Buying a Home: Needs vs Wants
Similar to the list you develop to purchase groceries, why not develop your own list of needs and wants in a new home. This doesn’t mean you can not have what you want in your home, but rather, that you have a priority list of the most important features. You may not be able to obtain all the “want” items on your list, within your budget. You may have to compromise on a few items to stay in line with your budget.
Here’s a review of needs versus wants:
- Adequate square footage for comfortable living
- Sufficient bedrooms for your family
- Sufficient bathrooms
- Comfortable eat-in kitchen
- Garage or basement for storage needs
- Backyard for children’s play area
- Easy access to school
- Specific carpeting, paint, exterior color
- Hardwood floors
- Bay windows
- Built-in entertainment center
- Brass lighting fixtures
- A pretty view
Try finding a happy medium of NEEDS and WANTS. That is, you will want to look for a home that includes all of your needs, with as many wants as practical, while remaining within your budget. Once you have this information in hand, your needs will be clearly defined from your wants. Having this knowledge will establish a clear direction for your new home shopping.
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