It is important to look at this question and really think about it if you are considering buying a home or in the process of searching for a house to buy. How you answer this question can make a big difference in what kinds of houses you look at in your online real estate search or with your real estate agent. Your answers to this question can also set the tone for the home price you will see during your home search.
Simply put, needs are the necessities you must have in a home you select to purchase and live in. Wants, are the extras that enhance your home, but are really necessities. By focusing on what you want in a home you'll end up looking at more expensive homes which could price you right out of buying a home. It could certainly discourage you from house hunting if you are not careful at what is really important in owning a home.
Needs - What Do I Need In A House?
What you need is very different from what you want when it comes to the house you want to purchase. You could consider the home characteristics in this section basics of a home with some slight upgrade - but nothing too fancy.
Here are examples of some needs you may be considering when doing your online real estate search:
- Is the house big enough? How big is big enough?
- How bedrooms do you really need? Do you have a family of 4?
- How many bathrooms do you really need 2 versus 3?
- Family room
- Space for an eat-in kitchen
- Garage, basement or attick for extra and necessary storage
- Close and safe proximity to a greenbelt or local school because of your kids
- Backyard or sideyard where kids can play
- Single story versus a two story
- Home with special handicap requirements
All of these examples and many more are characteristics of a home that are worth your consideration and impact the type of home you search for. Now let's take a look at home characteristics of a home for items that you may want.
Wants - I Want A Really Nice Home
By shopping for what you want in a home versus what you need in a home, you will probably be looking at purchasing a more expensive home for the same square footage than you could have if you just stick with the basics - to basics with some upgrades.
- Wood floors versus carpeted or tile
- Hot Tub and/or pool
- Granite or marble countertops in kitchen and bathrooms
- Jacuzzi tub in master bath
- Gated Community or Golf Course Community
- Ornate Crown Moldings around ceiling
- Built in bar-b-que
- 3 car garage
- Casita or servants quarters or in-law suite
- Built in wall seating and/or entertainment center
- Multiple hot water heaters
All of these home characteristics are great - but they are add-ons that can be put into a home (for the most part) once you have what you need in a home. If budget is a consideration, you may want to pare down your house hunting wish list to what you need and add to your home as time and money become available in the future.
The worst thing you can do is comprimise up in price to get stuck with a housing payment that you do not feel comfortable paying. Remember you are going to with the home you purchase for a while so make sure it really works from the beginning and you will be much happier.
Additional Information on your home search wish and want lists
