How To Distinguish Between Needs & Wants When Buying A Home

Imagine your dream home. Can you see it? What does it look like? Where is it located? And now, the most important question: Can you afford it? If so, great for you! But if you’re like most people, you’ll likely need to make some compromises. It’s time to decipher between the must-haves and the things that would be nice to have. Here are some areas to consider.

Lifestyle & Location

These are the basics – decide which items on your checklist are deal breakers and which are “nice-haves.” Consider the distance from the home to your job, nearby amenities and shops, whether the home has a swimming pool, if you like the countertops and finishings of the home, etc. Which aspects of the home can you “live with” for the time being and which absolutely must be in place for you to consider purchasing it? Will you take a longer commute for a larger yard or more square footage? It’s an important call to make.

If You’re a Pet Owner…Or Not

No doubt if you have four-legged and furry members of your family, you’ll have certain requirements. For example, is the yard large enough for your dog to run around in? Is there a fence to keep him safe? If not, how far is the nearest dog park? On the contrary, if you’re a person who prefers a pet-free life, you’ll want to know whether the previous or current owners had animals in the house. Does this turn you off to the idea of buying the home?

School Districts

Whether you have a family already or are planning to have children in the future, you’ll no doubt need to take school districts into account. Is it important to have a good school within walking distance? Or, would a short drive or commute to and from school not present too many difficulties in your everyday routine? Even if you don’t plan on having kids, living in a good school district will increase the value of your home when and if you decide to sell down the line.


Different neighborhoods have different personalities. Choose an area that closely matches the lifestyle you want to lead. It may not be perfect, but hopefully it ticks off at least the majority of your “wants.” There’s a good chance you’ll need to make some compromises when it comes to the neighborhood, but some things to take into consideration include: Budget, personal preferences, size of the garage, community and distance to your favorite grocery store, restaurants and other amenities.

Are you in the market for a new home? Let RedStone Mortgage assist you in finding loan options that meet your individual needs. Call us at 480-759-1500.

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