Real Estate Buyers Articles » House buying needs and wants

Date: 02/06/2013

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House Buying Needs and Wants

Similar to the list you develop to purchase groceries, why not develop your own list of needs and wants in a new home. This doesn't mean you can't have what you want in your home, but rather, that you have a priority list of the most important features.

You may not be able to obtain all the "want" items on your list, within your budget, but at least you and your real estate agent will have a clearer idea of what to look for. You may have to compromise on a few items to stay in line with your budget.

BathroomHere's a review of example needs versus wants,

NEEDS - could include:

  • Adequate square footage for comfortable living.
  • Sufficient bedrooms for your family
  • Sufficient bathrooms
  • Comfortable eat-in kitchen, pantry, bench space etc
  • Garage for storage needs either dlug or slug carport
  • Backyard for children's play area
  • Easy access to schools, shopping, public transport

WANTS - could include:

  • Specific carpeting, flooring, paint, exterior colour
  • Pool
  • Secure neighbourhood
  • Outdoor living areas
  • Great views
  • Close to amenities/ medical facilities

Try to establish a happy medium of your NEEDS and WANTS. That is, you'll want to look for a home that includes all or most of your needs, with as many wants as practical, while remaining within your budget. Once you have this information in hand, your needs will be clearly defined from your wants. Having this knowledge will establish a clear direction for your new home shopping.

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