Home Buying Needs vs. Wants
One of the first steps of buying a home is to sit down and create a list of βneedsβ and a list of βwantsβ. This list helps narrow down the type of home thatβs best for you, but it also serves as a grounding mechanism later in the process. Itβs easy to become emotional and lose sight of whatβs important when viewing homes, which is where the lists will help you focus on the priorities.
Needs
Needs are typically things that canβt be changed later on. Examples include:
- Location
- Size
- # of Bedrooms
- # of Bathrooms
- Yard
- Garage/Basement
- Nearby schools
Wants
Wants are the things that are βnice to haveβ, but can usually be modified at a later date or in a future renovation.
- Flooring
- Paint Colors
- Window styles or skylights
- Pool or jacuzzi tub
- Granite kitchen counters
- Built in appliances
The right home for you should match all of your needs and some of your wants. You may also find that as you tour homes, your list becomes more refinedβperhaps the size you originally desired seems too small or you realize something new thatβs important to you. Feel free to revise this list as needed to narrow down properties that are right for you!