Before buying a home, it is important to establish the difference between your wants and your needs when it comes to your purchase. These differences may come into play because of a large number of factors, the biggest being the amount you can spend on a home. Here are a few questions to ask when distinguishing the difference between your wants and your needs.
What are the Basics Necessary for Day-to-Day Living?
One way to really understand what is truly a need is identifying the basics needed for your day-to-day activities. This includes things like number of bedrooms for your family, as well as what’s necessary for cooking and bathing. Some people find minimalism living to be less complicated and taxing. However, that’s not for everyone. Knowing the basics will help you understand the bare minimum requirements when buying a home.
Could I live Without Certain Features?
This question will help you understand what’s important in your new home. If you feel you could live without certain features, such as a fireplace, it will help you differentiate between your needs and wants. Certain features can add to the overall price of the home, making it more expensive. Knowing what you can skip on could save you money in the long run.
What are my Long term Goals? What will I need to Achieve Those?
Maybe you want a growing family. Maybe you want to maintain a healthy and active lifestyle. Establishing your long term goals, ones that may not happen for a few years, will also determine what you truly need in your home. For instance, if you are thinking about growing your family, you may need more rooms. If you are into fitness, this may require a gym. If you are an artist, you may want a studio.
What will Make me Content in my Price Range?
Most people want things they can’t afford, but it is not a smart move to stretch your reach when it comes to buying a home. It is a financial investment, and it is important to be financially responsible when purchasing a home. One thing to think about is what will make you content and happy in a home that is within your price range. This way, you will know what will make you happy in the long run, and you will know you are being practical financially.
If you are searching for a home in the greater Encinitas area, I’d be happy to help you along on your journey. Feel free to give me a call or write me an email. We can discuss your needs and wants for your future home.