Buying a home: Step 1 - Evaluate your needs

The time has come that you’re ready to buy a home. Perhaps you’ve been renting and are ready to start building equity instead of helping build your landlords or maybe you’re already a homeowner looking to make due to a lifestyle change. Either way, congratulations.

Real estate is a fairly unique commodity in that it’s not something you purchase on a whim. Making the best decision means taking the time to do a little planning. By taking a little time of front to identify what your new home should look like you’ll take a great deal of stress out of the buying process. Your first step is to figure out what you need and want in a home. For some it’s a spacious home in the country while for others it’s a maintenance free condominium.

Start by making a list of what you absolutely must have in your new home. Think bedrooms, number of bathrooms, garage size (here in Alaska a garage is pretty important), distance to/from your place of work, and school district for example. The amenities on this list are items that are your base criteria your agent will use in searching for a home.

Next a list of what amenities you would like your new home to have such as granite counters, hardwood flooring, size and number of closets, view, acreage, age, etc. In a perfect world it would be easy to find a home that had everything you needed and wanted in one tidy package. The reality is that your new home most likely be a blend of the two lists. Even with the largest budget it’s difficult to fulfill every wish.

Focusing on your needs and wants before you start shopping you will help your agent eliminate properties that are not at all what you’re looking for and instead focus on homes that will suit you and/or your family perfectly.

Next: Financing the dream