Spiroview Inc. / Adobestock
Shopping for a new home can be so overwhelming that it can be difficult to know where to start. It’s essential to have a great real estate agent and apply for a loan preapproval, but before you jump into looking at homes online, it’s also important to know what the must-haves are in your next home. Get started by creating your dream-home wish list.
Know What You Can’t Live Without
Get out some paper and a pencil and jot down everything you want in a home. If you have a partner, you should each have your own list.
When you have completed your home purchase wish list, take a look at each item. Ask yourself, “Is this something I really need in order to enjoy life in my new home?” Then get rid of anything that you know you can do without yet still be content.
The Tough Decisions
Now it is time to prioritize the wish list. The top two items should be those items you will not compromise on, as living without them would make you miserable. For some folks that might be a gourmet kitchen or space for a garden. The bottom two items should be those that you are willing to compromise on.
Now compare your home purchase wish list with your partner’s. Anything that is on both of your lists is a priority and should probably be moved to the top. Inevitably, though, there will be items each of you will need to compromise on; thus, the “bargaining chips” at the bottom of the list: the “I’ll give you the garage in exchange for the fireplace” type of thing.
It’s Not Set in Stone
One thing that may surprise you is that this list will change as you begin to actually view homes. You might discover a feature in a home that you hadn’t considered when you wrote the original list. Real estate agents will tell you that what some buyers say they absolutely need to have in a home frequently falls by the wayside, leaving the agent to reevaluate their buyer’s wish list. So, don’t feel as if this list is set in stone, but do keep your agent informed when there are changes.
The wish list works well to help cut down your confusion when presented with an array of homes to view. It also helps your agent remain focused and not waste everyone’s time by showing you homes that don’t fulfill your desires.
Looking to buy a new home or sell your current home? Mortgage rates are still historically low, but they are rising. Contact me today!
