How to Prioritize Your Wish List When House Hunting

Any prospective homeowner's ultimate goal is to find the ideal house in the ideal neighborhood at the ideal price. However, almost as soon as you begin looking, you'll know that it's an unrealistic goal and that you'll have to settle for something a little less than perfect. Therefore, before you even start your search, it's important you decide what is crucial for your home to have and what you're willing to compromise on. That can be easier said than done, though, especially with the image of that perfect property hanging over your head. But don't worry because we're here to help you. We've consulted California's top real estate experts, and here's how to prioritize your wish list when house hunting.

House hunting is easier if you know how to prioritize your wish list

Buying a home is a thrilling and exciting experience. You might not have even started your search yet, but you've probably caught yourself imagining your new main bedroom and making mental lists of things to think about before moving. However, before you can focus on little things and figure out the details, you first need to focus all your attention on looking for your new home.

It's important to attend open houses with an open mind and understanding that finding a truly ideal home is highly unlikely.

So don't let the thoughts of your ideal home preoccupy you and turn your home-buying process into a much more challenging experience than it already is. Sure, it would be great to find a home that's just the right size for your family, has the nicest lot in the area, is in a convenient spot, and has plenty of storage space. In reality, you'll most likely have to settle and give up on some of the less important items on your wants and needs list. So without further ado, here's how to prioritize your wish list when house hunting.

#1 Make your wish list

First, to prioritize it, you first need to make your wish list. You can create a spreadsheet if you're feeling particularly organized or write down some thoughts on a napkin if you'd rather keep things simple. The important thing is to sit down with your family and start talking about what everyone wants in your new home. Make sure to write down every request, no matter how big or small.

#2 Determine how much you can afford

Having your finances in order before looking for a home can be a considerable advantage in a hot real estate market. On the other hand, knowing your financial limits will help you prioritize essential features in a new home.

Therefore, if you don't know your budget, now is the right time to determine it. The good idea is to review your financing options, too. Getting pre-approved for a mortgage will put you ahead of the competition if you end up in a bidding war for a home.

#3 Consider your current as well as future lifestyle

Perhaps you already have a mental image of your dream house. On the other hand, you might be at a loss for how to begin visualizing your new home. So to get started, think about your current home and everything you love and hate about it. That will help you determine the absolute musts for your new home.

For instance, you might need a fenced-in yard or other pet-friendly amenities. Or, you might be only willing to settle for a parking spot and avoid street parking. Consider your future plans, too. Perhaps you're planning on extending your family, or you're looking to start working from home soon. In those cases, you should prioritize extra space for a nursery or a home office.

#4 Be reasonable when it comes to your priorities

In order to find a property that meets your current needs, it's helpful to break down your wish list into essential features, desirable extras, and optional extras. Important features are your top priorities, which should be the things you're unwilling to give up on. The next step is selecting the top three to five features you absolutely must have. Even though not everything on your wish list will come true, you will undoubtedly be able to find a home that truly fits your needs.

#5 Prioritize things that can't change

When it comes to setting your top priorities, the best way to go is to focus on the things that can't be changed (the fixed features of the house or property). The longer you spend in a house, the more you'll be able to leave your personal mark and make it feel like home.

At the end of the day, floors can be replaced, walls can be knocked down to provide a more open floor plan, and an extra room can be added if you're feeling very ambitious. Therefore, focus on fixed features such as square footage, backyard size, solid foundation, bedroom and bathroom number, storage space, and similar.

We probably don't have to emphasize the importance of the location as "the most fixed feature" of any home. After all, it's one thing about a property that you can't change. Even if you tear down the house and build your dream property from scratch, the location will always remain the same. Therefore, it's crucial you thoroughly consider what location would be suitable for your current needs.

Wrapping up

We hope we were able to help you learn how to prioritize your wish list when house hunting. Even if you're still struggling to let go of some items from your list, don't hesitate to reach out to your knowledgeable real estate agent. They'll listen to you carefully, analyze your wants and list needs, and, based on that, find homes to show you that will truly blow you off your feet. Who knows, after going through this process, it might turn out your ideal property was something completely different than you initially imagined.