Creating Your Home Wish List

Creating Your Home Wish List

Before you start looking for a home, the real estate agent will want you to describe all of your desires and the features you want in your home. In order to help the agent, it is important that you analyze what you want, what you feel and what you desire in your dream home.

Why Budgeting is Important when Buying a Home

Buyers making any purchase decision imagine having millions of dollars in their pockets to buy their dream home. However, this is not the case for some buyers. Typically, when buyers want to buy a home, they can afford to buy a home worth three times their annual income, which can vary from country to country. Budgeting and identifying an adequate source and amount of money will help you narrow down your home search while it is important that you should talk to a professional and licensed mortgage specialist. A licensed mortgage professional will help you with the perfect calculation of the size and amount of loan required to fulfill your dream of buying the perfect home.

Choosing The Home Style That Suits You

Living in your current society, you must have developed or imagined your dream home and its style. Some of the main options that will appear in your mind will be single family homes; as they are more common and abundant in neighborhoods and cities. Other than that, there are condos and townhouses that are present in different urban areas. Choosing any type of house can have several disadvantages and advantages as well. For instance, one may find peace and freedom by buying a single family home while some may find condos to be more cost effective as they have low yard work and maintenance costs. Buyers are also reconsidering the purchase of a multi-story home versus a single-story home, depending on their desires. Since single-story homes are more compact and perfect for buyers who are subject to mobility restrictions, while on the other hand, some find multi-story homes as they provide more vertical space for households.

Identifying Bathroom and Bedroom Numbers

The number of beds and baths you choose depends on the size of the home you want to buy. The National Association of Home Builders found that a potential single-family home buyer will live in the same home for 13 years. However, you need to assess your current and future needs and plan for a number of beds and baths since you will be living in the home you want to buy for more than a decade.

Selecting Neighborhoods that are Well-Matched

You must be familiar with the saying “Location, Location, Location”. Having a well-matched neighborhood is a blessing, before making a purchase, buyers look for a dream neighborhood. The main reason behind this desire is related to have proper access and proximity to public transportation, airport, shopping and other facilities. However, one must not ignore the fact that finding your dream neighborhood is as difficult as finding your dream home. Showing flexibility in acquiring your desired neighborhood will help you have a wide range of prices and options for purchases.

Wish List Items for your Dream Home

Before you create a wish list for your home, you need to identify the basic needs that you want, desire, and need in your dream home. Facilities, amenities and household requirements that you wish to have may not meet your basic needs, but they can add value to the place where you can live a happy and enjoyable life. Each wish list item may differ in terms of the buyer, his or her needs, and the perceived importance of each item. One buyer may consider a formal dining room important, while another may want an extravagant library to utilize the space. Therefore, to create a wish list for your dream home, you should rank your priorities in order of importance.

1. AGE OF PROPERTY: The buyer has a wide range of choices from purchasing a newly constructed home to a historic home.

2. SQUARE FOOTAGE: You need to have an idea of the square footage before going for your home purchase.

3. INDOORS AND OUTDOORS: You should have an idea of what you want indoors or outdoors. From courtyard to no courtyard options, you have many choices.

4. FROM DINING TO STUDY SPACE: Need a study area? An Office? Or a Dining area? Think before you buy.

5. DESIGN AND STYLE: Try to imagine your home style? Colonial or Spanish? Bungalow or Ranch? Decide what architectural style you want and choose from a wide variety of styles.

6. TO REPAIR OR REPLACE: Buyers may or may not love a fixer-upper, while some love new DIY and cosmetic strokes. Choose wisely, because repair or disrepair cannot be worse.

7. CONVENIENCE AND AMENITIES: From hardwood floors to ceramic tile, and from modern kitchens to most American-style kitchens, you have many options for the amenities in your home.

The key here is to be able to identify your wants and distinguish them from your needs. Identifying your wants will help your agent understand them and help you find your dream home.