Balancing Your Wants and Needs as a Homebuyer Today

Hey friends, since the number of homes for sale is low today, even in our local North Alabama market,  it can feel challenging to find one that checks all your boxes. But 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.

Danielle Hale, Chief Economist for realtor.com, explains it like this:

“Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.”

So how do you go about creating your list of desired features? The first step is to get pre-approved for your mortgage. 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.

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.).

Bottom Line For This Topic

Crafting your home search checklist may seem like a small task, but it can save you time and money. I have seen it done and forgotten by many of my home-buyers and even sellers.  It’s also one of the keys to being successful in today’s competitive market.

Friends, let’s connect so we can work together to find a home that fits your wants and needs before interest rates keep climbing up and the housing market you can afford increases in price. When hunting for a new real estate property or selling your current property, you definitely need a Real Estate Professional with experience, knowledge, detailed oriented and fully committed to his clients like John Wesley Brooks and The Brooks Family Of Realtors.