How to Balance Wants vs. Needs as a Homebuyer

wants vs. needs as a home buyer

Because the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. However, if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs. Figuring out your wants vs. needs as a homebuyer is easier than you might think.

Get Pre-Approved

Pre-approval helps you better understand your budget, and that plays an important role in how you’ll craft your list. After all, you don’t want to fall in love with a home that’s too far out of reach. At the Ultimate Lending Team, we can pre-approve you quickly so you’ll know what’s in your range and be able to get out there to find your new home.

Make a List

Once you have a good grasp of your budget, you can begin to list all the features of a home you would like. Here’s a great way to think about them before you begin:

  • 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 that 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 the these, it’s a contender (examples: a second home office, 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: farmhouse sink, multiple walk-in closets, etc.).

Talk to the Experts

Finally, once you’ve created your list and categorized it in a way that works for you, come and discuss it with the Ultimate Lending Team. We’ll be able to help you refine the list further, coach you through the best way to stick to it and find a home in your area that meets your needs.

Crafting your home search checklist may seem like a small task, but it can save you time and money. It’s also one of the keys to being successful in today’s competitive market. Connect with the Ultimate Lending Team so we can work together to find a home that fits your wants and needs.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top