lead and what your family needs from a home. Having a better idea of what you need in a home will help you make a more satisfying choice and one you'll be happy to live with for years to come.

Some people prefer homes that are essentially maintenance-free, while others enjoy working around the home on various projects. If you enjoy plants and flowers, you'll want some space where you can continue your hobby. On the other hand, if you're not a green thumb or don't enjoy lawn care, a home with a backyard deck where you can kick back and relax might be more your style. Also, find out when major repairs like replacing a roof or windows were last done and the age of major appliances like the furnace. If any of these need repair, the cost should be factored into your purchase. An inspection by a qualified professional can also reveal structural and mechanical defects, such as substandard plumbing or water seepage.

When choosing a neighbourhood, consider your lifestyle and how you like to spend your leisure time. If sports is a favourite pastime, maybe locating near a community centre or recreational facility makes sense. Perhaps you prefer the outdoors, so a home near a park with walking or biking trails holds appeal. Think about how you and your family like to spend your time and the type of lifestyle you enjoy so you can do more of it from your new home.

You may also like a country setting just outside the city, but how does that mesh with your daily drive to and from work? Will the trip during winter be too much hassle? Locations of schools, churches, doctors, dentists, shopping centres, entertainment, convenience stores, and availability of public transportation are other important factors when selecting the right home and neighbourhood for you.

When you've narrowed your home choices, take the time to visit the areas on different days and at different times before making an offer to buy. Walk or drive around and get a better feel for the area and the people. Talk to some neighbours. Be sure to jot down some notes on your likes and dislikes.

If you plan to rent the basement or conduct a business in your new home, or arrange an in-law suite, check zoning by-laws and fire codes.

Now that you have your list with some thoughts and ideas about what you want in a home and neighbourhood, it's time to see if it's affordable. Click the Planning Tools button and explore the various calculators that can show you the mortgage payments and terms that fit your income.