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The Briar Hill Group

Separating Needs Versus Wants in the Buying Process

There is probably a long list of things you need and things you want in your next home. But putting them all on a single list would be a mistake.

Why? Because buyers who separate what they need from what they want are much more likely to find a home that meets all their requirements.

For example, say you want a home that is close to a golf course but you need it to be in a neighbourhood that has a good local school. If you hold out for both, you may miss some great opportunities on the market. Or worse, you might mix up your priorities and become so excited by a house that’s a block away from a country club (what you want) that you fail to realize that the nearest school (what you need) is several miles away.

That’s why you should create TWO lists when you shop for a home: a needs list, and a wants list.

Your needs list might look something like:

·         Four decent sized bedrooms

·         A sidewalk in front of the home

·         A double car garage

·         A playground within walking distance

·         A clean, safe neighbourhood.

Your wants list may include:

·         A finished basement

·         Hardwood floors

·         A large deck

·         Fine dining restaurants nearby

·         Backing onto a ravine or wooded area.

Does all this mean you can’t get the home you want, just the home you need? Not at all! By having two separate lists, you can make the best decision. You can make sure you find a home that meets all your requirements and, ideally, one that offers as many of the “extras” as possible.

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May 5, 2018 4:40 AM

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About Jane Johnston Personal Real Estate Corporation M.E

Jane Johnston was a winner of an VREB MLS® Silver Award in 2007 and 2008 and 2010, and MLS® Gold Award Winner in 2010. Jane was Pemberton Holmes' top new REALTOR® in her first year and has consistently been a top 1% performing realtor at Pemberton. Jane is focused on providing you with top-rated service.