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Home Buying: Get Your Priorities in Order

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Prioritize Your Housing "Wants" and "Must-Haves"

Finding and viewing houses during the home buying process can be dizzying, especially for first-time home buyers. Before you start looking at homes, it’s important to set your housing priorities. This is a list of features and amenities that you want the home to possess. Once you’ve made your “wish list,” prioritize each item so you can more quickly identity which homes make your short list and which homes don’t.

Here are a few items that should be included on your list of priorities:

Price

Finding a great home for you and yours is typically not the hardest part of the home buying process. A major difficulty that many home buyers have when searching for a home is the price tag, particularly price points that are out of their affordability range. So, before you start listing features you’d like in your next home, the school district you’d like to live in or the “must have” amenities, you should first set a budget for a new home.

A professional real estate agent, mortgage banker, or even an online mortgage calculator can help you determine the price range for a home you can realistically afford. When you start looking for homes, stay within this price range to avoid disappointment, wasting your time or the time of the professionals with whom you’re working.

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Features

Next, make a list of all of the features and amenities that you want the home to have. Separate this list into two categories. One category should be the features that the home must contain. The other category should contain the features or amenities that you would like the home to have, but are not a necessity. For example, a “must have” feature may be the number of bedrooms. A “nice to have” amenity, on the other hand, may be an in-ground pool.

Put the list of features in each category in order of priority. As you preview each home, take the time to visit this priority list and make notes. Mark how many of the must have and nice-to-have features the home has and which homes contain your highest priority over your lowest priority items.

Location

Location is always an important factor to weigh when buying a home. First, you don’t want to buy a home in a neighborhood that is under- or over-priced. Second, you’ll want to consider the school district, crime rates and lifestyle of the neighborhoods in which you’re considering buying.

It’s easy to get swept up in the excitement of looking at homes. But it’s important to keep your excitement under control so you’re making logical and educated decisions. Getting your home buying priorities in order and sticking to these priorities will help to ensure that this is precisely how the home buying process unfolds for you.

For more tips and tools to make the home buying process easy-breezy, visit Quizzle.com, where you’ll get free home loan recommendations so you know how much home you can afford and a free home buying toolkit that will walk you through each step of the process.

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Home Buying: Get Your Priorities in Order was originally featured on Quizzle Wire

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