{realtor riner} the wants, needs, and must haves

today is the first sunday post from realtor riner. while i firmly believe that everyone should get professional help whether buying, selling, or renting a home, i'm going to try to explain the reasoning behind what we advise you. because there is reasoning behind it- whether you like it or not. ;-)

for you home buyers out there- you know what happens. everyone goes through it and has to overcome it. i am referring to the hurdle that is expecting everything for nothing. let me tell you a little story...all names have been changed to protect identities. ha.

bob wanted to buy his first home. he sought out a realtor and met the realtor to discuss his criteria. he wanted a 2 bedroom, 2 bathroom condo with a large patio/deck near the local subway station. bob wanted it fully upgraded and move-in ready...for 200k less than they were currently being sold for. yup- try having that conversation with someone telling them there is no way in h*ll it is going to happen. fun times.

it's one thing to want certain things in your new home. however, it is quite another to be unreasonable. it's called baby steps, people. a single person DOES NOT need a single family home fully upgraded. whatever happened to people living within their means?!

so when i first meet with a homebuyer, i explain that there are 3 categories of criteria for their new home: the wants, the needs, and the must haves.

let's work these backwards. the 'must haves' are things you cannot live without. prime examples include a dishwasher, parking spots, being in a certain location, etc. basically ask yourself- if a home doesn't have this, would you walk away? if so, it's a must have.

the needs are a little bit more of a grey area. these are things you would like but wouldn't be detrimental to the home purchase. maybe you would like 3 bedrooms, but 2 would be sufficient. maybe you would like a certain neighborhood, but are willing to expand your search area. you get the idea.

now for the wants. when i bought my condo last summer, i wanted stainless steel appliances, granite countertops, and hardwood floors. but the units that had all of these were well out of my price range. i ended up with a carpeted unit that had original appliances from 1993 and pink Formica counters. the location and condition of the property won out- and i put in silestone counters and new appliances after i moved in. the wants are things that, when your honest with yourself, are items that you really do not need at all.

if you are in the market to buy your first home or your buying your second, third, fourth- whatever it may be- keep this in mind. i know you want the perfect home, but i promise you that you can easily turn a house into a happy home with the right perspective and your priorities in check.

xoxo Lauren