Week 3

This 8-week series, How to Find the Perfect Home for You and Your Budget, will guide you through the home-buying process, ensuring that your next home aligns with your wants, needs, and, most importantly, your budget. There’s no reason you can’t dream big while still working within your financial means. Whether you’re a first-time homebuyer or moving up to a new home, understanding your priorities is key to making a successful purchase.

What’s Most Important to You?

Before you start house hunting, take a moment to reflect on what matters most in your future home. Ask yourself:

• Do you picture yourself in a lively neighborhood near restaurants and shops, or do you dream of a quiet, suburban setting?
• Do you care more about having a large kitchen, outdoor space, or extra storage?
• Are you willing to compromise on location or home size to stay within budget?

Most first-time buyers lean toward being either a “location person” (focused on the neighborhood and lifestyle) or a “house person” (prioritizing home features over location). Knowing which one you are will help you make informed decisions and avoid frustration during your search.

Making Your Three Lists

To gain clarity, make three lists based on what you want and need in your first home:

1. Location Priorities
   • Do you want to be near work, family, or entertainment?
   • How important is walkability or access to public transportation?
   • Are good schools a factor in your decision?
   • Do you prefer an urban, suburban, or rural setting?
2. Home Features
   • How many bedrooms and bathrooms do you need?
   • Do you want an open floor plan, a backyard, or a garage?
   • Would you consider a fixer-upper, or do you need a move-in-ready home?
   • What’s your preferred home type—condo, townhouse, or single-family home?
3. Deal Breakers
   • Is street parking a no-go?
   • Do you need a quiet neighborhood?
   • Are you unwilling to take on major renovations?

Balancing Location and Home Features

If you’re a “location person,” you may need to consider smaller homes, condos, or fixer-uppers to stay within budget. You can always renovate later, but you can’t change a home’s location.

If you’re a “house person,” you might find better value by expanding your search to different neighborhoods where your money goes further. Prioritizing space and home features over location can help you get more of what you want in your first home.

Next Steps

As a first-time homebuyer, knowing what you want (and what you can afford) is key to a smooth experience. If you’re unsure where to start, I’m here to help! Reach out to discuss your homebuying goals and create a strategy that fits your needs.

Stay tuned for next week’s article, The 3 Steps Most First-Time Buyers Skip When Buying a Home, where we’ll discuss how to avoid common pitfalls and make smart financial decisions for your first home.