Defining your Wishlist: What you Need and What you Want

Posted by Krista Fracke on Friday, October 21st, 2016 at 9:10am.


When buying your first home or even your fifth, you are going to have to make some sacrifices. Sure, you have that image of your dream home in your head, but ask yourself if it is completely realistic. Unless you are building a custom home from scratch, the home you buy is never going to perfect. There are some things you’ll love, some things you like, some things you dislike and some things you can’t even stand. As long as you are realistic about what you can live with and what you can’t, your home buying process should go smoothly and you should be able to get some of the things on your wish list. The trick is knowing what you need on your wish list and knowing what you want on your wish list.

What do you need?

Location

There are a number of things you should not sacrifice on when buying a home. The first and most important is location. As the saying goes, you should find the worst home on the best street. The reason for this is that your location is almost more important than the home itself in terms of your happiness and value. A well-desired neighborhood’s value will only go up, and even if you are the smallest and dumpiest house on the street, your home’s value will go up with it. If you buy yourself a mansion in a crime-ridden neighborhood, your value will actually decrease and so will your safety. Your proximity to work and school is also a priority, since you’ll be doing the commute each day, regretting where you bought a home.

Square footage

If you have a family, you need to know how much square footage you need for everyone to be comfortable. If you are tight-knit family, by all means, by a smaller house where people have to share bedrooms. But, if everyone likes their own space, you may need a larger home, with sufficient bedrooms and spaces for play. Buying a home that is too small because you love the kitchen, will only have you crying in your soup for more space. Don’t sacrifice square footage and bedrooms or you will regret your home purchase down the line.

What do you want?

Move-in ready

Almost every homebuyer (with a few exceptions) wants a move-in ready home, where there is no work to do. That is a want. If you are a first-time homebuyer, you will undoubtedly find only homes that need some work. The job might be small or it might be major, and only you can decide what sort of time and money you can put into your home. But, you might have to live with dated bathrooms and 10-year-old carpet until you can afford to change it. Having a move-in ready home is only a want, and not a need.


Updated everything

Wouldn’t it be great if you could buy a home that is completely updated? While that is possible, you are going to pay for all those updates. Home flippers know this, which is why they buy homes and put in the most beautiful new fixtures and flooring and then charge a bundle for that home, quite a bit over what it cost them to put it in. Buying a home that needs some updating is actually a smart move, because any work you do will net you home value. Again, this is a want and not a need.

If you need any help finding your perfect (and realistic) Jacksonville home, give me a call!

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