Determining wants versus needs when buying a house | Scott Johnson

Determining wants versus needs when buying a house

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When buying a house, it’s important to determine your “wants” versus your “needs.” The needs are your nonnegotiable priorities — things you must have, and your wants are the things that would be nice to have. It’s vitally important to determine your needs versus your wants, because chances are, you won’t find a house that has absolutely everything you’re looking for, in a perfect neighborhood, with perfect amenities. Determining this early will save you some heartache and headaches along the way.

When you meet with your agent, they’ll ask you a series of questions to get to know you and find out what’s important to you. Some questions may include:

“Of all the things you’re trying to accomplish in this move, what is the most important?”

“In your current home, what are the things about it that you like the best? Why?”

“What is your favorite room in a home? Why?”

“What style of home did you have in mind? Why? What do you consider to be the opposite of that style and how would that make you feel?”

“Considering all your family members, what requirements do they have? Why?”

“What hobbies and leisure activities do we need to consider?”

“Do you have any pets? Are there any special requirements?”

“Do you have any school requirements?”

By answering these questions, you and your agent will be able to glean several things; will you have multiple generations living in the home, requiring more than one kitchen? Will you need a house where you can put up a fence for your dog? Do you require an extra room with space for a treadmill? Determining these answers will help set the tone for your home search going forward.

One key thing to keep in mind? Consider the things you could change about the house overtime. For example, you can’t force a city to build a bike trail by your house, but if you don’t love your kitchen, you could renovate it!

Are you interested in starting your home ownership journey? Contact us today to find out more!