Tami Savage, Realtor

Your Key to a New Lifestyle

  • Search for Homes
  • Blog
  • About
  • Contact
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market

December 5, 2022 By Tami Savage

Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market

There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll need to be strategic so you can find a home that meets your needs and budget.

Danielle Hale, Chief Economist at realtor.com, explains:

“The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, . . . Another key point is to avoid stretching your budget, as tempting as it may be given the diminished purchasing power.”

In other words, it’s important to be mindful of what’s a necessity and what’s a nice-to-have when searching for a home. And the best way to understand this is to put together a list of desired features for your home search.

The first step? Get pre-approved for a mortgage. Pre-approval helps you better understand what you can borrow for your home loan, and that plays an important role in how you’ll craft your list. After all, you don’t want to fall in love with a home that’s out of reach. Once you have a good grasp of your budget, you can begin to list (and prioritize) all the features of a home you would like.

Here’s a great way to think about them before you begin:

  • Must-Haves – If a house doesn’t have these features, it won’t work for you and your lifestyle (examples: distance from work or loved ones, number of bedrooms/bathrooms, etc.).
  • Nice-To-Haves – These are features that you’d love to have but can live without. Nice-To-Haves aren’t dealbreakers, but if you find a home that hits all the must-haves and some of the these, it’s a contender (examples: a second home office, a garage, etc.).
  • Dream State – This is where you can really think big. Again, these aren’t features you’ll need, but if you find a home in your budget that has all the must-haves, most of the nice-to-haves, and any of these, it’s a clear winner (examples: farmhouse sink, multiple walk-in closets, etc.).

Finally, once you’ve created your list and categorized it in a way that works for you, discuss it with your real estate advisor. They’ll be able to help you refine the list further, coach you through the best way to stick to it, and find a home in your area that meets your needs.

Bottom Line

Putting together your list of necessary features for your next home might seem like a small task, but it’s a crucial first step on your homebuying journey today. If you’re ready to find a home that fits your needs, let’s connect.

Tagged With: Buying Myths, First Time Home Buyers, For Buyers, Move-Up Buyers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Free eGuide. Things to Consider When Buying a Home. Send me this eGuide.

Free eGuide. Things to Consider When Selling Your House. Send me this eGuide.

A Guide to Buying Your First Home. Send me this eGuide.

Tags

Baby Boomers Buying Myths Community Demographics Distressed Properties Downloadable Down Payments First Time Home Buyers Forbearances For Buyers Foreclosures For Sale By Owners For Sellers FSBOs Garden Generation X Generation Z Gen X Gen Z Holidays Home Household Management Housing Market Updates Infographics Interest Rates Interview Investors Lifestyle Luxury Market Millennials Move-Up Buyers moving New Construction Pricing relocation Remodel Rent vs Buy Report Reviews Selling Myths Senior Market Short Sales Tax Refund Veterans Video

Free eGuide. Things to Consider When Selling Your House. Send me this eGuide.

Free eGuide. Things to Consider When Buying a Home. Send me this eGuide.

Tags

Baby Boomers Buying Myths Community Demographics Distressed Properties Downloadable Down Payments First Time Home Buyers Forbearances For Buyers Foreclosures For Sale By Owners For Sellers FSBOs Garden Generation X Generation Z Gen X Gen Z Holidays Home Household Management Housing Market Updates Infographics Interest Rates Interview Investors Lifestyle Luxury Market Millennials Move-Up Buyers moving New Construction Pricing relocation Remodel Rent vs Buy Report Reviews Selling Myths Senior Market Short Sales Tax Refund Veterans Video

Designations & Certifications

🏡 𝐘𝐨𝐮𝐫 𝐇𝐨𝐦𝐞, 𝐘𝐨𝐮𝐫 𝐑𝐮𝐥𝐞𝐬! 📜
Owning a home is more than just an investment or dollars & cents; it's a life upgrade!

🎨 𝐅𝐫𝐞𝐞𝐝𝐨𝐦 𝐭𝐨 𝐃𝐞𝐜𝐨𝐫𝐚𝐭𝐞, 𝐂𝐫𝐞𝐚𝐭𝐞, & 𝐌𝐨𝐝𝐢𝐟𝐲 🛠️
You wanna paint that living room lime green? Go for it!
Want a glass front door instead of solid wood? Change it!
Want to knock down a wall or add a home office? You can!

👪 𝐅𝐚𝐦𝐢𝐥𝐲 𝐂𝐨𝐦𝐞𝐬 𝐅𝐢𝐫𝐬𝐭
A home is the perfect place to watch your kids grow and make lasting memories. More importantly, it adds stability!

🏘️ 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐨𝐧
Neighbors aren't just the folks next door; they're your support system.

