Purchasing a home, whether it’s your first or you already own, will be one of the biggest financial transactions of your life. This roadmap will walk you through the basics of the process so that you are better informed as you move forward. However, nothing beats the guidance of a professional Realtor so if you feel you are ready to begin searching for that perfect home then give us a call and let’s get started!
Why do I want to buy?
Are you tired of renting? Do you need more space? Perhaps you finally just want a home that you can call your own? There are 1,000 reasons to buy a new home and determining your motivation, needs and desires is the first step in the process.
Take a moment to sit down and make a list of why you feel you are ready to purchase a new home and the reasons why you want to. This will help you stay focused on your main goals and overcome the natural fears that many buyers feel when purchasing a home.
What do I want in a home?
If you feel that purchasing a home is the right move that’s great! Now you need to determine exactly what it is that you want to have and where. If you have defined specific criteria it will save you time and frustration as well as helping your Realtor to better understand exactly what you’re looking for as they guide you through the process.
Make a list of everything you want in a home. Do you want to be in a specific area close to your work? Do want to have a single family home with a yard? Do you want a finished rec room in the basement? Write down everything that you want to have so you can more clearly define exactly what you’re looking for.
What do I need in a home?
But I thought I just answered this? Not exactly. There is a distinct difference between you wants and needs for your new home. Your wants are your wish list for the perfect property. Your needs are the things that you must have. Unfortunately, these don’t always line up and most times it is due to your budget.
Once again, take a moment to sit down and write the things you must absolutely have in your new home. Do you need that 4th bedroom or would it just be nice to have? Do you need to have a single family home with a yard or would a townhouse work as well? Do you need to be in a specific area near work or would you commute a bit further for a better home? For every ‘want’ that you have ask yourself, “do I really need this?" If not then it will just be a great bonus if you find it but you won’t get hung-up on the details. This will allow you to focus your time and energy to find the home that meets all of your needs and hopefully most of your wants. Going into the home buying process with realistic goals and expectations will make the process much smoother and stress-free. Once you have completed these steps you can move onto the next phase of finding your new home.