Setting Expectations – Needs vs Wants when Home Buying

Sep 2, 2022
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โœจSetting Expectations โœจ Needs vs Wants โœจ

Once pre-approval is obtained, the next step in the home buying process is to identify two things:

๐Ÿญ. What do you ๐˜„๐—ฎ๐—ป๐˜ in a house?
๐Ÿฎ. What do you ๐—ป๐—ฒ๐—ฒ๐—ฑ in a house?

Hereโ€™s a simple definition between the two:

โœ”๏ธ NEEDS are the non-negotiable features, or the features you simply ๐˜ฎ๐˜ถ๐˜ด๐˜ต ๐˜ฉ๐˜ข๐˜ท๐˜ฆ in your next home. These are things that you typically can’t change after you move in (or it would be too expensive to do so), such as square footage, number of bedrooms, location, garage, etc.

โœ”๏ธ WANTS are the things youโ€™d like to have, but you can add or change down the road, such as a fenced-in yard, hardwood flooring, white kitchen, his & her master bedroom closets, or a finished basement.

With your budget in mind, you may need to forgo some of the wants. Unsure what’s reasonable and whatโ€™s not in your price range?

This is where your real estate agent comes in. A strong & knowledgeable agent will know the area, what homes are currently selling for in your market, and how much added features โ€” like an additional bedroom or a pool โ€” should add to the price.

Not sure where to start? Let’s chat!

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Thinking of making a move, getting into the market or finding that perfect investment property, reach out to me today and letโ€™s get you going on your journey!

Carla Corsi, Broker
RE/MAX Realty Enterprises Inc.