Buying a new home? Have you prepared your home buying wish list yet? Before you even begin combing the market for that perfect property, one of the things to do before buying a new home is determine what makes up the ‘perfect property’ that will have all that you need, some things that you wanted, and even a few you might just have wished for. Keep reading to discover how to create a home buying wish list as per your requirements.
Creating a Home Buying Wish List
A new home wish list contains a number of aspects, primarily focusing on what are the must-haves for your new property, what features you might like to have as an additional perk, and what features you wish you could have but would probably not be able to find within your budget or location restrictions.
This means that you should essentially be dividing and evaluating all the aspects of a house buying wish list into Needs, Wants, and Wishes. Here are some of the aspects that you must give due consideration to, so that you can then search the real estate market as per your ‘Needs’ in a fairly streamlined manner:
- Floor Plan
- Outdoor Space
Let’s cover each of these essentials for a home buying wish list in detail below with a separate wish list for each that can be combined together for a comprehensive and clearer buying decision.
First things first, are you planning on moving from one city to another? If yes, then some tips to start over in a new city and knowing the cost of moving furniture across different cities in Pakistan is surely going to help you out.
However, even if you are not moving between cities, the location of your new home hold key importance and should never be overlooked. Even simply moving from the central or southern districts of a city like Karachi to its northern district or its outskirts is going to be a big change. Do you want that change? Do you need that change? Is that the only place where you can find a property that you can afford in your budget? These are some critical questions that you need to answer.
Once the city and the general location has been finalised, you can focus on the house buying wish list. Is it a priority for you to have good schools in the area? Do you need the home to be close to your workplace? Would you prefer a walking distance to a commercial area? Do you want area parks and landscaped surroundings in the neighbourhood? Do you have an elderly relative or family member with a medical condition for whom you’d prefer a quick access to a good hospital? Are you hoping to find a home near your immediate family to stay close to them? Is being close to entertainment options and leisure activities important to you? Would you prefer convenient access to public transport?
Here is what this part of the home buying wish list should look like:
|Public Transport Routes|
The location criteria talks about the property’s proximity to essential amenities but it does not cover the features that you’d love to have in the neighbourhood itself. This is what is covered in this part of the new home wish list.
Traffic is often at its noisiest on main roads, but many property investors still prefer the easy commute offered by a home on a main road. So, is that something that you can’t compromise on? Would you prefer a quiet and peaceful backroad property instead?
Similarly, is living in a family friendly community important to you to raise your kids? Would you prefer a society that is under 24/7 CCTV surveillance and has guards patrolling the premises? Do you think you’d feel safer in a gated community? Is it necessary for you to be able to enjoy a range of luxurious outdoor and indoor amenities, like a community centre, sports grounds, and swimming pools, in the community that you choose for your new house? Would you prefer a pet-friendly community?
Here’s how to deliberate on this:
|Close to Main Road|
|Peace and Quiet|
Considering that many developing housing communities offer both houses and flats with almost all of the above features within the neighbourhood, what kind of property would be your preference? Would you love to own a house or buy a flat? You’d also need to consider whether you’re looking for an old or a new property, especially if many of the above features aren’t a prerequisite and you’d rather invest in an older part of town to stick to your budget.
Of course, if you’re buying a home from an existing occupant, the repair condition will also need to be given due consideration, as well as the architectural style of the structure itself. Newer housing developments have modern interiors as exteriors while older parts of town might feature vintage, traditional, or even rustic buildings.
Once you’ve made these important decisions, focus on the home buying wish list for this aspect. Do you need a property that faces the west to maximise the flow of air and light into the space? Are you looking for a corner plot? Is it necessary to have amazing views from your home? Do you have a family member for whom you require disabled-friendly construction? Would you be okay with exposed plumbing? Are false ceilings a requirement? Do you want branded fixtures and fittings in your bathroom? Is having a bathtub just a dream that you wish you could attain? Would you love to have built-in storage spaces for your belongings?
The wish list for buying a home for this aspect may look like this:
|High-End Fixtures & Fittings|
Alongside the construction features of a property, you’ll also need to give due consideration to the number of bedrooms and bathrooms you require in your new home. Moreover, what is the approximate plot size that you are looking for? If you are currently living in a 5 marla house and find it getting smaller as your family grows, maybe an 8 or 10 marla property would be better suited to your needs. Debating over whether you want an open or a closed floor plan, whether you’d be more comfortable with the entire house being on a single floor or would prefer to have multiple levels is also essential.
Once all of these factors have been decided, you need to decide what you require in a floor plan. Do you want an open kitchen? A separate formal dining room? A spare room to use as a home office? Would you love to have ensuite bathrooms? Is it vital to have separate dressing areas in your bedrooms? Do you want a separate master bedroom in the floor plan? Is having a large terrace a requirement? Can you live in a house that offers little or no outdoor space?
The wish list for buying a home as per its floor plan should be like this:
|Separate Dining Room|
|Space for Home Office|
|Walk-in Dressing Areas|
In terms of outdoor space, the requirements become fairly simple. Do you want a backyard or a front garden? Do you need reserved parking for your car? Is having a covered garage a requirement? Would you love to have a swimming pool on the property or would you just be okay with a water feature that bubbles away merrily on watery tunes? Are you looking for an outdoor space that is fairly covered and offers a good amount of privacy? Do you want a large tree in the area around the house or would that be too much yard maintenance for you to handle? Would you love to have an outdoor entertainment space for guests?
The home buying wish list then looks like this:
These are some of the things to decide before looking for a new home. Remember that all of these aspects must be evaluated based on Needs, Wants, and Wishes. Needs are features that you cannot compromise on. Wants are additional perks that you might get within your money and might slide your decision in their favour. Wishes are things that you might dream about having in the ideal home, but might not be possible within your current budget.
You should simply tick the box that is aligned with your personal requirements and the needs of your family members in order to know what factors you cannot compromise on. Having a clear idea of what you need and want while buying a new home will help you when it’s time to make an investment decision.
Once you have clarified your own priorities, here are some things to look for when you’re viewing a home before purchase. We also have a guide for first-time homebuyers if you want to browse through it. Stay tuned to Zameen Blog for more investment tips. Reach us at firstname.lastname@example.org if you want to send us your comments on the post.