Wants vs. Needs Worksheet

Walkability to a downtown core and waterfront or view carry the steepest premiums — often six figures over an equivalent home a few minutes out. Naming these as premiums rather than needs is what keeps your budget honest.

School-district boundary (LWSD or BSD405) and a commute ceiling. They protect both daily quality of life and resale, and buyers who trade them away for a feature that photographs well tend to regret it first.

Treat older charm as a want with a recurring cost: budget maintenance toward the top of the range (2–3% of value a year on older homes versus about 1% on newer). If you love the charm, fund the upkeep instead of assuming it away.

Yes. Slope lots add drainage and retaining-wall risk and can raise long-term upkeep. The view is a real premium; the drainage load underneath it is a real cost. Score both.

Use the trade-off test: for every want, write down exactly what you'd give up to get it. "Waterfront but +25 minutes each way" reads very differently on paper than it feels at an open house.

Let the needs break it: boundary and commute. Wants are how you rank options; needs are how you decide between them.

Converting your needs into a target price and a filtered set of homes — the first half of a Real Estate Review.