Making a House Wish List: What Do You Really Need?

When crafting your home-buying wishlist, it's best to separate your needs from your wants. You should prioritize essential features like the number of bedrooms and bathrooms, proximity to work or schools, and sufficient space. At the same time, you'll need to set a realistic budget, considering must-have features and potential compromises. Thorough planning and knowing what to prioritize will make it easier to learn how to buy a home that's right for you.

5 Things For Your Home Buying Wish List

• Number of bedrooms and bathrooms.
• Locations with your preferred proximity work, schools, and essential amenities.
• Sufficient space and storage for your current and future needs.
• Systems and appliances that are in good condition and energy-efficient.
• Passes a home inspection.

Separate Your Wants From Your Needs

Creating a clear distinction between your wants and needs is an essential part of buying a home. Start your wishlist by identifying your non-negotiables, such as the number of bedrooms and bathrooms, and the proximity to your workplace, schools, and emergency services. These are needs—elements that can directly impact your daily life and shape your overall satisfaction.

Of course, it's also vital to understand your financing options early in the process to keep your expectations in check. Setting a realistic budget based on your needs and wants will tell you how much you can really spend on a house.

Next, list your wants. These are features that would be nice to have but aren't deal-breakers. Think about things like a gourmet kitchen, a large backyard, or a home office. While these aspects can enhance your living experience, they're not essential for your immediate comfort.

After brainstorming, prioritize your home-buying wishlist by ranking each item. Needs should always come first, followed by your top wants. This approach can help you stay focused during house hunting and prevent you from becoming emotionally swayed by properties that look appealing but don't meet your core requirements or budget.

Features You Need in a New House

When searching for a new house, think about the location and neighbourhood, ensuring it's close to essential amenities. Make sure the home has sufficient space to meet your immediate needs while also considering the long-term appreciation potential of the property. Most importantly, though, the home should fall within your price range and pass a thorough inspection.

Good Location & Neighbourhood

Selecting the right location and neighbourhood for your new home will be vital to your long-term happiness and convenience. What makes a good location? Think through your proximity to the amenities you value most, whether it's grocery stores, parks, schools, hospitals, or public transit.

For some households, being in a good school zone is essential. If that's near the top of your list, research local schools and their ratings to see what kind of education is within reach. Safety is another important factor for many home buyers. To get a better idea of a neighbourhood, check local crime maps and consider visiting a prospective home at different times of day.

Daily commutes are another big one. Test drive the route to gauge commute times during rush hour. A shorter commute can reduce stress and give you more time at home.

Lastly, property tax rates vary, so research the rates in different areas. Higher taxes can greatly impact your budget, and understanding these costs upfront helps avoid financial surprises later.

Sufficient Space

Ensuring your new home has sufficient space is essential for functionality and comfort. Start by considering the number of bedrooms and bathrooms you need. If you have a growing household or often host guests, extra bedrooms can be vital. Think about future needs, too—a home office, playroom, or extra room can add significant value and utility.

Next, evaluate the living areas. A spacious living room can provide a comfortable area for gatherings and entertaining, while an open floor plan can make a home feel larger and more welcoming, allowing for smoother traffic flow and better interaction between spaces.

Aside from square footage, try to prioritize storage solutions. Ample closet space, a pantry, and built-in shelving can keep your home organized and free from clutter.

Don't forget the importance of outdoor space. A backyard or patio can serve as an extension of your living area, offering a place for relaxation, gardening, or outdoor activities. Fenced yards are another valuable feature, offering a greater sense of privacy and security.

Reliable Appliances & Home Systems

While ample space and functionality are essential, reliable appliances and home systems can be equally important to ensure your new home runs smoothly and efficiently.

A home with up-to-date and well-maintained appliances can save you time, money, and stress in the long run. Prioritize homes with energy-efficient appliances, as they reduce utility bills and environmental impact, and take some time to check the age and condition of major systems like HVAC, plumbing, and electrical setups.

On that note, don't forget to verify the warranty status of household appliances and systems among the documents the seller provides at closing. A transferable warranty can offer peace of mind and potentially reduce future expenses. Consider the ease of maintenance and availability of service providers for these systems. For instance, an older HVAC system might be reliable but could require frequent servicing, adding to your costs.

A kitchen is often the heart of the home, so check if the refrigerator, stove, dishwasher, and microwave are in good working order. Similarly, in the laundry area, remember to inspect the washer and dryer. Reliable appliances and home systems can give you peace of mind.

