Balancing Your Needs and Wants as a Homebuyer

Balancing Your Wants and Needs as a Homebuyer

Though there are more homes for sale now than there were at this time last year, there’s still about 43% less houses available than in 2019, pre-pandemic. The current housing shortage has an impact on how you search for a home right now. With limited options on the market, buyers who consider what’s a necessity versus what’s a nice-to-have will be more successful in their home search.

The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll put your list together. After all, you don’t want to fall in love with a home that’s out of reach, or while rates are still lower than in most normal years, you don’t buy enough house and rates rise.

 Once you have a good grasp on your budget, the best way to prioritize all the features you want and need in a home is to put together a list.
Here’s a great way to think about them before you begin:
•    Needs: Must Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle, so no need to look at these.
   Wants: Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender.
•    Dream – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner.

Finally, once you’ve created your list and categorized it in a way that works for you, we will discuss it and help you refine it further, and coach you through the best ways to stick to it while we find your home. Remember… prioritizing what you need in a home by making a need and want list is a critical first step the buying process. 

Work With Us

We go above and beyond to talk with you about your wants, needs, fears and whys. We will work tirelessly and share our innermost knowledge of the market and help you achieve all the goals you have set. We firmly believe that if you are not left with an amazing experience, we haven't done our job.

Contact Us