2019-06-26
Before You Look for Your Dream Home: Know What You Want vs. What You Need!

Before You Look for Your Dream Home: Know What You Want vs. What You Need! | MyKCM

In this day and age of being able to shop for anything anywhere, it is really important to know what you’re looking for when you start your home search.

If you’ve been thinking about buying a home of your own for some time now, you’ve probably come up with a list of things that you’d LOVE to have in your new home. Many new homebuyers fantasize about the amenities that they see on television or Pinterest, and start looking at the countless homes listed for sale through rose-colored glasses.

Do you really need that farmhouse sink in the kitchen to be happy with your home choice? Would a two-car 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 should 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.

The next step is to list all the features of a home 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).
  • “Should-Haves” – if the property 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 fleshed out before starting your search will save you time and frustration. It also lets your agent know what features are most important to you before they start showing you houses in your desired area.


 Subscribe to RSS Feed
Welcome to our Blog!
2020-03-20
A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]

2020-03-19
Are We About to See a New Wave of Foreclosures?

2020-03-18
Three Reasons Why This Is Not a Housing Crisis

2020-03-17
Two Big Myths in the Homebuying Process

2020-03-16
5 Simple Graphs Proving This Is NOT Like the Last Time

2020-03-13
Buying a Home: Do You Know the Lingo? [INFOGRAPHIC]

2020-03-12
Yes, You Can Still Afford a Home

2020-03-11
Confidence Is the Key to Success for Young Homebuyers

2020-03-10
Equity Gain Growing in Nearly Every State

2020-03-09
New Homes Coming to the Housing Market This Year

2020-03-09
The Difference an Hour Makes [INFOGRAPHIC]

2020-03-06
Impact of the Coronavirus on the U.S. Housing Market

2020-03-04
Real Estate Is Soaring, But Not Like 2008

2020-03-03
How Interest Rates Can Impact Your Monthly Housing Payments

2020-03-02
How Your Tax Refund Can Move You Toward Homeownership This Year

2020-02-28
10 Steps to Buying a Home [INFOGRAPHIC]

2020-02-28
How Much “Housing Wealth” Can You Build in a Decade?

2020-02-26
Thinking of Selling? Now May Be the Time.

2020-02-25
Entry-Level Homeowners Are in the Driver’s Seat

2020-02-24
Opportunity in the Luxury Market This Year

2020-02-21
Interest Rates Over Time [INFOGRAPHIC]

2020-02-20
The #1 Misconception in the Homebuying Process

2020-02-19
The Many Benefits of Aging in a Community

2020-02-18
How Trusted Professionals Make Homebuying Easier to Understand

2020-02-17
The Overlooked Financial Advantages of Homeownership

Click here to see ALL articles.




Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.