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Needs Versus Wants

As a new homebuyer, there are certain features that your home just has to have to be comfortable. It has to be the right size, have sufficient bedrooms and bathrooms, be in a desirable location, etc. However, those things differ from person to person. Below will help you prioritize your needs versus your wants and it will help you with your home search criteria.


Distinguish needs from wants:

What you require in a home is different from what you would like to have. Once you’ve identified what you have to have to live comfortably you will have a much easier time finding that home at the price you can afford.

What are your Must Haves?

Think about what it is you have to have in a home. Consider such things as the size (how many square feet) and how many bedrooms and bathrooms you need to accommodate you and your family. Also, decide what type of home you’d like (ranch, two-story, townhouse, etc.). Does it need to have a yard? If so, how big?

Make a list of these things and include what you need in terms of:

  • Space
  • Size
  • Storage
  • Location
  • Lifestyle amenities

Then, within reason, add a few of the things you’d like to have such as a home on the golf course, a three-car garage instead of two, etc. This will also help eliminate wasted time looking at homes that don’t meet your needs.

Once you’ve done this, you can look for homes that have all your needs and as many of your wants as you can afford.

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