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Step 1: Identifying Your Home Needs
The first step in the home buying process is to identify what you need from a home. You must determine what it is that you absolutely need and what it is that you would want to have in your home. This will enable you to narrow down your search based upon your requirements.
Create three categories and assign your requirements under one of these three categories.
Must Absolutely Have: These are all the features that must be present in the house that you are about to buy.
Would Want to Have: These are all the features that you would want to have in the house but are not absolutely necessary.
Good to have (optional): These are all the features which may be an added bonus in the house but you can do without.
List of Features or criteria that you may consider for requirement analysis:
LOCATION related requirements
Commute Factor: To work, Market, Shopping centers, Distance from nearest city etc. General Location: In a neighborhood setting, Secluded lot, Near schools and church, Good view
Town/City data: Town/City statistics, Schools, Real-estate taxes, Property value etc.
Local services: Sewage, Water supply, Trash & Garbage disposal, Police & Fire protection, Hospital, Places of worship, Library, Recreation, Nearest lake or beach, Public transportation, Parks
Any Nuisances: Any nearby sources of noise, smoke, dust, hazardous waste, factories
Traffic: Nearby Road, Street Setting, Dead-End street etc.
Neighborhood: New neighborhood development, Old house in an established neighborhood etc.
HOUSE requirements
Price Range: Identify an approximate price range
Type of Unit: Single Family, Multi-family, Condominium etc.
House Type: Colonial, Split, Ranch, Contemporary
Size: Square footage of Lot, Living-space
House Age: Brand New Construction, Old house, etc.
House Condition: No work required, needs some long/short term work, needs a lot of work in long/short term, needs work before moving in.
Total Number of Rooms
Number of Bedrooms
Number of Baths
Size of rooms
Size of kitchen
Basement: Size, Finished/Unfinished
Attic: Finished/Unfinished
Closets: In Master bedroom, in other rooms. Other storage areas.
Number of Levels
Front & Back Yard: Wooded, Landscaped etc.
Garage: Attached, Detached, Under, For how many cars
Deck, Porch, Patio, Sun-room
Appliances: Refrigerator, Microwave, Dishwasher, Laundry Washer & Dryer, Central Vaccum etc.
Other Amenities: Fireplace, Central air-conditioning, Hardwood floors, Wall-to wall carpeting, Mud room, Skylight(s) etc.
Security features: Automatic garage door opener(s), Deadbolt locks, Security system.
Special Needs: Wide hallways, High roof, etc.
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