Buying Tip #1 - Wants vs Needs
When you’re shopping for a new home or cottage, it’s a good idea to create a check list of what you want and what you need. It keeps you on track to ultimately find the property that best fits your requirements — and those of your family. However, there’s a big difference between want and need that is important to understand when house/cottage hunting. A ‘need’ refers to a feature that is an absolute must in a new home/cottage. A ‘want’, by contrast, is a ‘nice-to-have’. Some home buyers make the mistake of choosing a ‘want’ at the expense of a ‘need’. For example, say you ‘need’ four bedrooms in your new home but ‘want’ a golf course located nearby. It can be tempting to fall in love with a property that has a beautiful golf green just a couple of blocks away, even if it has only three bedrooms. You may find yourself signing the offer while dreaming of Saturday morning tee-offs, only to awake to the realization months later that the lack of an extra bedroom has become a serious inconvenience to you and your family.
Of course it is possible to get most, if not all, of what you need and want in a new home. Especially if you work with a good REALTOR usually a good idea not to sacrifice something you really need in order to get something you want. So when you’re making your house hunting checklist, be clear about what is a need-to-have and what is a nice-to-have. Don’t forget that some features you want — like a wraparound backyard deck, for example — can potentially be added to your new home later.
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