Creating Your New Home Wish List

What Kind of Home Do You Want?

When you first start gearing up to buy a new home, it’s a good idea to create a ‘house hunting action plan’ - the business of finding the perfect home for you. Get clear by making a few preliminary lists, separating the must haves from the want to haves. You can even create a rating system such as: “gotta haves” at #5 and “would like - but not a deal breaker” at #1. The idea is to get as clear as possible in your search. You’re honing in on your target - a new home.

First of all, ask yourself why you want to own a new home. Here are some of the most common reasons people choose to buy:

• To have a place you can call your own
• To build up some equity
• To stop paying rent each month
• To’upsize’ to a bigger home

When looking to buy a new house, many questions will need to be answered such as:

• How much house can I afford?
• What kind of neighborhood do I want to live in?
• What kind of financing is best for me?
• What should I look for in a new home?

You’ll also need to decide what kind of area suits your lifestyle needs.

• Do you want to live in the city, suburb or country?
• Do you want a house on the north, south, east or west side of a particular community?
• What kind of neighborhood do you want to live in - established (older) or a brand new one?
• What type of community services (stores, transportation, childcare, library, entertainment, etc.) do you want to have near by?
• How much commuting time are you willing to do each day?

Another major decision in your home buying process is getting clear on the type of house you want.

• How much space do you want and need?
• Do you want a new home or a fixer upper?
• Will the community be good when you want to resale the home?
• How long are you planning to live in the new house?
• Will the home be big enough down the road (amount of bedrooms and bathrooms; kind of kitchen; number of rooms?
• What style of house (1-story, 2-story, condominium, townhouse) suites you?
• What size and kind of property (wooded, waterfront, secluded, conservation, golf course, etc) do you prefer?

Narrowing down what you want ahead of time will make the house hunting experience that much easier when you actually get started. You’ll have separated out the wheat from the shaft sort of speak. With so many housing options available on the market - the process of buying a new home can become daunting. But, with a well-thought-out plan of action, finding the right home will be a walk in the park.

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