Did you Write Your Wish List?

So you’re interested in buying a home. You’ve started scouring sites like Zillow and Realtor.com and even going to a few open houses on Sundays.  And admit it.  Every now and then you watch some of those HGTV shows.

But - have you written down your wish list?  Below is a series of questions that a Realtor might ask in order to get a better idea of what you’re looking for:

What’s your price range?  There are a lot of additional expenses that go into purchasing a home such as HOA costs, PMI and taxes.  It’s best to speak to a knowledgeable lender to determine what price range you’re comfortable with.  Remember you’ll also need a down payment and funds to cover closing costs…do you have that figured out?

Where do you want to live?  The area that you choose is probably the most important aspect of your search.  It will determine how long a commute you have to work, where your kids will go to school, and what amenities you’ll find in your new community.

What’s your time frame?  Do you have a home to sell before you can buy?  Are you locked into a lease? 

Do you want a condo, town home or single family?

How many bedrooms and bathrooms do you want / could you be okay with? (Yes - these are two different questions)

What features do you want in your new home?  Updated kitchen?  Large master bath with separate tub?  A fireplace?  A bedroom and full bath of the main level for in laws?  A garage?  An enclosed backyard? Hardwood floors?  A deck?  An awesome basement?  What do you dream about?

What are deal breakers?  Backing to another home or to a road?  Wrong school district?  No yard?  Nothing less than four bedrooms?  Not close enough to work or transit?

Is living by a Metro station important to you?  Do you need to be near a bus line or supermarket?  Are you okay with a home that needs a little updating if the price is low, but close to work?  How much updating are we talking about?  Remember it’s not that difficult or expensive to throw a fresh coat of paint over those grungy blue walls.

I know.  I know.  These are a lot of questions!  The truth is you probably won’t find a home with all your criteria unless you have an unlimited budget.  For example…maybe you’ll find a home in the neighborhood and school district of your choice, well within your budget, but the bathrooms are not updated.  Is that home something you would consider?  Maybe the home we’ve found for you is great except there’s no deck.  Can you live without having a deck on your home until you can afford to have one built?

If you’re considering purchasing a home start making your wish list while you’re watching those HGTV shows.  Try to have a good idea of what you absolutely must have, and what you can live without, before you’re shown 100 homes that don’t fit your needs.  Your time is too valuable and you’ll get frustrated and overwhelmed.  And that’s not good for anybody!!