Home-buying can become an overwhelming process. When you are evaluating multiple homes over a long period of time it can seem like an enormous task. To limit these frustrations and to make the process seamless, it's vital for home buyers to make a wish list at the beginning of their search.
This ensures you don’t lose track of what you are in the market for. It also helps real estate agents to narrow down and provide options on a client’s wish list.
Here are some things that you need to include in your home-buying wish list:
1. What are your Must-Haves?
While it would be a dream to find a home that meets every one of your criteria; this perspective is not realistic. Therefore, it is recommended to create a list of must-haves and then break them down further by priority.
Divide this list into three categories:
- Top Priorities: the things that you are not willing to compromise on
- Wants: amenities or features that are not a priority but would be a key factor in your decision-making process
- Wishes: these are factors that are in no way a priority but would be a great addition and would help your decision-making process if included in the house.
This list is helpful throughout the home-buying process as it helps you re-evaluate your priorities during your search and ensures your real estate agent is clear on what you want. The real estate agent would then be empowered to only show you homes that meet your expectations. This saves you a lot of time and energy.
2. Location
Location is one of the key factors when searching for a home. It's important to consider and draft your ideal locations. This is beneficial to your real estate agent who will narrow down your list and can also provide you with properties in your desired areas and provide alternatives you may not have considered.
The location will be at the top of your priority list, thus, you must consider the following factors:
- Areas close to your work
- Areas close to the work/schools of your family members
- Alternatively, areas within a reasonable commute to the places listed above
- A neighbourhood you have always wanted to live in
- An area with reduced crime and theft
- An area with regular access to water and electricity
- An area close to amenities and recreation/entertainment
3. Assess the Factors that You Can and Can’t Change
Creating a priority list is a great way to see the components that you are willing to compromise on. However, you must also consider what factors can and cannot be changed.
Over time your home will transform. Therefore, certain features that may not be favourable at the onset can be changed throughout the duration of your occupancy in that home.
Here are some things you can change over time:
- Flooring
- Changing to the floor plan (if possible)
- Space for an additional room
However, there are structural issues that can not be changed. These include but are not limited to:
- Square footage
- Not enough rooms and bathrooms and not enough outdoor space to build additional spaces
- Storage space
- Outdoor space
Need some help on your home-buying journey? Contact us here to learn more about how our team can help you!
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