By Joy JonesWhen you are dreaming of purchasing a first home the options are endless.However, in reality, it is not always possible to find a first home with everything, so buyers must decide in advance what items are “must-haves” and “nice-to-haves”.To help first-time home buyers, I would like to provide you with these tips to help you determine what you will need vs what is nice to have.1. Know your budget: It is so vitally important that you know your ultimate budget.Knowing your budget will help you to be realistic about what you can afford and it will also keep you focused during the search for a new home.It is of utmost importance that you meet with a lending institution so that they may assist in having you preapproved for a purchase.Once you are preapproved you will have the confidence to start the search process and you will know your limits on price.2. Choose your real-estate agent carefully: Be sure that you feel extremely comfortable and confident that your realtor will help you through the process in order to realise your dream of being a first time homebuyer.Do not be afraid to interview the agent by asking questions that are important to you.Remember your agent wants you to find your dream home as quickly as possible so that you and your loved ones can be happy and comfortable. Make sure that your agent knows your “NEEDS” and do not be afraid to ask them if they are ready to work with you!3. Location, location, location: Everyone has heard this phrase before when it comes to real estate.While the surrounding neighbourhood and home itself may improve over time, the physical location will always remain the same.Buyers should determine in advance your location perimeters.If you absolutely do not wish to live in certain areas, then be upfront and direct with your agent. Your agent does not wish to waste valuable time for you or themselves.4. Determine non-negotiable accommodations: A comfortable place for everyone in the family is always a “MUST HAVE”. For a family of four, three bedrooms may or may not be negotiable.Look at long term options.If you must settle for two bedrooms, look at the options of adding a third bedroom in the future. The budget and the location are the most important factors in determining what will be negotiable for you in terms of living accommodation.If everyone in the family has a comfortable place to stay within the home the “NICE-TO-HAVES” call comes at a later time.5. Pick a lifestyle fit: After fulfilling the most important needs, buyers should now find out what features of a home will best fit their lifestyle.For example, buyers who love to cook and entertain may want a home that already has a gourmet kitchen or has the space for them to create this gourmet kitchen.You may decide to give up a larger master bedroom in order to have this kitchen.Buyers who love to spend time outdoors may compromise a large living room for a big backyard.You will be extremely fortunate to find your “Must-Haves” and “Nice-To Haves” with your first home. Be willing to make compromises by being honest and open about your priorities.6. Have a vision: When looking for a first home, buyers should absolutely avoid getting distracted by decorations, paint colours or flooring that may not fit their taste. These are all easy fixes. If everything else about the home fits your wish list, a new coat of paint, a little redecorating and planting some of your favourite flowers around the house are easy and gives you that great satisfaction of making it your own!Now let’s get out there and allow me to find you your home!This week’s column was submitted by Joy Jones, sales representative at Coldwell Banker Bermuda Realty. She can be contacted at 247-1814 or jjones@brcl.bm.