Shopping for a new home is fun and exciting, but if you don’t start out with a clear idea of what you really need and only consider your wants or “wish list,” buying a home can quickly turn into an exercise in frustration.

With so many choices on the market right now, it’s very important to have a game plan so that you don’t waste a lot of time or worse, end up with a home that’s all wrong for your lifestyle. Start by making an actual list of the things you want your dream home to have, and then decide on the deal-breakers like location and number of bedrooms and bathrooms.

Consider your current and potential future lifestyle. For example, an otherwise perfect home quickly becomes outdated when you add to your family and really need that extra bedroom or bathroom. Take into account your commute and the location of your children’s school (or future school) so that you don’t end up living your life in the car instead of your new home.

Also, decide your budget carefully. If you find a home that meets your needs and is a great buy, you can afford to add some of your “wish list” items later on. The last thing you want to be is stuck in a house you can’t afford and that doesn’t meet your needs, even if it has many of the bells and whistles you wanted.

——————————–

Source:

http://www.lendingtree.com/smartborrower/buying-a-home/finding-a-home/home-needs-versus-wants/