Tips for Creating a Home Buying Wish List
Buying a home is likely to be one of the largest purchases that will be made over the course of one’s lifetime. So finding the right home is super important. No pressure, right? Really, there shouldn’t be. But before starting the search, potential home buyers should create a “wish list” of sorts to help them determine their priorities, their needs versus wants, and their non-negotiables.
Making a checklist of sorts can be incredibly time conserving because automatically, based on the home buyer’s criteria, certain homes that don’t fit those criteria can be weeded out before even going to check them out. Putting together a list with other decision makers in the house (spouse or other family members) can also ensure that everyone is on the same page when it comes to those needs and wants. Another bonus to making a wish list is it can help the home buyers develop their budget for their future home.
When sitting down to create this wish list, break it down into three categories — Must haves, wants and extras. Must haves are those non-negotiable items including the number of bedrooms or bathrooms, whether or not the backyard has a pool or if the home is nearby to schools and other conveniences. Wants are the things that would be really nice to have or even that could be added later, such as upgraded appliances. The extras are things that don’t really apply to the home buyer’s individual circumstance but could be considered in the overall value of the home, which is nice to have for resale opportunities down the road.
Home buyers can consider their current living situation to help them build out their home buying wish list. It can be helpful for them to think about what they love about where they are living and what they don’t love. For example, living on a quiet street without a lot of traffic is a major perk, but being limited to two bedrooms for a family of four might be a little tight. So when creating that wish list, more space and a neighborhood away from traffic would be on the non-negotiable list.
Home buyers can get this process off on the right foot by meeting with their trusted Realtor to discuss what they’re look for and a realistic plan to help achieve their home buying dreams. Libertas Real Estate agents are highly skilled at helping their clients find the right home for them.