If you had to choose between hardwood floors and a third bedroom, what would you choose? A pool or privacy? Decisions like these can be stressful and time consuming so it’s best to get ahead of the game (and other potential buyers) by prioritizing your wants and your needs, or your musts and your lusts!
Here are a few tips:
Make a List of Wants
Start by making a list of everything you want in your house. I mean everything. Bedrooms. Baths. Backyards. Style. If you have a spouse or partner have them do the same. Once you and your partner have everything down, start sorting your wants by order of importance. What’s your No. 1?
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.
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. Cosmetic wants, like subway tiles or butcher block counters, should be moved way down your list or taken off entirely. Backsplash tile, paint color, and lighting can all be changed inexpensively down the road. You don’t want to pass up a fantastic house because of brass bathroom fixtures.
At this point, you should have a combined list of 10 or so items.
Now ask yourself, would you be willing to give up item number 4, say, to have item number 5? Would you be willing to give up hardwood floors for an extra bathroom? These can be the hardest questions to answer, but it’ll put your must-haves in the right order. Pool or flooring? Flooring or yard size? Yard size or square footage? Make sense?
As you’re out looking at houses, keep your list handy. It’s good to have the list available to remind you of what’s really important.
Here are some questions to ask during your search:
- What do I want my home to be close to?
- How much space do I need and why?
- Which do I value more: location or size?
- Would I be interested in a fixer-upper?
- How important is home value appreciation?
- Is neighborhood stability a priority?
- Would I be interested in a condo?
- Would I be interested in new home construction?
- What features and amenities do I want? Which do I really need?
Best of luck!
Tatiana
