Prioritize Needs And Wants When Purchasing A Home

By
Real Estate Agent with RCB Living 0894006

Every home buyer has goals and then comes a list of wants and needs.

Prioritizing wants and needs when shopping for a home is a skillful job which may lead to headaches and possible heartache if not executed properly. Identifying needs and wants may call for the assistance of an experienced real estate agent who is a local expert to uncover the many ways to realizing buyer goals. With so many ways to shop online for a home, buyers usually have an idea of what they want and what they don’t want. Before becoming serious about shopping, buyers know how many bedrooms and bathrooms are needed. It’s almost guaranteed that yard space and square footage of the home follows as important features. 

The possibility of owning a home and affording all the items on a wish list could lead to internal renegotiation of wants and needs. Once a buyer realizes the actual cost of a home including other fees and expenses, the list of wants usually diminishes. Resale homes can be tricky because the previous owner has customized it to their own lifestyle. 

Normally, buyers will go into a home knowing the changes upfront needed to make it acceptable to their standards. Sometimes buyers can be too optimistic. Watching endless episodes of HGTV shows and DIY channels may motivate in different ways which could makes any home seem possible. Let’s face it, many home buyers are not equipped to fulfill the arduous tasks of home improvement. These are all great ways to start thinking about all the must have features, but remaining realistic is normally a concern with DIY bingers. 

Working with an experienced real estate agent gives the buyer assurance that their money spent well. It’s important that buyers don’t take over the search and should allow the agent to give their insight. An agent who cares will make sure their buyer gets the most for their money. Between the real estate agent and the buyer, there should be a discussion about where they are in their life’s milestones. They should get to know their buyer by asking questions related to current lifestyle and future lifestyle aspirations. Real estate agents with expertise to their local market may have suggestions beyond the main focus of a buyer and bring light to options that could help save money over time. Essentially, these suggestions should be presented in a conversation that makes the buyer feel comfortable in trusting their expertise. Information should be presented to allow the buyer to make decisions based on facts. Having these types of conversations can only bring forth in-depth exploration of possibilities and may redefine perspectives and attitudes towards buyer standards bringing them closer to the perfect home for them. 

 

Moving to a new city or state complicates the goal of finding suitable housing matching up to current lifestyle standards. Choosing a home in a community that best suits an aspiring buyer can be tricky especially when there are several must-haves on their list. Most times these “must haves” are related to what buyers are accustomed to and not taking in consideration a different quality of life proposed in a different community or location. A professional real estate agent would assist by understanding the current lifestyle of the buyer and bringing light to the possibility of adapting to a different community. For example, a buyer that moves from the suburbs to a city would need to be informed of challenges that make living contrastive. There are some factors to consider when deciding needs and wants and should focus on the lifestyle of the buyer. The lifestyle of the buyer is best identified by understanding where the buyer works, where the buyer travels and where the buyer enjoys their free time. Pinpointing specific amenities could seem out of reach unless researching the growth of a community for future developments and infrastructure change. Normally, buyers moving into a new area are not in tune with the community goals and future plans unless they inquire. It’s best to sit in at least one community city hall meeting to gather information regarding resident concerns, complaints, and future direction. All basis should be covered, otherwise regrets could settle in.

For the working class, location may be the number one factor when commuting to work. Buyers should consider the different options of transportation. We all know purchasing a car normally involves a car payment, insurance, gas and maintenance. The cost of driving versus taking public transportation could drive their budget decision — no pun intended. Choosing to take public transportation could save buyers up to $500 or more a month. This could help the buyer achieve a better buying budget. In a highly populated area, public transportation could even reduce the time spent in traffic affording more time at home rather than sitting in a car. For some, public transportation may not be an option, but it's an option that is often ignored if never considered or brought to the attention of the buyer. 

Alternatively, for the small or large family there are some accommodations that can’t be ignored. For instance, if yard space is minimal, choosing a location that suits the needs of the family, such as wanting to live nearby parks, lakes, and free public amenities could make life much easier. Living where everything is close can save money over time. Raising children is expensive, but entertaining them while providing the necessities add up even more. An area that offers nearby child care and top performing schools may be a motivating factor. Proximity to areas specific to special needs such as health care providers and schools providing special services can save time and money especially if the schools are free to residents in a specific town or city. Choosing between a location that has top performing schools versus private education, could save buyers tens of thousand of dollars each year. 

It’s challenging to find the perfect home and to be able to afford it at the same time.

In fact, knowing that buying a home is probably the biggest investment of a lifetime makes the whole process a bit cumbersome. Pairing up with an experienced real estate agent who truly cares for his or her client might be the antidote to a smooth transitioning from buyer to happy homeowner. 

 

Feel Free To Call Me With Your Buyer Needs! 

 

Comments (2)

Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Robin: Excellent post. Buyers often start out with a very specific list which can really change especially if they are looking in a community dissimilar to what they are used to. Or if they are downsizing. Or looking for a certain lifestyle different from what they have experienced. It always amazes me what buyers actually end up with! It takes an excellent real estate agent to include homes when they go viewing that the agent thinks they might like.

Sep 10, 2019 05:58 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Robin, great post, and especially good for those buyers not having a clue where to begin.

Sep 11, 2019 08:43 AM
Robin "RCB" Carter

Thank you Joan or your feedback! 


 

Sep 14, 2019 06:44 AM