When your budget doesn’t match your wishlist

We’ve all seen it. The HGTV show that brings a family into a home that checks all the boxes on their wishlist. They immediately love the house and can’t wait to move in. But there is a catch. The house is way over their budget. They leave dejected, but make a new plan to find or create their dream home.

It’s fun dreaming up the perfect wishlist for your next home. And you should spend time thinking about all the features you would like. But wishlists often don’t match the budget. And that’s ok. It is important to have standards while searching, but you also need to be realistic. You can still find a home you love. You just need to change your perspective a bit. 

Be open-minded 

Most of the houses you visit have potential or else you wouldn't have bothered making the trip to see them. Be open-minded when touring a home and see the possibilities each home has to offer. Paint colors and different finishes are all things you can change over time to fit your aesthetic. 

Think creatively about the layout of the house. Is there a room used as a dining room that you could make a playroom? Or perhaps a bedroom is big enough to double as a guest room and office. Remember you don’t have to set the house up the same way the sellers currently do. With a little imagination you can see the possibilities and check more off your wishlist. 

Discover your must-haves 

You need to identify your wants vs. needs in your next home. There are a lot of features you might think you need, but after further reflection realize the fourth bedroom, for example, is just a want. Figure out what your bare minimums are. Focus on the features that add value to the property, such as number of baths and bedrooms or location. 

Once you know what you can't live without - for example a 2nd full bath - everything else a specific home offers is a bonus. When you search for the basics you open yourself up to more homes on the market. With more options to look at you just might surprise yourself at what you like. How can you discover new things if you aren't exposed to them?  

The Perfect House Myth

When people design and build their own custom home they will be thrilled to move in, but will be quick to tell you what they would change if they could. Why is that? Until you move into and live in a home, it is hard to determine the flow of a house and what works for your unique needs. Plus, your specific needs also change over time and your house is not always able to adapt with you. 

So, remember when you are house searching, there is no such thing as a perfect house. You turn the house you buy into your perfect home by adding your flair and ideas. If you try to wait for the perfect house, you will delay homeownership.  

Don't settle

Buying a home is the biggest purchase of your life. And it’s a commitment to live in that area for the foreseeable future. So, it’s important to have standards and know your must-haves. While you probably need to whittle down that wishlist, you shouldn’t let go of everything. You don’t want to settle for a house that doesn’t meet your needs. 

If the house doesn't fit, don't force it. There are other homes out there to see. You might just have to explore a bit further. If you do happen to find one you do like go for it! Don't let the pursuit of a nonexistent perfect home cause you to miss out.