Before You Look for Your Dream Home: Know What You Want vs. What You Need!

In this day and age of being able to shop for anything anywhere,it is really important to know what you’re looking for whenyou start your home search.

If you’ve been thinking about buying a home of your ownfor some time now, you’ve probably come up with a list ofthings that you’d LOVE to have in your new home. Many newhomebuyers fantasize about the amenities that they see ontelevision or Pinterest, and start lookingat the countless homes listed for sale through rose-coloredglasses.

Do you really need that farmhouse sink in the kitchen to behappy with your home choice? Would a two-car garage be aconvenience or a necessity? Could the “man cave” ofyour dreams be a future renovation project instead of amake-or-break right now?

The first step in your home buying process should begetting pre-approved for your mortgage. Thisallows you to know your budget before you fall in love with a homethat is way outside of it.

The next step is to list all the features of a home that youwould like, and to qualify them as follows:

• “Must-Haves” – if thisproperty does not have these items, then it shouldn’t even beconsidered (ex: distance from work or family, number ofbedrooms/bathrooms).
• “Should-Haves” – if theproperty hits all of the ‘must-haves’ and some of the‘should-haves,’ it stays in contention but doesnot need to have all of these features.
• “Absolute-Wish List” –if we find a property in our budget that has all of the‘must-haves,’ most of the ‘should-haves,’and ANY of these, it’s the winner!

Bottom Line

Having this list fleshed out before starting your search willsave you time and frustration. It also lets your agent know whatfeatures are most important to you before they start showing youhouses in your desired area.