In a matter of weeks, the office landscape, as we know it, changed drastically. The community quarantine measures came with travel restrictions and stay-at-home orders. As a result, bedrooms became the main workplace, while teleconference sufficed for team huddles and client meetings. Put simply, the coronavirus crisis introduced a new normal of work.
Before we start our journey this 2021, it’s best to reflect on our life goals and commitments and draw up our resolutions. For some, a big item in their resolution list is to invest in something significant. In this matter, a home is their first priority. If you feel like this is your year to take the big step into homeownership, then it’s important to make the necessary preparations as early as now.
Before you start planning your finances for this big purchase, consider this question: what will I need for my new home? By asking yourself this question, you’ll be able to adjust your budget accordingly. A realistic list of needs and wants will help serve as a reminder on your budget and guide your house hunting. Here’s what you should consider:
Needs are your absolute essentials. These are the items you need to live decently in a home that can accommodate your lifestyle. Here are some of the items you should have in your list of needs:
Where you live will greatly affect how long your travel time is to and from work, what kind of village you will be living in and how safe you and your family will be. You can do this by visiting the neighborhood you’ll be living in beforehand and try to gauge how you feel when you first arrive.
You should also try asking yourself these questions: Should work be just walking distance from me? Or is it okay if I take public transport? Should there be guards constantly roving around the neighborhood? Or is having them stationed at the guardhouse enough?
Once you get the answer to these questions, your next ocular should open your eyes to what you’re looking for. You can also time your visits on different times of different days. That way, you’ll be able to test the level of convenience or safety, seeing how busy the area gets in the morning and how safe you feel at night.
You should know before looking for your dream home just how much space you’ll be needing. Consider the requirements you think you’ll have in the next five to seven years. For example, if you’re planning to add kids to your family, you should make room for that. Remember, this isn’t just about the number of bedrooms or toilets but the amount of storage you will need.
Try considering how you use your current space right in relation to your lifestyle. Do you love hosting parties and inviting many guests? Do you usually invite people for sleepovers? If so, consider dedicating extra rooms to your list.
With your needs, you’re able to distinguish between the properties you were just kind-of looking at versus the properties you were really interested in. While some of them may be considered a bit “extra”, it is still worth writing them down so you have a guide when you go house-hunting.
1. Visual Appeal
What design are you going for? When you enter your home, what color scheme do you want to greet you? What floor types do you want? Be sure to list down all the color schemes, furniture, and appliance types you prefer. Take note that it’s hard to find a home that’s exactly to your liking so be a bit flexible with some of your requirements.
Perhaps you want a large backyard to host parties for when your balikbayans or loved ones come home for the usual Christmas celebrations in the Philippines. Maybe you’re considering getting a hot tub for your self-care spa days. It’s best to write all those down. Don’t be afraid to get some items you’re second-guessing unless these drive up the cost of your home purchase. Always prioritize the budget you’ve set.
3. High-end Features
In this category, you can list beautiful overlooking views, solar panels, water-saving faucets, and other luxury home features. If making your home high-end is on your agenda, focus on the items which really add extra value. Eco-friendly and sustainable features are excellent investments as they reduce the cost of living and increase the value of your property if you plan on selling it a few years down the line.
As we navigate 2021 and you start acting on your resolutions, you should ask yourself: what should my next home have? Learn the skill of creating a needs and wants list before hitting the market.