Home Purchasers Should Not Compromise on These Items

While we always try to help buyers find their dream homes, in the real world finding that perfect home can be elusive. Compromise is often required when a home incorporating your entire "wish list" can't be found.

However, there are 3 areas where the savvy homebuyer should not compromise. These are:

1. LOCATION

The first question I ask buyers is where they work, because a long commute is one thing that makes their lives most miserable. Also, take into account  how busy a street is. A double yellow line down the middle of the street means a significant amount of traffic. If you find that bothersome, the house is not for you. And finally, what else is on your street or in your neighborhood? Some clients of mine found a wonderful home that had all the features they wanted, but it was on a main street, next to a business. If the home's location is not good for you, you cannot easily move your home to a different one.

2. CONDITION

Homes in poorer condition cost less than those that are updated and pristine. Some homes require major updating to expensive systems, such as heating and electrical systems and even the roof. Others require mostly cosmetic updates (whoever thought that avocado green appliances were lovely?). If you decide you want a home that needs updating, you should assure you will have enough money in the bank after closing so you can make the upgrades without having to eat Ramen noodles for the next 5 years. Your mortgage professional can give you a good estimate of how much money you will need to bring to closing, and you should be able to figure out how much you will have in the bank the day after you own your home.

3. SIZE

Smaller homes are usually less expensive than larger homes. But buying a 2 bedroom home now while knowing you plan on a family soon (or Mom and Dad will be moving in with you) creates more problems than it solves. It pays to look ahead and plan for how your life will be in a few years. This is better than a plan that includes an attitude of "We'll figure it out later and it won't be that bad if we don't." Most likely you won't figure it out and it will be that bad.

An important mantra to repeat when you face disappointment in your home search is, "There will always be another home to love." It pays to be patient when searching for a new home, because the pain of buying a home that doesn't meet your needs can be very great and very expensive.

Annette
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Annette and Fred Reynolds
Century 21 Commonwealth
617 306 2906 / 617 417 6356