As you begin thinking about buying your next home, you have likely started your long list of “must have’s”. Unless money is not a factor in your home purchase, you will probably find that you need to loosen up on some of your desires. So how do you decide what features of your dream home are not as important? Let’s consider price, location and size/style/upgrades as the 3 main headings all of your wants will fall under. Which area are you willing to give in on? Should buyers compromise on their idea of the perfect home? Experts have chimed in on this very topic, and here is what they said…
Location – “It’s one of the first thing agents say their clients are willing to budge on. ‘While they might want to find a home that is within walking distance to the downtown area with shops, restaurants, and public transportation, buyers do not want to compromise on their living space,” says Suzy Minkin, a Realtor in Short Hills, NJ. “After all, they live in the home. Sometimes these homes are too small to fit their lifestyle needs, or the larger in-town homes are simply above their price range. So the dream of a walk-to-town location very often will get removed from a buyer’s must-have list.'” (realtor.com)
Square Footage – This compromise would depend on your family situation. Is the size of your family set? Or are you still growing? A growing family obviously needs more space or they will outgrow their home before they are even settled. However, if no more children or even have children going off to college in the near future, you might be able to give a little when it comes to the size of your next home. Keep in mind that if you have frequent out-of-town guests in your home, you might want to reserve a little bit of space for them.
Yard Size – Agents have found that the size of the yard is not quite as much of a factor as the terrain. Most buyers say they want a “large backyard”, but what they really mean is a place large enough to fit a swing set and to enjoy family/friends. So while settling for less than a football field size backyard may be a good compromise, buyers do typically want a level yard and don’t budge on that aspect.
Garage – Of course all buyers want an awesome garage, but is it a big enough deal to compromise in other areas? Usually the garage will get downsized before the interior of the home takes a hit. When looking at cost as a factor, the older homes will usually fall into a buyer’s budget easier than a brand new home. That being said, not all older homes have garages. If they do, they may be one-car instead of two-car, or they may be detached from the house.
- Architecture – Buyers tend to get their heart set on a specific type of architecture whether it be a cape cod or a bungalow style. After seeing the price tag on that “must have” style, they can usually see where a compromise is in order. You might be able to check off more items on your wish list if you remain open-minded in this area.
Unless you are planning on building your dream home, on the perfect yard, in the best location (which would be extremely costly if even possible), you are most likely going to have to leave some room for compromise as you begin house hunting. The more homes you see, the more you will realize what is most important to you and what items you could do without.
If you are ready to begin your house hunt, we are here to help you! We can assist you in making that “must have” list, while also coaching you on what items may be a little far fetched and offering alternatives. Finding dream homes for our clients is what we love to do, and we do it well! So give us a call @ 720-593-2014 and let’s get started!