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What are Your Needs VS Wants When Purchasing a Home?

January 25, 2021

What are Your Needs VS Wants When Purchasing a Home?

If you came to me as a prospective home buyer and asked to start house hunting, there are two things I would ask you:

1. What do you want in a house?

2. What do you need in a house?

Here’s a simple definition between the two:

NEEDS are the non-negotiable features, or the the features you simply 𝘮𝘶𝘴𝘵 𝘩𝘢𝘷𝘦 in your next home. These are things that you typically can't change after you move in (or it would be too expensive to do so), such as square footage, number of bedrooms, location, garage, etc.

WANTS are the things you’d like to have, but you can add or change down the road, such as a fenced-in yard, hardwood flooring, white kitchen, his & her master bedroom closets, or a finished basement.

If you’re ready to shop for homes, you should have already spoken to a lender and received a pre-approval. With your budget in mind, you may need to forgo some of the wants. Unsure what's reasonable and what’s not in your price range? This is where your real estate agent comes in. A strong agent will know the area, what homes are currently selling for in your market, and how much added features — like an additional bedroom or a pool — should add to the price.

If you're thinking 2021 may be the year to break up with your landlord, give me a call and let’s find you the home of your dreams in Vancouver's Olympic Village at False Creek!

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