Let’s be realistic—there are no perfect homes. You are ultimately responsible for deciding what the essential features are that you require. The super-simple (and fun) way to separate needs from nice-to-haves.
When you embark on the home-buying process, your heart is filled with all the dreams in the world. It’s really easy to get caught up in the “I have to have ___________, so I’ll cut back somewhere else ” game, even when you don’t actually know where that somewhere else is or if you can realistically cut back there.
So, How Do you pare down the excess and still make sure to get the things you really NEED?
Here are a few questions to consider so that you can start compiling your wish list:
- What type of home interests you? (Single family, townhouse, condo, duplex)
- Are schools a factor?
- Do you need to be close to public transportation?
- How many bedrooms and bathrooms do you need? How many do you want?
- What other interior features are important to you? (Separate family room, formal dining room, home office, etc.)
- What about exterior features? Have you considered a garage, yard size, patio/deck, hot tub, view, or waterfront?
- Are there any special features you are looking for in a home?
So, How Do you pare down the excess and still make sure to get the things you really NEED? Make a List of Wants
Start by making a list of everything you want in your house. If you love it, jot it down. Have your spouse or partner do the same thing in a separate document.
Once you have everything down, start sorting your wants List by order of importance. What’s your No. 1?
- What type of home interests you? (Single family, townhouse, condo, duplex)
- Are schools a factor?
- Do you need to be close to public transportation?
- How many bedrooms and bathrooms do you need? How many do you want?
- What other interior features are important to you? (Separate family room, Sunroom, double sinks formal dining room, home office, etc.)
- What about exterior features? Have you considered a garage, yard size, patio/deck, hot tub, view, or waterfront, large windows?
- Are there any special features you are looking for in a home?
Come up with your top 10, and then compare your list to your partner’s top 10. What things appear on both lists? Those items should carry more weight because you both want them in your home.
Highlight the Important Stuff
Next, look at your list and consider:
- The things that can’t be changed without a massive investment. I’m talking things like square footage, window size, and number of bedrooms. This is your heavyweight list. These things should take priority in your home-buying decision.
- Features that are purely cosmetic, especially things that can be DIYed. These items should be moved waaay down the list or taken off entirely. Backsplash tile, paint color, and lighting can all be changed inexpensively and after you’re living in your house. You don’t want to pass up a fantastic house because you can’t see past a red accent wall.
Bring Your List When You Look at a Home
As you’re out looking at houses, keep your list handy. Maybe you’re not willing to give up hardwood floors for a jetted tub, but would you be willing to compromise for a jetted tub and extra square footage? Refer back to your must-haves list often. It’s easy to get distracted.
Here’s a quick checklist that I use when searching for a home. If you answer “yes” to all of these, then a “want” may be worth the splurge — that is, if you can be sure that you’ll be able to afford the feature (in terms of your monthly mortgage payments and living expenses).
1. Is it on both of your lists?
2. Is it something that’ll be extremely expensive and difficult to change or add?
3. Would you be willing to sacrifice something else to have it?
4. Would you feel like your house would be incomplete without it?
Happy house hunting!
3 IMPORTANT QUESTIONS EVERY HOMEBUYER SHOULD ASK, BUT FEW DO
https://homesinsdcounty.com/real-estate-blog/3-important-questions-every-homebuyer-should-ask-but-few-do/
REAL ESTATE GLOSSARY FOR THE FIRST TIME HOMEBUYER
https://homesinsdcounty.com/real-estate-blog/real-estate-glossary-for-the-first-time-homebuyer/
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