Compatible With Your Price Range

Finding a home that fits your price range while meeting your needs can be tricky, but it's essential for a successful purchase. Start by defining your budget, taking into account not just the purchase price but also ongoing expenses like property taxes, maintenance, repairs, and utilities.

Before you spend too much time looking at listings, make sure to get pre-approved for a mortgage to understand how much you can spend on your home. Above all, prioritize the features you require in a home. Do you need multiple bedrooms, a home office, or a large fenced yard? List these must-haves and compare them to your budget.

Passes Home Inspection

When you're on the hunt for a new house, passing a home inspection is essential to ensure you're making a sound investment. A thorough inspection can reveal potential issues that might not be visible during a casual walkthrough.

Look for a certified inspector who'll check the major systems of the house, including electrical, plumbing, and HVAC. They'll also assess the roof, foundation, and structural integrity.

Pay close attention to any red flags in the inspection report, especially those related to safety hazards or expensive repairs. Issues like faulty wiring, plumbing leaks, or a failing roof can lead to significant costs down the road, to say nothing of their disruptive impact on daily life.

It's advisable to ask the seller to address these problems or negotiate a lower price to cover the cost of future repairs, and with a thorough home inspection, you'll be in a better position to do so.

Features That Are Nice to Have in a House

When considering nice-to-have features in a house, think about extra living spaces like a finished basement or sunroom, outdoor living areas, and perks like a spacious patio, a swimming pool, or a great view. These extras can offer relaxation and entertainment, enhancing everyday life.

Extra Living Spaces

A few well-chosen extra living spaces can greatly improve the comfort and functionality of your home. For starters, a home office can provide a dedicated space for productivity, free from household distractions, while a finished basement can serve multiple purposes, from a recreation room for activities to a guest suite for visitors. In both cases, flexibility is key.

A sunroom could be another fantastic extra living space if you like the idea of having a serene spot for relaxation, reading, or enjoying indoor plants. The natural light can improve your mood and create a pleasant environment year-round.

When listing out your nice-to-haves, don't overlook the value of a spacious laundry room. Having ample storage and counter space for folding clothes can streamline household chores and keep the rest of the house organized. Similarly, a mudroom could be useful as a designated area for shoes, coats, and backpacks, keeping the main living areas clutter-free.

Finally, consider a media room. Equipped with comfortable seating and a large screen, this space can be the perfect spot for movie nights or entertaining guests.

Swimming Pool

Imagine the luxury that a swimming pool can bring to your home. A pool isn't just a status symbol—it's a functional feature offering relaxation, exercise, and a great way to entertain guests. That said, when considering a home with a swimming pool, you should evaluate several factors to make sure it meets your needs and lifestyle.

First, think about the type of pool you prefer. In-ground pools offer durability and aesthetic appeal, while above-ground options are generally more affordable and easier to install. Consider the pool's size and shape, as these should fit the yard and complement the home's design.

Maintenance is another critical aspect. Pools require regular upkeep, including cleaning and chemical balancing, to ensure water safety and longevity. Investigate the costs and time commitment involved, or explore hiring a professional service.

Safety features are also essential. Look for homes with secure fencing, pool covers, and alarms to prevent accidents. In some areas, pool fencing may even be a legal requirement.

Outdoor Living Areas

Creating an inviting outdoor living area can greatly enhance a home's appeal and provide an enjoyable space for relaxation and entertainment. When considering outdoor features, think about how you envision using the space. For instance, a patio or deck can serve as an extension of your indoor living area, perfect for hosting gatherings or enjoying quiet evenings.

Incorporate comfortable seating and a dining area to create a versatile space. If you love cooking outdoors, look for homes with built-in grills or outdoor kitchens. These features not only add convenience but also can increase a home's value.

Landscaping is another vital element. Well-maintained gardens, lawns, and trees can provide shade and privacy, making your outdoor area more enjoyable. Consider homes with mature landscaping or the potential to create your own green oasis.

Additionally, consider practical aspects like outdoor lighting and weather protection. Proper lighting extends the usability of your space into the evening, while features like pergolas or retractable awnings offer protection from sun and rain.

Prioritize elements that align with your lifestyle and preferences to make the most of your outdoor living area. Thoughtful planning can create a space that's both beautiful and functional.

Find Your Dream Home Sooner

Crafting a detailed home-buying wishlist can set you up for success. By distinguishing between your needs and wants, you'll be able to streamline your search and guarantee essential features like location and space are prioritized while considering future growth and resale value. Use your wishlist as a guide to finding a home that best aligns with your lifestyle and aspirations.