Ready to make the move and enrich your life? Holler at me anytime! 📲

For more Insights: https://tamisavage.com/the-many-non-financial-benefits-of-homeownership/
💼 𝐑𝐞𝐦𝐨𝐭𝐞 𝐖𝐨𝐫𝐤 = 𝐌𝐨𝐫𝐞 𝐇𝐨𝐦𝐞 𝐎𝐩𝐭𝐢𝐨𝐧𝐬! 🏡 𝐋𝐞𝐭'𝐬 𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐭𝐡𝐞 𝐃𝐨𝐭𝐬!

Remote work isn't just about Zoom calls in PJs. It's an opportunity to change your entire home search game!

💡 𝐅𝐥𝐞𝐱𝐢𝐛𝐢𝐥𝐢𝐭𝐲 = 𝐌𝐨𝐫𝐞 𝐎𝐩𝐭𝐢𝐨𝐧𝐬
Think bigger yards, extra rooms, and maybe even a lower cost of living! 🎉

Curious? Call, text, or email me, and let's talk! 📲

👉 Blog Link for all the ins and outs: https://tamisavage.com/remote-work-is-changing-how-some-buyers-search-for-their-dream-homes/

#RemoteWork  #HomeBuying #DreamHome #LocationFlexibility #WorkFromHome #HomeSearch #PropertyHunt #RealEstateMarket #ModernWork #NewNormal #LifestyleUpgrade #realestatenews #realestateexpert #realestateadvice #realestateblog #TamiSavageRealtor #realestate #realtor #realestateagent #cummingga #miltonga #cantonga #alpharettaga #ballgroundga
🏡 Wondering if Now’s the Right Time to Sell? 🏡 Wondering if Now’s the Right Time to Sell? Your Home Equity Might Just Be Your Ace! 🏡

Equity = Your Home's Value - What You Owe. 🤑 And here's the kicker—nearly 70% of homeowners are sitting pretty with significant equity. So if you've been holding off selling due to mortgage rates, this could be your game-changer!

📲 Got questions about your home equity? Don’t hesitate to call, text, or email me anytime!

👉 Want the full scoop? Check out my latest article on how your home equity can offset affordability challenges: https://tamisavage.com/your-home-equity-can-offset-affordability-challenges/
Regardless of rising mortgage rates, the desire fo Regardless of rising mortgage rates, the desire for dream homes remains strong! 🏡 Buyers are actively searching, eager to find their perfect match. ⁠
⁠
If you've been waiting in the wings, it might just be your time to shine.  No need to hit pause for fear of silent echoes. The marketplace is humming and ready for your listing!⁠
⁠
Ready to spotlight your home? Let’s get you connected with eager buyers!⁠
⁠
https://tamisavage.com/plenty-of-buyers-are-still-active-today-infographic/
Puzzling over why finding the right house seems so Puzzling over why finding the right house seems so challenging lately?⁠
⁠
1️⃣ 𝐓𝐡𝐞 𝐁𝐮𝐢𝐥𝐝𝐞𝐫'𝐬 𝐁𝐚𝐜𝐤𝐥𝐨𝐠: We've seen fewer homes built in recent years. And while builders are stepping up the pace, bridging the home gap is taking time. 🏗️⁠
⁠
2️⃣ 𝐌𝐨𝐫𝐭𝐠𝐚𝐠𝐞 𝐑𝐚𝐭𝐞 𝐌𝐚𝐠𝐧𝐞𝐭: Many homeowners are glued to their spots, not wanting to let go of their attractive mortgage rates. 💎⁠
⁠
3️⃣ 𝐌𝐞𝐝𝐢𝐚 𝐇𝐲𝐩𝐞: Sometimes, the media's spin can create unnecessary housing apprehensions. Always good to double-check and get the real story!⁠
⁠
So, whether you're aiming to buy, sell, or both, understanding today's housing scene is crucial. 🗝️⁠
⁠
Eager to dive deeper? Contact me for a personalized look at the housing inventory in our area, and let's navigate the maze together! ⁠
⁠
For a more detailed breakdown: https://tamisavage.com/why-is-housing-inventory-so-low/
Has your trusty home started feeling a tad too... Has your trusty home started feeling a tad too... familiar? If you're toying with the idea of a change, you're in good company!⁠
⁠
𝐇𝐞𝐫𝐞'𝐬 𝐭𝐡𝐞 𝐦𝐢𝐥𝐥𝐢𝐨𝐧-𝐝𝐨𝐥𝐥𝐚𝐫 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧: To buy or to rent next?⁠
⁠
🔍 Consider the following:⁠
⁠
1️⃣ Rent Rise Alert! Historically, rents have been climbing. Yearly hikes? That could put a dent in your retirement fund! Freddie Mac puts it beautifully: With fixed-rate loans, you're locking in a predictable monthly expense, even when life throws those sneaky financial curveballs.⁠
⁠
2️⃣ Home Sweet Owned Home! AARP highlights a key truth: Owning a home often outweighs renting. Think stability, investment growth, and truly owning your space.⁠
⁠
Baby boomers, if you're on the fence, reach out! 💬 Let's discuss what makes sense for your golden years and unlock the best path for your next home adventure. 🏡⁠
⁠
https://tamisavage.com/should-baby-boomers-buy-or-rent-after-selling-their-houses/
Have you ever wondered how tomorrow's home prices Have you ever wondered how tomorrow's home prices might shape your investment today?⁠
⁠
Amidst a sea of mixed news, here's a ray of sunshine: home prices are rising, better than many expected. And guess what? They're forecasted to keep shining bright!⁠
⁠
A recent survey by Pulsenomics got the scoop from over 100 experts – economists, strategists, and analysts. The consensus? Nationwide home prices are likely to continue their upward trajectory in the coming years, returning to a more steady growth.⁠
⁠
So, what's the golden nugget for you? 🌟 Once you invest in a home, as its value appreciates, so does your wealth! Think of it as planting a tree that grows money leaves over time. 🌳💰⁠
⁠
Considering taking the homebuying leap? Here's the nudge you might need: Today's investment can pave the way for a bright financial future, with your home's value (and your net worth) blossoming. Ready to explore? 💌 Contact me, and let's embark on your homebuying journey! 🚀 ⁠
⁠
https://tamisavage.com/what-experts-project-for-home-prices-over-the-next-5-years/
Retiring is like unlocking a new level in the game Retiring is like unlocking a new level in the game of life. 🗝️ As you step into this adventurous chapter, you might wonder, "Is my current home in sync with the life I envision now?"⁠
⁠
🕰️ Quick flashback: Between 1985-2009, most folks stayed in their homes for about six years. But here's an interesting twist: Post-2010, according to our pals at the National Association of Realtors (NAR), this shot up to over nine years!⁠
⁠
If you've been cozying up in your home for a while now, not only have you created cherished memories, but you might also be sitting on a treasure trove of equity. Yup, every mortgage payment and every market surge could mean more value for your home.⁠
⁠
Are you curious about tapping into that equity for your dream retirement home? Let's chat! Contact me, and let’s dive deep into what your home has achieved for you over the years. ⁠
⁠
Here's to new beginnings and perfect homes! 🏡⁠
⁠
https://tamisavage.com/planning-to-retire-your-equity-can-help-you-make-a-move/
Load More Follow on Instagram
The Summer Guides for Buying and Selling a Home are Here.

