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Prioritize Wants and Needs

Colorado Springs Real Estate Buyers Guide – Prioritize Wants And Needs

prioritize wants and needsSo you want a house…great! The first thing to do is take a minute to prioritize wants and needs (taking into account what you can afford) and balance all those factors into selecting search criteria. A few minutes up front can save you weeks of house hunting!

Choosing the right home is an essential piece of your life puzzle. It can mean financial stability, good schools for the kids, a neighborhood you enjoy coming home to, and can limit commute times giving you more time for the rest of your life. The following section is designed to facilitate discovery for buyers to figure these things out.

Effective Realtors will help clients navigate this process.  To understand a Realtor’s role through this process, please see why use a Realtor to buy section of this site. If you would like assistance in this process, please give me an opportunity to speak with you and earn your business.

 Identify Your Needs:

  • What can I afford? You need to know this before you do anything else. There is no sense in looking at homes that are out of your price house-requirementsrange and you don’t want to be house poor by purchasing a home at the very top of your price range. Knowing what you can comfortably afford is the paramount first step to this process.
  • What part of town do I want to be in? (You know that old adage: “There are three things that matter in real estate: location, location, location!” Well, it’s true. Location is everything…you can’t move it after you buy it, so be sure to focus on location first):
    • How far from work?
    • How far from Schools (and which schools)?
    • How Far from Parks or open space?
    • How far from movies or shopping?
  • How many bedrooms/bathrooms do I need? Do I want them close together or far apart from each other?
  • Is main level living a long term concern?
  • What kind of living spaces do I want/will I use?
  • Do I want a formal dining room/Eat in Kitchen (or Both)?
  • What about a second (separate) recreation area for kids, game room, or theater area?
  • How important is curb appeal?
  • How important are garage spaces?
  • Storage space/Closet space
  • Yard size (small is great for low maintenance, large is good for gardening, kids or pets)
  • Construction materials/insulation
  • Are you looking (or willing) to buy a “project home” where you can create some sweat equity or are you too busy to fool with that kind of thing?
  • Crime rates in the area.
  • Resale concerns

Prioritize Wants & Needs

After a buyer makes a list, they should rank their preferences.  Remember, there is no such thing as the “perfect” house.  The goal is to find the closest fit.  Also, when answering these questions, a buyer should refer to their everyday life.  It is important to be sure that lifestyle will fit with the floor plan chosen.  (EX:  If you don’t have “good” furniture that you use for entertaining or never throw dinner parties, a formal living room and/or dining room could be a waste of space.)

You can also print my buyer process graphic to the right and just number 1-12 within the red circles. If you have someone you are buying the home with, print 2 copies, have each party list their priorities, and then compare. It will generate som good discussion and work to get you on “the same page”.

If there is something I haven’t covered or you have questions, please feel free to contact me.

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