When you are buying a property it is essential to have a wish list of things you are looking for. This list can become an ungainly jumble of ideas and thoughts that end up confusing you and hampering the process rather than helping it.
In the world of corporate product management, the teams responsible for developing new products often use the MSCW (or MoSCoW as it’s known) method in defining the new or improved merchandise’s requirements. This is to eliminate ambiguity and ensure that everyone involved understands exactly what they are expected to end up with as a final product.
MSCW can be a very handy tool when deciding what you need in your next home – you can create a list and add as many items to each category as you like, covering location, floor-plan and features.
MoSCoW stands for Must Have, Should Have, Could Have and Won’t Have.
- The M means you won’t consider the property unless this item or feature is included
- S is a very high priority but it could be traded off on another feature
- C is a ‘nice to have’ – if you find a house that has any of these things, it’s a bonus
- W will not be included in the final result.
For example, you might feel that you can’t do without off-street parking, that you’d really prefer an ensuite bathroom but a walk in wardrobe would be an acceptable trade-off. Water views might be nice but you can live without them to keep within budget, and you couldn’t possibly negotiate a lot of stairs on a daily basis.
There is no such thing as the perfect dream home. We all want north facing properties with plenty of natural light, an abundance of storage and which are a hop, skip and a jump from shops and amenities but you can’t always tick all the boxes – even with unlimited funds. Sitting down and categorising your wish list using the MSCW method will help you to focus on what’s really important for you and your family.
A buyer’s agent can help you clarify your property wish-list and find the best property to suit those needs. For more information contact Amanda on my Side.