Your Needs vs Your Wants When Searching for Your Dream Home


12.5.14 Wants vs Needs
Ready to move and excited about the prospect of getting “everything you ever wanted” in a home? Of course, that’s where we all start, but budget and other realities soon factor in.

So how do you make your dreams come true without breaking the bank?

The key is setting a realistic budget – and understanding the difference between what you want and what you need.

Start by sharing the information below with your Allen Tate Realtor to help determine what you can afford, your preferred location, home size – and what your expectations are.

  • Budget – Get pre-qualified now to determine what monthly mortgage payment you can afford and loan amount you qualify for.
  • Location – Do you want to be close to work and/or school? In urban, suburban or rural area?
  • Size and type of home – How many bedrooms, baths, etc. Single family, townhome or condo?
  • Condition of home – Are you looking for a fixer-upper, new construction or an existing home in top condition?

The next step is to create is a simple list regarding the amenities you want. This exercise will help you and your Realtor set priorities:

  • Don’t Want
  • Like
  • Need
  • Must-Haves

Be sure to include everything you’ve ever dreamed about – maybe granite kitchen countertops, a wood-burning fireplace, a three-car garage, a four-person whirlpool, the best school district in the city and other features. Then decide where these amenities belong on the list. Also include the deal breakers – a two-story home, corner lot, busy street, etc.

By prioritizing the amenities on your list, you and your agent will get a clear picture of what you might be willing to trade off for the right location.

By helping your agent play matchmaker between you and your next home, you’ll hopefully find the home with what’s most important to you – and a few pleasant surprises as well.

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Phyllis Brookshire
President, Allen Tate Realtors®

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