To get the latest digital copy, go to https://tamisavage.com/the-spring-guides-for-buying-and-selling-a-home-are-here/
The Spring Guides for Buying and Selling a Home Are Here
How you price your house will make a big difference to not only your bottom line, but to how quickly it could sell. Let’s connect to figure out the ideal price for your house.
Price Your House Right When You Sell
Getting pre-approved is an important first step toward buying a home. Let’s connect so you have the right tools to buy a home in today’s market.

Data Source:
 • https://www.forbes.com/advisor/mortgages/what-it-takes-to-be-preapproved-for-a-mortgage-and-why-it-matters/
The Importance of Pre-Approval
There are many reasons why it’s easy to fall in love with homeownership. If you’re ready to find the home of your dreams, let’s connect.
Why It's Easy To Fall in Love with Homeownership
You can have the home you want without waiting for the perfect home to come onto the market.

SOURCE for Data in Video: 
 • https://themreport.com/news/data/08-29-2022/homebuyers-compromise
Create Your Perfect Home by Perfecting It After You Purchase
Before buying a home, it’s a good idea to know why homeownership is important to you. Let’s connect to discuss your why and prioritize your next steps.

SOURCE for Data in Video: 
 • https://himaxwell.com/resources/ebooks-white-papers/1h-2022-millennial-genz-borrower-sentiment-report/#downloadnow
Top Reasons Why You May Want To Buy a Home
There’s a lot going on in the housing market right now. 

You can get the latest digital copy from my website post: https://tamisavage.com/the-winter-guides-for-buying-or-selling-a-home-are-here/
The Winter Guides for Buying or Selling a Home Are Here
There’s good reason to make your move right now if you’re ready to sell. Let’s connect to talk about the benefits of selling your house this season.
5 Reasons To Sell Your House This Winter
Rents have risen dramatically for over three decades. Let’s connect so you can have expert advice on your side to help you reach your homeownership goals.

Data Source: 
 • http://www.census.gov/housing/hvs/files/currenthvspress.pdf
Avoid the Rental Trap
Load More... Subscribe

Let’s Connect

770-744-2524‬ or
(888) 959-9461 x2543

Digitial Business Card

 

Calculate Mortgage Payments

www.mlcalc.com
Copyright © 2019+ Tami Savage LLC. All Rights Reserved. Privacy Policy

DISCLAIMER: The information contained, and the opinions expressed, on this site are NOT intended to be construed as legal or financial advice. Tami Savage does NOT guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as legal or financial advice. You should ALWAYS conduct your own research and due diligence and obtain professional advice before making any legal or financial decisions. Tami Savage will NOT be liable for any loss or damage caused by your reliance on the information or opinions contained herein.