Your home search checklist is a powerful tool that can help you find the perfect balance in your home search.
Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs.
Danielle Hale, Chief Economist for realtor.com, explains it like this:
“Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.”
So how do you go about creating your list of desired features? The first step is to get pre-approved for your mortgage. Pre-approval helps you better understand your budget, and that plays an important role in how you’ll craft your list. After all, you don’t want to fall in love with a home that’s too far out of reach.
Once you have a good grasp of your budget, you can begin to list all the features of a home you would like. Here’s a great way to think about them before you begin:
- Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).
- Nice-To-Haves – These are features that you’d love to have but can live without. Nice-To-Haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender (examples: a second home office, garage, etc.).
- Dream State– This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: farmhouse sink, multiple walk-in closets, etc.). [source]
MULLIN MESSAGE: Create a home search checklist
Your home search checklist is a powerful tool that can help you find the perfect balance in your home search. By taking the time to sit down and really think about what you want and need in a home, you can avoid getting caught up in the emotion of the home buying process. I’ve seen too many buyers get caught up in the excitement of finding a home and end up making a purchase that they later regret.
Your home search checklist can also help you save time and money. By having a clear idea of what you’re looking for, you can avoid wasting time looking at homes that don’t fit your needs. And, in today’s competitive market, being efficient in your home search is more important than ever.
If you’re not sure where to start, sit down with a piece of paper and make two lists: one for must-haves and one for nice-to-haves. Your must-have list should include items that are non-negotiable, such as the number of bedrooms and bathrooms, while your nice-to-have list can include items that would be great to have but aren’t deal breakers, such as a backyard or a finished basement.
Once you’ve created your list, connect with us at the Mullin Group. We’ll be able to help you refine the list further and coach you through the best way to stick to it. And, most importantly, we can help you find a home in your area that meets your needs.
If you’re ready to start your home search, we'd be happy to help. Contact us today and let’s get started!