When buying a house, most buyers start off the process with a set budget and a long list of things that they “need” to have in their house. However, most buyers quickly realize that they are not going to find what they were originally looking for in their original budget.
So, where do they compromise when buying a house? Many buyers will find 80% of what they started out looking for. Here are some common areas that buyers can compromise in without losing too much:
Many buyers start off wanting to be in a very desirable neighborhood. However, they quickly realize that to be in that neighborhood they may need to compromise on the rest of their list.
So, they are left with the option to live in the location they wanted while making concessions in the other areas, or to expand the location and check off more boxes on the list. Many times moving your search just outside of the desired area will allow you to find the house you are looking for, without being too far away.
Everyone wants a house with lots of room to live comfortably. However, square footage can often be compromised when buying a house.
Look for rooms that can be used for multiple purposes. Instead of needing a guest room and an office, find a house that has a room you can use for both purposes.
However, think about your future situation before compromising too much. If your family will be growing down the road, you might need that additional square footage.
Many people want a big backyard, however most buyers don’t need as much room as they think they do. Or, a buyer might be looking for a fenced in back yard for their pets or children. Expanding your search to yards that are not fenced in can allow you to expand your search by just adding the fence later.
Consider how you plan on using your backyard. How do you see it realistically being used? When you really stop and think about it, you may not need as much room as you initially thought you did.
It seems that two car garages are standard in most new homes. However, many older homes do not offer this convenience. Compromising on the garage can help you find the house that you looking for.
Look for alternate options, such as a one car garage, or a detached garage.
Most people have a specific house that they are looking for. However, this is an area that can easily be compromised. You may have always wanted a bungalow, but the cape cod down the street may offer you more of what you need.
When you start your buying process you will want to have two lists: your wants and your needs. It is important for you to understand which things you absolutely have to have and which things would just be nice if they were there. Knowing what and where you can compromise when buying a house can help you get settled in your new home all that much soon