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Buyer's Should Know Their Needs, Wants & Deal Breakers

Blog by Matt Carre | November 7th, 2011

When you embark on the process of buying a new home a good place to start is with a list.  I’m biased to this idea because I love making lists (I make lists about lists) but the truth is that it’s a good way to organize your thoughts.  It’s also a good way to make sure you are on the same page as the other person(s) you are buying the property with.

Deal breakers are just that.  They are the items on your list that if a home does or doesn’t have you won’t buy it.  It might be location; if you have to live in a certain neighbourhood then buying in another one is probably a deal breaker.  Deal breakers also tend to be things that cannot be easily changed, like location!

A need is something that’s important and you want but if a home had everything else on your list you might be willing to compromise on it.  Needs are usually things that can be changed too, such as cosmetic things.  A want is self explanatory.  It’s something you would love to have in the house but if it’s not there that’s okay.

Everyone’s priorities are different so their lists will be different.  For example when we are looking at homes a deal breaker for us is a yard that is not fenced or landscaped.  We have 2 dogs so we have to be able to open the back door and let them out on moving day.  Let’s say there are 2 buyers looking at homes with a back lane and detached garages.  One buyer might feel that no garage is a deal breaker, if it’s not there they don’t want to see it, but another buyer might think that’s a need; it’s ideal if there is one but if everything else about the house was perfect they would be willing to build the garage themselves.

Knowing your needs, wants and deal breakers is only the first step, after you’ve identified them you have to tell your REALTOR®.  If my clients tell me that they have 6 foot long china hutch that’s a family heirloom and it must go in their dining area then I have that on my mind every time I look at a house on the internet and every time we go into a house to look at it.  If I know what’s important to you I can better help you find what you are looking for.