First Time Home Buyers: Create your Wish List
If you are about to make one of your biggest long-term investments you should at least make sure it’s a purchase that you absolutely love, right? Spending a bit of time upfront to identify the must-have’s, the nice-to-have’s, and the can live without items will go a long way when deciding to make an offer on a home. Breaking it down to the different areas of your home will help organize your wants. Thinking about the interior, exterior and general usage of your home are the best ways to organize the wants and needs of your home.
Having a wish list and knowing what your home must have will allow you to more efficiently find the homes that fit your needs saving you time and energy. Narrowing down the location, the type of home, features, and the price range reduces the number of open houses you go to and allows you to make a more informed offer on a home you fall in love with.
Tip: Use Pinterest and other social marketing tools to begin gathering ideas of what you like.
General – How long do you plan to live there? The long you plan to stay, the more life changes you’ll need to plan for. Do you have or plan to have kids? Consider schools, bedrooms, playroom, yard size, parks. Want a fixer-upper? Do you have the time, commitment and money to finish the project? Is a new home or older home best for you? Do you need to be near public transportation? Will you like or dislike a HOA?
Exterior – Will parking for guests be necessary? Is a garage a must? Need a large yard or will maintenance overwhelm you? Is a pool or hot tub a plus or minus? What home styles are ideal and which are a definite no? If you need a fenced yard, can you afford to build one? Is a lot of landscaping or gardening good or bad?
Interior – Do you like or dislike basements? How many bedrooms/den/office space you’ll need? Are there floorplans or styles that you dislike? How many bathrooms will you need over the time you’ll own the home? Consider kids, roommates and overnight visitors? Can you afford to do cosmetic work such as carpet and paint? Do you like or dislike a wood stove or fireplace? Is your energy provided by electricity, gas, or a combo? Are hardwood floors, tile or carpet most ideal?
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Interested in buying a home but don't know where to start?