Your Home Buying Wish List
Buying or selling a home can be overwhelming especially for first-time homeowners. As a Realtor, my job is to help make the process smoother for my clients. One way to help make your transaction go smoother is to have a Wish List. Let’s go into more detail about the Wish List that comes with home buying and the best way to work with your agent to ensure your needs are met.
The Wish List
Your wish list is simply a list of everything you want in your new home. This could include the number of bedrooms, and bathrooms, the size of the lot, the kitchen, and other amenities. This list is a great starting point as it gives you a clear idea of what you want in your dream home.
Working with an Agent
Once you have established a working relationship with your agent, it's essential to have your pre-approval letter, and with that, you can discuss the practicality of your wish list. Your agent can help advise you on what is doable regarding your budget and the area you want to buy in. It is often essential, especially in a competitive market, to prioritize your wishes and identify the ones that are “nice to have” versus what you need.
Prioritizing Your Needs
It's important to understand that, realistically, you might not get everything on your wish list. I advise clients to prioritize based on their needs. For example, determine the number of bedrooms and bathrooms you need before considering other amenities like a basement, dining room, or garage. Communicate with your agent regarding your priorities so that they can focus on properties that meet your needs.
Being Realistic
It's not uncommon to see buyers missing out on great deals because they are chasing their wish lists. Having a wish list is alright, but being rigid with it can be a disadvantage. There are occasions where buyers might compromise on what they think they need and later realize it wasn't a necessity. I worked with a buyer who initially wanted a home with a pool, but after considering other factors such as the cost of upkeep and their busy lifestyle, they decided they can do without a pool. That opened up a wider range of homes better suited to their needs and budget.
A Success Story
One of my favorite things about being a Realtor is helping my clients find their dream homes. There was a buyer I worked with for a while; he had a specific wish list, but we were able to get comfortable with each other, and I learned more about what worked for him. Eventually, I found a property that ticked all his boxes, even though it was over his initial budget. We put in a competitive offer, and he got the house - he even ended up purchasing the land next door to build his dream home!
When starting on your home-buying journey, create a wish list that captures everything you want. However, be flexible with it and prioritize based on your needs. Remember to communicate efficiently with your agent so that they can focus on finding homes that meet your needs. Working together and being realistic about your expectations will make the home-buying process stress-free and enjoyable.