It is more important than ever to evaluate your wants and needs as a homebuyer
You’ll need to be strategic when it comes to buying a house, especially in light of today’s affordability issues. Mortgage rates affect the cost of borrowing money for a home loan. To help offset the rising borrowing costs, some homebuyers are re-evaluating their wish list to determine what features they need in their new home. This helps them avoid overextending themselves. According to a recent NerdWallet report: “A pool is nice, but may not be as useful as a garage, or a place for a home-office. . “While the pool may look appealing, consider whether it is something you need to have in order to be happy at your new home. Is the pool your main reason for moving? Most likely not. You’re more likely to be motivated by a desire for more space, for a home office or to be closer to family, friends or work. List all the features that you want to see and then break them down into categories. Here’s how to organize your list. ).
Nice-To Has – These are features that you would love to have, but can live without. Nice-to-haves don’t have to be a dealbreaker, but if a house has some of them and all the must-haves, it could be a contender. ).
Dream State – Here you can think big. These are not features you will need, but you can find a house that includes all of these plus most of the nice to haves. ).
After you’ve classified it in a manner that suits you, discuss with your agent your top priorities. Remember to consider what is a must-have for your lifestyle, and what is a nice-to have that’s an added bonus. Discuss with your agent where each feature fits. They can help you refine your list, guide you on how to adhere to it and find a house in your area that fits your needs. Connect with a local realtor to find the home that best suits your needs.
Members: Sign in to create your personalized posts and start sharing!
Not a member yet? Click Here to learn about KCM’s new feature, Personalized posts.