Must haves, should haves, and an absolute wish list.

So you’re a first time homeowner and are excited to purchase your first home.  You’re pretty confident you can find the perfect home and live happily ever after.  After all, you watch all the home shows and scour Pinterest so perfection is certainly attainable, right?

After you do your due diligence and get pre-approved for a mortgage, you start the search and realize that perfect kitchen is not in a home in your price range.  How can that be possible?  Every home you’ve seen on TV is updated, so why the disconnect?

You have to realize that there is always a compromise in finding a home.  What may have the perfect yard and outdoor space, may come with a kitchen stuck in the ’80’s.  The perfect cape cod home with the white picket fence, may only have 1 full bath.  The homes in your desired neighborhood with only a half hour commute may have ’70’s inspired wallpaper.  What do you do now?

Your next step is to list all the features of a home that you would like, and to qualify them as follows:

• ‘Must-Haves’ – if this property does not have these items, then it shouldn’t even be considered (ex: distance from work or family, number of bedrooms/bathrooms).  Must-Haves can also be known as a deal breaker.

• ‘Should-Haves’ – if the property hits all of the ‘must-haves’ and some of the ‘should-haves,’ it stays in contention but does not need to have all of these features.

• ‘Absolute-Wish List’ – if you find a property in your budget that has all of the ‘must-haves,’ most of the ‘should-haves,’ and ANY of these, it’s the winner!

Only you know what you can live with and what you can’t.  There are certain things that are fixable for relatively little cost.  Changing paint colors, removing wallpaper and changing out light fixtures, for example, can really update a home for a relatively small cost.  Adding a bathroom or updating a kitchen will set you back some.  But if they are in good working order, can you be happy with them while you save up for the renovation?

Keeping an open mind is key.  Having a knowledgeable real estate agent working with you can really help guide you through the process.  If you’re in the Northern Virginia area and looking for a real estate agent, contact me!  I can help you realize your real estate dreams:-)