7 Ways to Spot Housing Needs vs. Housing Wants

As the Canadian real estate market becomes even more competitive, buyers are having to make tough choices when it comes to choosing between their housing needs and wants. Before you lose out on purchasing that potential dream home, learn how to weigh your wish list against a reality check.

Big Yard vs. Small Yard
If you harbour visions iof hosting neighborhood barbeques ina yard complete with a bubbling water feature and strings of bistro lights, it ,a be time to cale back this imaginary scene. Sure, a spacious sprawling yard in the summer sounds lvely nut unless yoou’re planning to start up a soccer-training acadamy, a smaller swath of sod shouldn’t be a dea breaker, Bonus…there is less lawn to rake.

Chef’s Kitchen vs. Regular Kitchen
A ceramic double-basin apro sink, a custom-made backsplash in the latest material and a six-burner range with a double oven…anyonne who’s searched dream kitchen knows all the featrues. But as long as the appliances work, the structure is sound and the room location makes sense, a designer kitchen can be on you “one day” lsit not your today list.

Bathrooms vs. Family Members
Imagine all the rooms in a house and think through how important each on is to maintaining the smooth, day to dayoperation of a household. If bathroom didn’t shoot to the top of your list, you’ve never lived in a housewith six other people and one bathroom. Having the right number of bathrooms for the size of your family should be a priority because it affects everyone in the hous…and reduces arguments about who is next in line.

Preferred Neighborhood vs. Cheaper Area
The old trope “location, location, location” didn’t appear out of thin air – location is super important to quality of life. It affects work commute times, public transit accessability, school districts, community amenities as well as personal identity. If these things are important to you, maybe opting for less square footage at a lower price is worth it. But, if you’re flexible maybe there’s a bordering but less popular neighborhood where that bargain still exists. Consider both options and decide where you stand before beginning your search.

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Finished Basement vs. Unfinished
In cities where lot sizes are severly limited, a finished basement provides so much extra square footage theat buyers fall over themselves trying to get into a property with one. If you’re planning to rent out as a mortgage helper, then it definitely has to stay on the “must” list. If your planning to put your hockey equipment there in between your Wednesday night games then having pretty pot lighting and wainscotting is not necessary.

Bedroom Count vs. Family Planning
Having an idea of how long you want to stay in a new house and how big your family could grow, should help determine how many bedrooms you may need. Moving is exhausting, expensive and an epic life upheaval…it’s also the last think you’d want to do if pregnant or just given birth to your third child while still living in a one bedroom apartment. Could you turn the home office into a child’s bedroom or renovate the unfinished basement with a bit of careful saving? These are all important factors to know before deciding on how many bedrooms you’ll need.

New Upgrades vs. Needs Upgrades
Flashy upgrades such as marble countertops, new flooring and a front porch makeover look amazing but the upgrades you really want to hear about are much less sexy. Updated heating and cooling systems, new energy efficient double-glazed windows, upgraded plumbing systems and eco-insulation installation are what you should be looking for. All that cosmetic stuff you can do to your own taste down the road. You want your home to be in tiptop condition