How to Distinguish your Needs from Wants When Buying a Home?

Finding a dream house for yourself is exciting and daunting at the same time. Indeed, many of you would resonate with this feeling. But whenever finding a home, one is unable to separate what they need from what they want.

This is where the problem usually lies. For instance, if you ever talk to a person looking for a home in Newton and ask them:

  • What do you want to have in your dream home?
  • What do you need in your home?

You will either get confused looks or vague answers that won’t match at all. But let’s be honest. What you need and what you want is different. Yes, you heard it! For instance, if you think about needs, you want a roof over your head, water supply, heat, and air conditioning, depending on the location. However, what you want is a four-bedroom with a garden and a pool.

So, if you are planning to find a home, you must distinguish your wants from your needs to get a better picture. Here’s how you can do it!


When Buying a Home


Needs vs. Wants: The Ultimate Checklist

First, you must envision your dream home. Is it a condo or an apartment? Does it have a huge plot? How much can you afford for a home? Once you have that in mind, then move onto the next thing.

Unlike what you think, needs are usually the deal breakers when finding new construction in Newtown, PA, as they allow you to choose the things that will help you lead a stress-free life. For instance, things like three bedrooms since you have kids or a single-family house, things like this won’t change. However, wants are optional. It could be a big want or a small want depending on your desires. These are usually things you can live without but want to add to your house, possibly later.

There could be another checklist in this which states “don’t care.” This stuff is usually irrelevant to you, but it could have a lot of significance in the future. For instance, commute time and parking. For example, you are working from home now and have no car as of yet. So, you need to be aware of your futuristic proposition when looking for your dream home.


When Buying a Home


What next?

Once you have your checklist ready, put together all the items you can’t sacrifice, keeping your current and future dreams in mind. Make sure to focus on things that add value to your home. That’s how you can make it valuable for yourself in the future if you happen to sell it.

Ideally, things that add value are usually granite countertops, hardwood floors, and a good landscaping. If you consult the right professionals, they will help you find features that are good for you.


Final Takeaways- Prepare a home buying checklist

Prepare a buying checklist to write down your needs, wants, and feasible budget to determine whether you need to sacrifice any wants to take care of your needs. Remember, you must be practical when buying a home. Don’t let a home buying process put a hole in your pocket.


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