The Wants And Needs of Home Buyers

Vaughan buyers often dream about the perfect home with the ideal layout in a lovely Vaughan neighbourhood, perhaps one that includes a big terrace, a beautiful porch, a spacious gourmet kitchen, etc. Still, once they enter the real estate market, they often realize that their budget simply won't suffice to fulfill all of their wishes. Therefore, buyers should first focus on their needs and adjust their wish list. The trick is to make a distinction between your needs, short-term cravings and long-term wishes. For example, if you have always wanted a walk-out terrace or an ensuite bathroom, maybe you should list it as a must-have, but if you want a big backyard and you work long hours, even on weekends, you should consider if you would have the time for maintenance. You need to know what exactly suits you and what could become an unnecessary burden in the long run. Here are some tips on what really matters when looking for the ideal home.

Which needs are your personal must-haves?
You need to know the difference between your wants and needs before you start putting together the must-have list. With the proper prioritization, though, you will be able to land the perfect home for YOU. Start with the basics, like neighbourhood, location, a solid home structure, optimum layout and square footage as these things take priority over everything else. For example, you cannot change the home's location once you buy it, and that's why you need to be 100% sure of the neighbourhood you choose. Whether it's the suburbs or the city, pay attention to traffic density, nearby amenities, neighbourhood safety, the neighbours, distance from work/school, etc., and how it would work for you. Make sure to think about your future needs as well, so if you plan to start or expand your family, you will need enough space and rooms for all of you, and perhaps a decent backyard for the kids to play.

And what about your extra wishes?
After having covered your needs first, there will probably be some money left to cover for some of your wants as well. The only problem is to decide which ones matter more. Start with the ones you have always dreamed about but consider how they would fit your lifestyle. For example, a lot of people want a swimming pool in the backyard, and they may be willing to pay for it, but are they ready and able to cover the maintenance costs regularly? The same goes for certain short-term cravings that may not be relevant in a couple of years when circumstances change, so make sure to think through every decision thoroughly and never forget that function over form is the golden rule.

Future homeowners must understand the difference between a house's short-term and long-term benefits and their role in building a home. Ask yourself which features would make your life more comfortable long-term and which ones would be long forgotten in a couple of years? For more information on the home buying process, currently available listings in Vaughan and other GTA communities, contact me here.