Not Having a Clear Idea of One’s     Needs and Wants

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Once a buyer has a clear understanding of financing options and the price range they can afford given their resources, the next item of business is to have a clear idea of their needs and wants.  Too many buyers just go out looking at homes without a clear understanding of what they really are looking for. 

We recommend that you sit down and list the specifics of what you need and what you think you want as well as features that would be considered pluses and those that would be considered minuses. 

If more than one person is involved in the purchase we suggest that each of you do your own list and then come together to compare and combine them into one list. 

Start with the basics: 

• How many bedrooms?
• How many bathrooms?
• How many car garage? 
• What style of home?
• What general location?
• What age of home? 

Then go into more specific options that you would like, such as:

• Swimming pool?
• Fenced yard? 
• Fireplace?
• Finished basement?
• Air Conditioning? 
• Hardwood Floors? 
• Porch and/or Deck?

Another idea is to list “why” a particular feature is important to you.  For example, you may desire three bedrooms.  Yet, one  so-called bedroom is intended to be used as a den or office.  So perhaps a two bedroom home with a separate den-office would meet your needs.

It is also important that you separate “needs” from “wants”.  For example, you may want a two and a half car garage but really only need a one and a half car garage.  The two and a half car garage would be a real plus, but if the home with a one and a half car garage meets your other needs it may end up being the home you most desire.  After all, you might be able to expand the garage into a two and a half car garage within your budget. 

A caution is in order.  You need to keep your options as open as possible.  If you restrict your search to the absolute ideal home you may not have many to choose from and you may become very frustrated and stressed out with the process. 

Buyers need to stay flexible in order to have a sufficient number of homes to look at.  Search only on the very minimum of features that you consider absolute musts.  Stay flexible on the rest.  The ideal home probably doesn’t exist out there.  Yet, there are many homes that will come close if you remain flexible.

Next; Not Setting Realistic Goals