Almost all home buyers have a vision of the “perfect” home. Some visions have lots of details and specific requirements. It’s important to realize that not every home will check all the boxes on your “must-have” list. You’ll likely have to compromise in some areas. The experts at Realtor.com offer the following advice on where home buyers can compromise…and where not to.
Where Home Buyers Should Consider Compromising
In the article, “5 Compromises Worth Making When Buying a Home,” Realtor.com advises home buyers to think about:
- Location. The dream of a walk-to-town location very often will get removed from home buyer’s must-have list. Homes in these locations may be too small to fit their needs. And the bigger homes may be out of their price range.
- Square footage. If you’re willing to skip that guest room, playroom, or dining room, you may be able to stay within your budget and live in a nicer neighborhood. But if you’ll need space soon for a growing family, you might want to think twice before moving into a tight squeeze.
- Yard size. Pretty quickly, many home buyers realize the size of the backyard is not as important as the home’s interior spaciousness. Unless you require lots of room for pets to run or to host a regulation-size soccer game, you may be fine with a modest back yard.
- Awesome garage. While there are homes that do not have a garage at all, home buyers will often compromise and buy a home that has a one-car garage if the home meets the other items on their must-have list.
- Specific architectural style. So, you’ve always pictured yourself in a Craftsman bungalow, until you saw the asking price. When compromises have to be made, the home’s aesthetics can often be overlooked.
Where Home Buyers Should Stick to Their Must-Have List
Conversely, there are some things you should never compromise on—or you’ll likely regret your home purchase, according to Realtor.com.
- The home’s current condition. Fixer-upper or move-in-ready? If you don’t think your bank account or your relationship could survive many months of upheaval, insist on a turnkey home.
- Floor plan. It’s difficult and expensive to reconfigure a home’s floor plan. If a home doesn’t have the minimum number of rooms or the flow of the main living areas you want, you should cross it off your list.
- The school district. Home buyers should carefully consider your neighborhood’s school district, and even get a map of its exact boundaries to make sure the home is within the correct district. Note: This may not be an important factor if you do not have kids, don’t plan to have kids, or have children who are already grown. It can factor into resale value, however.
- The neighbors. You should pay attention to the condition of neighboring homes. Not only do you have to live with your neighbors on a daily basis, they can affect your home’s future resale value, too.
- The budget. Consider all of the expenses to make sure you’ll be financially comfortable. Factor in monthly mortgage payments, homeowner association dues, utility costs and real estate taxes.
- The commute. Test-drive the route between your home and office to be certain you’re willing to make the commute every day.
- Parking. This is not the same as the “awesome garage” in the earlier discussion of where it’s okay to compromise. If you absolutely want a guaranteed spot to park, you may achieve that with an enclosed garage, a driveway, or an assigned parking spot.
What’s on your “must-have” list for your next home? Let’s chat, figure out what’s most important to you, and get started on getting you there! Call me at 303-204-6494 or send an email to firstname.lastname@example.org.