It can be difficult to find a property that meets all of your needs in today's market. A home that meets your needs can be found if you know what characteristics are actually necessary and which ones are only good extras.

Realtor.com Chief Economist Danielle Hale describes it this way:

“Focus on the goal you set out for yourself, like your list of must-haves and nice-to-haves and your budget, . . . Stick to that. Be persistent.”

— Danielle Hale

Thus, how can you create your wish list of desirable features? The first step is to obtain mortgage pre-approval. Pre-approval enables you to gain a better understanding of your budget, which influences how you craft your list. After all, you don't want to fall in love with a home that’s too far out of reach.

Once you've established your budget, you can begin listing all of the features you want in a home. Consider the following before you begin:

• Must-Haves – If a house lacks these features, it won’t work for you and your lifestyle. (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).

• Nice-To-Haves – These are the features you wish you had but can live without. Although these are not dealbreakers, if you locate a property that meets all of the must-haves and a few of these, it is a candidate. (examples: a second home office, garage, etc.).

• Dream State– This is the point at which you can truly think big. Again, these are not necessities, but if you can locate a home within your budget that includes all of the must-haves, the majority of the nice-to-haves, and any of these, you've found a clear winner. (examples: farmhouse sink, multiple walk-in closets, etc.).

Finally, once you've compiled your list and organized it according to your preferences, discuss it with your real estate expert. They'll be able to assist you with further refining the list, coaching you on the best way to stick to it, and locating a home in your area that suits your needs.

Bottom Line

While creating a home search checklist may seem trivial, it can save you time and money. Additionally, it is one of the keys to success in today's competitive market. Let's connect so that we can work on finding the perfect home for your preferences and needs.