How to Balance Wants and Needs as a Buyer

With the number of homes up for sale at a low, you may be struggling to find one that fits the one you’re dreaming of. But if you have determined what features are essential and which ones would simply be bonuses, you can find a house that suits your and your family’s needs. You must focus on the goal you’ve set for yourself, and distinguish your must-halves from the nice-to-haves. So, how can you balance these wants and needs as someone trying to purchase a home? The Jana Caudill Team offers insight. Speak to our real estate agents today to begin your home search. 

Create a Budget

Before you can purchase a home, you need to be pre-approved for a mortgage. The pre-approval process allows you to better understand your budget. Knowing your financial limits is important to create a realistic list. After all, the last thing you need is to fall in love with a beautiful home that’s well beyond your means. 

After you’ve developed a solid understanding of your budget, it’s time to list out all of the features you want in your next home. Here’s how you can consider them before you start:

• Must-Halves. If the house doesn’t have your must-have features, then it isn’t going to work for you and your family’s lifestyle. For instance, maybe it is too far away from work or your loved ones, or it doesn’t have enough bedrooms. Essentially, if the house doesn’t have one of these features, it isn’t the right one.
• Nice-to-Haves. These features are ones you would love to have, but they aren’t necessary for your lifestyle. They aren’t dealbreakers, but if you find a home with these features and the must-haves, it’s a strong contender on your list. 
• Dream State. In your dream state, you can dream big. These features aren’t ones you necessarily need, but they would be very much preferred as long as the home in question suits your budget. For instance, walk-in closets or a special design in the bathroom can make or break your decision. 

After creating your list and categorizing the features accordingly, contact a real estate advisor for further assistance. Our team can help you redefine your list and decide on an area to live in, as well as other important considerations. 

We can help you find a house that suits your needs but also fits your budget. While many homeowners dream of the perfect home, it isn’t always easy to find something that has everything you desire— or even possible. Nor is it necessary: you can find a wonderful house even with some compromise. Our real estate agents can help you determine areas of compromise so you can explore all options available. 

Contact Our Real Estate Agency Now

The Jana Caudill Team offers decades of experience as a real estate agency that has operated in Northwest Indiana for many years. We are well-known in the region and can help you find all the information you need on local communities so you can choose the right place for you and your family. Call us today to schedule a consultation.