Know Your Wants vs. Needs Before Buying a Home

If you’ve been thinking about buying a home in Northern VA, you should make a list to know your wants vs. needs before buying a home. Many homebuyers fantasize about the amenities that they see on HGTV, Pinterest, or Houzz.com. Unfortunately those homebuyers start looking at the countless homes listed for sale through rose-colored glasses.

Do you need that farmhouse sink or pocket door in the kitchen to be happy with your next home? Would a garage be a convenience or a necessity? Could the ‘man cave’ of your dreams be a future renovation project instead of a make-or-break right now?

The first step in your home buying process in Northern VA MUST be getting pre-approved for your mortgage. This allows you to know your budget before you fall in love with a home that is way outside of it. Norther VA home sellers will not even consider an offer that is not accompanied by proof of financing or cash!

The next step is to list all the features and finishes that you would like, and to qualify them as follows:

• ‘Must-Haves’ – if this property does not have these items, then it shouldn’t even be considered (ex: distance from work or family, number of bedrooms/bathrooms, bondage room or whatever you are into, no judgement).

• ‘Should-Haves’ – if the home, town home, or condo hits all of the ‘must-haves’ and some of the ‘should-haves,’ it stays in contention but does not need to have all of these features.

• ‘Absolute-Wish List’ – if we find a property in our budget that has all of the ‘must-haves,’ most of the ‘should-haves,’ and ANY of these, it’s the winner!

Bottom Line

Having this list before starting your home search will save you time and frustration, while also letting your agent, hopefully me, know what features are most important to you. Don’t be surprised if you have to make adjustments as you go, particularly for first time home buyers.