When buying a home one of the first things you will consider is can you afford the purchase price? Something else to consider is what the long-term costs of owning the home will be. The average annual cost to own and operate a car in Canada is over $8,000.00, so living in a neighbourhood where you can drive less, or not require a second vehicle, can save you money. Choosing a smaller home with a compact lot reduces the costs spent on maintenance. A two-storey detached home loses 20% more heat than a semi-detached home and 50% more than a middle home in a row of townhouses of the same size with the same heating system, insulation and windows. Choosing a home that has healthy trees shading it will help with cooling costs in the summer and as an added bonus may increase your property value. Taxes, condo fees and mortgage payments are some of the more obvious long-term expenses. As your housing requirements change, i.e., your family gets larger — will the home accommodate these changes or will you need to move again and incur the costs of a move?