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Buying Real Estate: Prepare: Determining Needs

Want to save a lot of aggravation and possibly a great deal of money when you buy a house? Spend a few hours determining precisely what your needs are before you begin your house search. Before you embark on your search for the perfect house, it is important that you make a realistic "shopping list" in an attempt to narrow your choices of properties. Hunting for a home can be a time consuming process, especially if you have not determined in advance the parameters of your search. Many home buyers make the mistake of misinterpreting a want as a need. As a result, they often dismiss homes that perfectly fit their needs in search for one that has their wants. This is not to say that you cannot have what you desire in your home--just that you must be able to differentiate between what you truly need and what you would like to have. Note, also, that in the examples below, many wants can be changed in a particular home (if the house doesn't have that feature now, you can change it later). Carpet color can always be changed in the future. Unwanted lighting fixtures can be replaced with more desirable ones when time and budget allows.

Examples of NEEDS

 

Examples of WANTS

  • Enough square footage for comfortable living
 
  • Carpeting color, paint color, exterior color, roof color, etc.
  • Enough bedrooms to accommodate your family
 
  • Pool or Jacuzzi (unless for medical reasons)
  • Adequate number of bathrooms
 
  • Wood floors
  • Eat-in kitchen
 
  • Bay windows
  • Garage or basement for storage needs
 
  • Built-in entertainment center
  • Lot size to accommodate children's play area
 
  • Brass lighting fixtures
  • Adaptation for Handicapped
 
  • Skylights
  • Proximity to a specific school
 
  • A pretty view

By taking a little time to determine your
needs and wants, you can save a lot of "house hunting" time and avoid homes that do not meet your criteria. To print out a reference sheet where you can make a note of your needs and wants, click here.

 

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