JOSEPH SCROFANI JD - COMPLETE GUIDE TO BUYING A HOME

What can you afford, and what is out of your budget?

Budget usually constrains us the most when selecting a home. While some things are necessary for any home (e.g., a good roof and working appliances), others will stay on the list of desires for now (e.g., the sauna).

MAKE A LIST; CHECK IT T ; CHECK IT TWICE

You may have an impression of what you want in your new home. Writing that down and having a complete checklist can be helpful. Before starting your hunt for a new home, it’s advisable to list all your basic needs and desires, then prioritize the desires, figuring that all needs must be met in any house under consideration. This will make the search easier and help weed out the ones that don’t meet the basics. Realize, however, that it’s nearly impossible to find a home that meets all requirements. Compromises will be necessary. It’s a good idea to work from outside-the-house factors to inside-the-house. For example, location is perhaps the primary concern, and both “needs” and “wants” factors might be involved. A “need” would be “within 25 miles of work.” A want might be “would like Summerlin” (a favored neighborhood), while a need might be “on the north side of the city” (because work, family, friends, and recreation activities are all located there). Location needs may include proximity to schools, frequently used recreation facilities or modes of transportation (bus or suburban rail access). Whether an item is a need or a desire depends on circumstance.

Closeness to family might be a need for a couple with young

29

Powered by