Prioritizing your needs helps you set realistic expectations. Below we highlight tips on how to prioritize your must-have list when shopping for a new home.
List Your Top Priorities
First, you need to picture your dream home. This is the first step in determining what you want. Then, list everything you desire: whether it’s a pool, a marble counter-top, or a guest house. If the decision concerns more than one person, allow everyone to create their list. Sit down, compare, and incorporate the common ideas into a new, smaller list.
Once you have a complete list, carefully review each item to determine whether it is a need or a want. Ask yourself if you would compromise on any item. If so, mark it as not a top priority. Use the final list of your top priorities to consult with your real estate agent.
Focus on What Can’t Be Easily Changed
To help you make a decision, imagine how you’re going to use the space in your new home. Do you really need a huge backyard, a private balcony, or a fifth bedroom? Only focus on what you can’t change. For example, you cannot change the location of the house or the size of the backyard. Yet, you can change the color of the walls, kitchen countertops, and landscaping after you move in.
Work Within Your Budget
It is ideal to set your home pricing expectations as early as possible. Start by using a mortgage calculator. Then, follow up with a licensed mortgage loan expert within your state. Your mortgage expert will compute your recommended gross monthly income after including property tax, loan fees, mortgage, and house insurance. All this helps you budget your living expenses and your mortgage.
Think About Value
As a future homeowner, you should strive to increase the future resale value of your home. The location of the house is a critical factor to consider. Marble countertops, hardwood floors, and bay windows are other examples of features that add value to your home. Consult with an agent, like Vickie Gallimore: RE/MAX Central Realty, on what valuable features to look for when buying a house.
It takes a lot of time and energy when searching for your perfect home. Therefore, consider the above tips to refine your must-have list when house hunting. Remember to stick to your preference and go for what you really want.