Wants vs Needs?
Buyers who try to get everything may end up not getting a home at all! Dividing your desires into the two lists (wants vs needs) will force you to reveal to yourself what is truly the most important quality in a home. This allows you to start your home search based on your highest priorities and save you endless time and frustration. Look at your list of what is important in a house carefully.
The definition of a “Want” is something you’d like to have. These are things that can easily be changed in a home, such as:
- Paint and Carpet
- Crown molding
- Deck, pool, hot tub
- Hardwood floors
- Tile floors
- Remodeled kitchen or baths
- Fireplace or wood stove
- Newer windows
- Landscaping
On the other hand, a “Need” is anything that you absolutely must have. These are things that you cannot easily change. Examples would be:
- Enough space for your lifestyle
- Number of bathrooms
- Garage parking spaces
- Number of bedrooms
- Yard size
- Location
- Schools
At first, Wants will try to sneak into your Needs list! A great home buying tip is to be tough with yourself now to make it easy later. Remember, this is your first home, you’ll get more of your “Wants” in your next home. You need to focus on wants vs needs.
Can’t seem to find what you want in a home? Go back and look long and hard at this list.
If you have trouble finding what you are looking for in a home, you really only have two choices, pay more, or reduce the number of “Wants” so you can get a home that fills your “Needs.” These tips for buying a house should make the process much easier for you.
Even people who buy million dollar homes can’t get all of their “Wants” in a home!