Relocation Tip #4 – Get Clear On Your Wants and Needs

When purchasing a home, it’s important to distinguish between your wants and needs, especially given the type of market you’re buying in. Here’s a list of common wants and needs to consider:


  1. Budget: Determine a price range you can comfortably afford, including mortgage payments, taxes, utilities and insurance.
  2. Location: Choose an area that meets your criteria for safety, commute, schools, and amenities.
  3. Property type: Identify the type of property you require, such as a single-family home, townhouse, or condo. That can also be in the want category depending on budget and market type at the time of purchase.
  4. Size: Determine the minimum number of bedrooms and bathrooms needed to accommodate your family.
  5. Essential features: List features that are non-negotiable, such as accessibility for family members with disabilities or a designated home office space.
  6. Condition: Consider whether you’re willing to take on a fixer-upper or if you need a move-in ready home. This one is also one that needs to be very well tough out: if you are buying a house and planning on being there for a short period, a fixer-upper might not be the best option. People seem to underestimate the amount of money and time needed for these projects. Again just one thing to consider.
  7. Future resale value: Factor in the potential for future growth in the area and the property’s potential for appreciation.


  1. Outdoor space: Note your preferences for a yard, patio, or deck. Do you want acreage or close neighbours…
  2. Garage or parking: Consider whether you need a garage or dedicated parking space.
  3. Extra rooms: List additional spaces you’d like, such as a bonus room, guest room, or finished basement.
  4. Upgrades: Note desired upgrades like high-end appliances, hardwood floors, or a fireplace.
  5. Neighbourhood amenities: List nearby amenities that you’d enjoy, like parks, gyms, or community pools.
  6. Proximity to points of interest: Note if you prefer to be close to shops, restaurants, entertainment venues, or public transportation.

In a seller’s market, where there’s more demand than supply, you might need to make concessions and prioritize your needs over your wants. In a buyer’s market, where supply exceeds demand, you’ll have more flexibility in negotiating and may be able to find a property that meets more of your wants.