Client:“Ok, we need
a 4 bedroom…or maybe 5, yeah five would be nice, single story home, on a
cul-de-sac, that’s a recently built home, with no HOA…oh…yea and low property
taxes…some really mature trees, a three car garage…oh…and maybe a pool...that would be OK. "
Me: “No you
don’t.”
I hate to say it, but I’m gonna.
We live in a ridiculously materialistic time. We “want” things because, unconsciously, wanting actually feels good! The excitement, anticipation, and enthusiasm of that Amazon package arriving on our porch is sometimes more pleasurable than actually receiving the package itself. Our egos are crazy like that!
I’ve recently seen 4 or 5 families that I personally know, completely renovate their kitchens, In each of these cases, the kitchens were less than ten years old, and were, by any standard, stunning as they were. Kitchens with dark cabinets got new white ones. Kitchens with white cabinets added glass and bright colors. Kitchens with tile floors got hardwood, and the kitchens with granite counter tops got…um…usually just different granite. Stunning? Yes. Needed? Of course not. Not even close.
When looking for a home, let’s define our “needs” first, then we’ll see if we can add a few of those “wants” along the way.
We live in a ridiculously materialistic time. We “want” things because, unconsciously, wanting actually feels good! The excitement, anticipation, and enthusiasm of that Amazon package arriving on our porch is sometimes more pleasurable than actually receiving the package itself. Our egos are crazy like that!
I’ve recently seen 4 or 5 families that I personally know, completely renovate their kitchens, In each of these cases, the kitchens were less than ten years old, and were, by any standard, stunning as they were. Kitchens with dark cabinets got new white ones. Kitchens with white cabinets added glass and bright colors. Kitchens with tile floors got hardwood, and the kitchens with granite counter tops got…um…usually just different granite. Stunning? Yes. Needed? Of course not. Not even close.
When looking for a home, let’s define our “needs” first, then we’ll see if we can add a few of those “wants” along the way.
Going way back, "we" needed:
- At least one bedroom for the parents.
- Enough room for each child to sleep comfortably.
- A modest kitchen.
- At least one full bathroom
- Covered Parking.
- A master bedroom: A Large room with an attached bathroom, shower, bath, and vanity.
- One bedroom per child.
- An additional bathroom, separate from the master bathroom.
- An attached two-car garage.
- A front yard and a back yard.
- An office or den
- Preferred single story floorplan (a premium in many developments)
- A “Great Room” or open concept kitchen/family room
- A 3 or 4 car garage
- Formal Living Room
- Formal Dining Room
- Walk In Closets
- A guest room (that might be used twice per year)
In the 1950’s, it wasn’t
uncommon for a family of 6 to live in a home that was 1,150 sq. ft. Today, the
average size of a single family home is nearly 2,400 sq. ft., with many
developments selling tract homes in excess of 4,000 sq. ft.
Here’s where the art of listening; the art of differentiation comes in!
Often, it’s more about an agent’s ability to interpret what the
client “means” as opposed to what the client “says.”
Consider this common dialogue between many home buyers and me:
Client: “We’re looking for 4 or 5 bedrooms, and…”
Agent: Spoken after a
strategic pause, “Ok…so…do you need 4 or 5?”
Client: “Well we have two kids, but we also need an office and a
playroom for the kids.”
Agent: “So you actually need 3 bedrooms!”
Que the clients looking at each other with thoughts of
“Dude! This guys just isn’t listening!”
What these clients actually need is a three bedroom home
with a den or a loft or an extra bedroom or a media niche or a willingness to
use a formal dining room as an office or playroom or a three-car garage that
can be converted into a two car with an additional room…and on and on. That is
the difference between what I think I need…and what I need.
What makes this conversation so important is recognizing
that very few homes have 5 bedrooms, so immediately requiring 5 bedrooms cuts our supply of homes by over 80%! The overwhelming majority of homes in America have 3
bedrooms, but many of those with three bedrooms have additional rooms and areas that
suit the varied needs of the client.
In addition, instead of being stuck on square footage and bedrooms and
bathrooms, there are countless other things to keep in mind when considering your needs and wants. Many of these
considerations are far, far more important than size and bedrooms. Consider the
list below:
- · Proximity to workplace
- · School district boundaries
- · Proximity to schools and extracurricular activites
- · A view
- · Orientation of the home on the lot
- · A planned development vs a rural area
Finally, I’ll stress this final point as it pertains to
needs and wants. You may, in fact, be able to afford what you want. However, this often leaves buyers in a
condition that Realtors often call “Mortgage Broke.” Yes, you can now afford your beautiful home,
with all of its needs and wants. But you
can no longer afford your other needs and wants, such as a night at the movies,
a summer road trip, back to school clothes, etc.
So, please consider what you absolutely need. Consider what
is ultimately more important that unnecessary features and luxuries at home. Consider
the lifestyle you would like to sustain. You might find that giving up that
guest room and asking your brother in law to sleep on the sofa over thanksgiving
weekend might allow you to afford those Disneyland trips every summer!
