March 5, 2021
4 MINUTE READ
When you’re buying a home, it’s important to make sure that you select the right one. After all, it is often the biggest and most important purchase that you will ever make. But between the home itself, the location, and your budget, it’s easy to see that there are a number of variables to consider.
And once you add in the emotional aspect of buying a home, it can become easy to lose sight of what is really important — and even ignore major flaws in the home.
Before we get started, it’s important to take a moment to really define what we’re talking about when we talk about needs and wants. Needs are essentially deal-breakers when it comes to your home search. Maybe you want a traditional single-family home and wouldn’t consider a condo (or vice versa). Or maybe there’s a particular neighborhood that is the only one you are willing to consider. Perhaps you need at least 3 bedrooms to accommodate you and your children. Whatever the case, needs are essentials that would be, at the very least, very hard to change.
Wants, on the other hand, are optional — at least to some degree. Most often, these are the kinds of things that you would ideally like to have in your home, but you can live without them or possibly even add on in your home later. For instance, maybe you’d like to have all new appliances. But if you find the otherwise perfect home at the top of your price range, you’d be willing to settle for mediocre appliances for a few years.
And then there’s the “don’t care” items. These are features of the home that are irrelevant to you or your lifestyle. Let’s say you work at home. If this is the case, you won’t need to factor in commute time in your home search. And if your family only has one car? That big 3 car garage won’t matter to you much either way.
With this in mind, we thought we would put together a list of questions to as yourself, to help better understand what you need (and want) in a home. Read on to find out more.
Do I really want to live here?
This one seems obvious, but it’s the first question you should ask yourself. After all, this is a place you could potentially call home for many years to come, so it’s important to take some time to think of you really want to live here. The house, the neighborhood, the city — it should all be a good fit for you and your family.
Is this a good value?
A house is more than just a place to live; it is also a large financial investment. Make sure that the home you’re considering is a good value. The home should be priced fairly according to its appraised value. Keep in mind that if the appraised value of the house comes back less than the sales price, the bank won’t approve a mortgage for more than the home is worth.
Is this a good place to raise a family?
If you already have children, this is obviously a question you consider. However, even if you don’t plan to have children for a few more years, it’s important to stop and think if you can envision raising a family in this home. If you can’t, and if a family is on the horizon, you may want to keep looking. You can also search online to learn about the local area, including the school system.
Do I need to remodel?
When looking for your new home, take into consideration whether or not they need to be remodeled. Even if it just needs cosmetic updates, the costs can add up quickly — and can easily push a home that’s already at the top of your price range out of reach.
When was the home built?
Everything may appear in good working order now, but you’ll want to keep in mind when the home was built. For instance, homes built before 1978 often have lead paint, which can be hazardous to your health. Also, major appliances in the home, such as the HVAC unit and the kitchen appliances, don’t last forever — so don’t forget to factor in the average lifespan of big-ticket items in the home.
You might also like our recent blog: 8 Ways to Know if a House is Right for You.
At Reali, we offer a home buying process you can trust — and we know how to help in your real estate search. Our agents are experts in their fields, and we offer proprietary technology that can help you win the home of your dreams — at a price you can afford. Contact us today to learn more.