Buying a New Home: Save Time and Money with this 10-Point Checklist wortechnologies.com Business Art

When money's not an issue, it's absolutely possible to get virtually everything you want in your new home -- from size, to building type, to location. But money is almost always an issue. And that's where this checklist comes in.

By taking a good close look at your wants, needs, and priorities -- before you begin your search -- you'll be more likely to end up purchasing a new home that meets all of your requirements, at a price you can afford.

PART I: Finding Your Style

Grab a piece of paper now, and write (yes, write!) a detailed description of your preferences in the following categories:

1 -- Budget: Okay, let's start with the tough one. How much can you afford to spend? How much do you really want to spend? When figuring out your budget, be sure to look at down payment, closing costs, monthly expenses (mortgage, common charges, etc.), and assets available after closing.

2 -- Living Space: What size home do you have now? Will you need more space -- or less -- in your new home? Will you need any multi-purpose rooms (for example, a family room/home office)? A formal dining room, or eat-in kitchen? Any kids-only -- or adults-only -- areas?

3 -- Bedrooms: How many bedrooms do you need now? How many do you think you will need in five years?

4 -- Bathrooms: How many do you really need? Could a half-bath work for you?

5 -- Building Style: Pre-war or modern? Single family home, townhouse, or high-rise? Any particular architectural style (Tudor, Victorian, Craftsman, etc.)?

6 -- Special Features: High ceilings? One-floor layout, or multi-level? Loft space? Architectural detail? Designer touches? Open plan? Special windows? Outdoor space? Newly renovated? Views?

7 -- Building Amenities: In a large building, consider whether you'll need a doorman, concierge, laundry room, health club, roof deck, bike room, live-in super, storage space, parking.

If you're purchasing a single-family home -- or in a smaller building -- think about whether you'll need an elevator, garage, basement/attic, garden, yard, privacy fencing, etc.

8 -- Special Considerations: Will this be your primary residence, or an investment property? Are you willing to renovate? If so, fixer-upper, or total wreck? Do you need handicap access or parking? Do you have a pet?

9 -- Neighborhood: Downtown or suburban? Lively or quiet? Near shopping, restaurants, parks, or museums? In a particular school district? Near public transportation? Easy commute to your job? Anything else?

10 -- Timing: Do you have a lease that's expiring? Do you need to sell your home before you purchase? Do you have a target moving date in mind? Can you be flexible in order to accommodate the seller?

And for Manhattan Purchasers, Co-op or Condo? For some buyers, a condo is clearly the best choice; for others, a co-op can be a much better option. For more detailed information about the pros and cons of each, and which could make the most sense for you, please feel free to email me at kathy@kathygulrich.com; I'll be happy to help you decide.

PART II: Getting Down to Business

Now that you know what your "dream home" looks like, it's time to make that dream a reality -- within your budget!

Take a few minutes to go through your answers to Part I, and determine which things you'd put in the "Can't Live Without" category. Be realistic, and be tough. Don't put anything on this list that you could be a bit more flexible about.

Next, circle the things that you'd really love to have in your new home; the characteristics, or details, or amenities that are true priorities for you. Do certain things -- or certain categories -- stand out? Do you notice any trends?

And then simply cross out anything you wrote that no longer seems important.

When you begin looking for your new home -- or when you meet with your real estate agent (more about finding a great one, here) -- be sure to have your "Can't Live Without" list, and the description of your priorities, handy. With these parameters in mind, be as flexible -- and open to the unexpected -- as you can.

This well-thought-out reminder of what's really important to you will help keep you focused and on track during your search for a new home. And it may even help you recognize a hidden jewel that you might have otherwise overlooked.

About the Author
Kathy knows firsthand the frustrations - and joys - that relocating a home can bring, and shares a wealth of practical experience and knowledge with her buyers and sellers. Clients are first drawn to Kathy's energy and enthusiasm, and then impressed by her hard work on their behalf. Kathy is as comfortable with "the numbers" of making a real estate deal as she is helping clients with the "softer" side of home ownership. No surprise, actually. She holds a bachelor's of art in Music from Rutgers University, and a M.Ed. in Mathematics from West Chester College in Pennsylvania. Kathy is also a best-selling author (Build Your Business with Testimonials was released in 2006); and she is a fine artist, with paintings in private and museum collections worldwide. A New York licensed Associate Real Estate Broker and an Accredited Home-Staging Specialist (AHS), Kathy brings an interesting combination of logic and creativity to everything she does. Kathy Gulrich may be contacted at http://www.kathygulrich.com. Click here to view more articles by Kathy Gulrich.