Buying a House: Know Your Needs and Wants

September 15, 2020


Buying a Home: Know Your Needs and Wants

Buying a house can often be exciting and overwhelming, and it can be tempting to snag the first home you feel a connection with. Unfortunately, this kind of impulse buy can lead to some serious buyer’s remorse. 

Exercising a little patience, and taking this checklist of needs and wants into consideration, can go a long way to helping make sure your purchase is smooth and successful (with no buyer’s remorse). 

The potential of renovations when buying a house 

First, take a step back and decide if the house you’re looking at needs any renovation. Then, be honest with yourself and decide if you’re really capable of doing it yourself, or if you would need to hire outside help (an added expense). And also don’t overestimate the potential of the house. In other words, figure out whether the necessary renovations are really worth your time and expense. If the cost of the house, with the additional cost of any renovations, puts the home’s value significantly higher than other houses in the neighborhood, the renovations probably aren’t the best investment for you to make. 

And think twice if the kitchen in the house needs major renovations. Unlike most other rooms in the house, such as a bathroom, you don’t have a spare kitchen to use while yours is under construction. If you’re planning to tackle a major kitchen renovation while living in the house, you may want to reconsider.

Also, keep in mind that the little things add up. Many buyers get swept up in a pretty and clean new home, which makes it easy to overlook the details that can easily add hundreds or thousands of dollars to your move-in costs. For instance, if you move into a home that’s exceptionally pretty but has old windows, keep in mind that you may soon be replacing 20 or more windows — at $200 each (or more). 

As you walk through, pretend that you live in the home and try everything out. Turn the lights on and off, flush toilets, run the shower, go through the motions as if you’re prepping dinner, and try to fit your car in the garage. This may sound like a silly step, but it’s the little things that tend to irritate homeowners day in and day out. 

Lastly, think long term. While the average American tends to move every six years or so, you should plan as if you’ll stay in your home long term. If you have small children, a nursery or playroom may be high on your list of priorities now — but down the road, you’ll be more thankful for a bedroom where you don’t hear their loud music blaring. 

Consider the size and storage before buying a house

It’s easy to get stuck in the “now” when shopping for a new home. If you’re a young couple or only have a small child, it may seem like that two-bedroom condo is a perfect choice. But what if, down the road, you decide to have another child or that you’d really like to have a home office? Buy now with the anticipation of growth in the future. 

Also, a staging trick that often makes homes look immaculate is to remove some of the furniture. Before you fall in love with a house, take a step back, and really look at the space. Measure your largest pieces of furniture and then bring a tape measure along with you to make sure everything will fit. 

And keep in mind that running out of storage room is high on the list of reasons why people decide to buy a new home. Yet somehow, when people are shopping around for homes, they tend to forget to think about all of the “stuff” they’ve accumulated in the basement, attic, garage, and more. Estimate how much closet and storage space you have now and use this to anticipate how much space you will need in your next home. 

By spending some time in the home and around the neighborhood, you can help ensure that you find a home that you’ll be happy in for years to come. At Reali, we offer a home buying process you can trust. 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. 

Whether you’re looking to buy a home or need to sell your house, contact us today to learn more.

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