Evaluate Your Needs Versus Your Wants Before You Shop For A Home

Buying a home, especially if you're going through this process for the first time, can initially seem a little daunting because of all the factors that you have to evaluate. Having an experienced real estate agent, such as RE/MAX PLATINUM : Gail Schoeneberg, working on your behalf can make the process easier, but you need to remember that you need to providing your realtor with enough information to be effective. This means that before you get the agent to begin scouring the market for homes for you, it's a good idea to thoroughly think about what you want in a home. Often, evaluating your needs versus your wants can be effective. Here are some points to consider.

Sample Needs

It's a good idea to actually write down what you need in a new home. Be as broad as you'd like, as you can go through the list afterward to re-evaluate it. There are many types of needs that you may be considering. For example, if you have two young children, you may need a house with three bedrooms and it may need to be located within the jurisdiction of your preferred school district. If you have pet dogs, you may need a fenced yard or, at the very least, a sizable yard around which you can have a fence built.

Sample Wants

Once you've written down all your needs, you can begin to tabulate a list of wants. Keep in mind that some entries on your list of needs may actually be wants, so evaluate them closely. For example, it's easy to say that you need a swimming pool, but this would likely fall under the want category for most people. Other examples of things you'd want include a park nearby or close proximity to a bus stop if you commute to work via public transit.

Evaluating The Lists

Upon finishing both lists, you can look at them to ensure you're happy with both sides of the equation. You can then present the lists to your real estate agent, and he or she can provide you with some realistic expectations as to what you'd expect to pay for a house that fulfills your needs. If this amount is slightly more than your budget allows, you'll need to look at your needs and see which may be able to be moved to the want list. For example, you might have listed that you need a garage because you own a convertible that you store for the winter, but maybe you can get around this dilemma by storing the vehicle in a friend's garage.