Evaluating Your Wants and Needs as a Homebuyer Matters More Today — NIC, THE REALTOR

When it comes to buying a home, especially considering the affordability challenges we face today, it's important to be strategic. The mortgage rates play a crucial role in determining the cost of borrowing money for your home loan. To cope with the higher borrowing expenses nowadays, many homebuyers are giving a careful thought to their wish list and re-assessing the essential features they truly require in their next home, so as to avoid stretching their finances too thin. In line with a recent article by NerdWallet...

“A pool, for example, may be nice to have, but it may not provide as much day-to-day value as a garage or a space for a home office . . .”

Before you dive headfirst into buying a home with a pool, take a moment to consider whether it's actually a necessity for your happiness. Sure, having a pool may seem tempting, but let's pause and think about what truly matters in your next home. Is the pool the driving force behind your move? Probably not. It's more likely that you're seeking more space, a dedicated home office, or a location closer to your loved ones, friends, or workplace that's pushing you towards a change. So, weigh up your priorities and ensure the pool is a must-have before you take the plunge!

If you're in the market for a new home, it's important to think about what you really need in your next house. Take a moment to make a list of all the must-have features you want. Once you have your list, try organizing the features into different categories. This will help you stay organized and focused on finding the perfect home. Here's a helpful way to structure your list:

  • Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).

  • Nice-To-Haves – These are features you’d love to have but can live without. Nice-to-haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of these, it’s a contender (examples: a second home office, a garage, etc.).

  • Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: a pool, multiple walk-in closets, etc.).

Once you've sorted it out in a way that suits you, have a chat with your real estate agent about your top priorities. Take your time to consider what's absolutely essential for your lifestyle and what would be a nice extra. Make sure to go over each feature with your agent, as they can assist you in narrowing down the list and guiding you on how to stay true to it. With their expertise, they'll be able to find a home in your desired area that fulfills your main requirements.

Bottom Line

When you're making a list of must-haves for your future home, it might seem like a small thing to do, but trust me, it's super important as you embark on your homebuying journey. So, if you're all set and eager to find a home that perfectly matches your needs, let's get in touch!



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