The same can be said about purchasing a house or condo.
After having made the decision to purchase a home, a buyer must decide what qualities they desire in a house or condo.
It goes without saying that location is the first consideration. You can change many things about a house but location is not one of them!
Prospective buyers need to consider the “must haves,” “can't have,” and “nice to have” characteristics of their new purchase.
- Must haves: Some things a house must have - can't live without these. Know these up front. Location, space inside and outside, safety, age and type of construction, school district and the like may be included here.
- Can't haves: Just like you must have certain things, there are things you just do not want. Know what these are from the start as well. This is a list that needs to be shared with your Realtor® early on to avoid wasting everyone's time.
- Nice to have: Sometimes an extra just happens to show up in a house you find which meets your must have criterion. Identify these extras so your Realtor® can include them in the search because, as a buyer you never know what is on the market. But your Realtor® is the market expert and may just know where to find these as well!
In deciding all these qualities the prospective buyer must keep in mind their budget. Buying a house involves a long term commitment of money and having a realistic budget will set you up for success as a homeowner.
Having a defined budget and understanding your needs before you go looking will make the process a lot more enjoyable - I assure you!