Being Realistic About Home Needs & Wants

You have decided to buy a new home and are very excited about starting to look for that perfect dream home.  You may have certain needs that you just can’t imagine not living with but there are going to be some desires that you will have to let go of because you just won’t be able to afford them.  

Before you start looking for that perfect dream home your search you should some time on giving some thought and making a list of what you need and what you want in your new home...   Are there things in your new neighborhood or home that you just wouldn’t be able to compromise on?  
 

Budget

Before you actively start looking for a home knowing your budget will help you decide which of your desired home features should stay on your need and want list.  Before you start looking at homes you should ideally get yourself pre-approved for a mortgage.  There are a number of benefits in doing this such as:

• If interest rates are at an old-time low you lock in the rate and if rates drop you will still get the lower rate.  
• Second, this will provide you with a budget that you will need to stay within when searching for your dream home.  So you don’t waste time looking at homes you can’t afford.

• Where do I want to live? (Which communities or general areas would work?)
• Is being close to schools important and does the quality of local schools matter to me?  Are there good local public and/or private schools?
• How far are you willing to commute to work?
• Do you need to rely on public transit and what is the local public transit like?
• Which amenities do I need to be close to? (Grocery store, gym, medical facilities, shopping, other)

• - Do you want a new home or an older home?  There are benefits in purchasing either a new or older home. - - With an older home, there will be things such as a fence, air conditioners, appliances, the basement may be finished; the home may be on a larger lot, etc.  With a new home, everything is new and you most likely will not have to worry about such things as a new roof, windows, etc.
• - What style of home do you prefer? (detached, semi-detached, townhome, condo, bungalow, multi-level, other)
• - How big a home do you want?
• - What type of lot would you like? (small yard, large yard, garage or garages, patio/deck)  Do you enjoy gardening, maintaining grass, and shoveling snow?
• - How many bedrooms?
• - How many bathrooms?
• - Do you need an eat-in Kitchen?

• Which features are important must-haves in your new home? (Hardwood floors, family room, separate dining room, office, den, library, finished basement, separate laundry room, fireplace(s), modern kitchen and bathrooms, exercise room. Swimming pool, other)
• Do you have a pet? (Fenced yard, large hard, mudroom)