​Home Buying Needs Vs. Wants

Home Buying Needs Vs. Wants

One of the first steps of buying a home is to sit down and create a list of “needs” and a list of “wants”. This list helps narrow down the type of home that’s best for you, but it also serves as a grounding mechanism later in the process. It’s easy to become emotional and lose sight of what’s important when viewing homes, which is where the lists will help you focus on the priorities.

Needs

Needs are typically things that can’t be changed later on. Examples include:

Location
Size
# of Bedrooms
# of Bathrooms
Yard
Garage/Basement
Nearby schools

Wants

Wants are the things that are “nice to have”, but can usually be modified at a later date or in a future renovation.

Flooring
Paint Colors
Window styles or skylights
Pool or jacuzzi tub
Granite kitchen counters
Built in appliances

The right home for you should match all of your needs and some of your wants. You may also find that as you tour homes, your list becomes more refined—perhaps the size you originally desired seems too small or you realize something new that’s important to you. Feel free to revise this list as needed to narrow down properties that are right for you!