Bad Compromises

Sometime buyers can have champagne tastes on beer budgets. It can be difficult for a realtor to convince their clients to become more realistic with their wish lists when they are looking at potential houses. While it’s true you should be realistic, there are some things that really shouldn’t be compromised.

·        Stick to your budget! While devising a budget you’ll be comfortable with, the house payment is not the only thing to be responsible for when you own a home. Remember there’s other expenses such as homeowner’s insurance, property taxes, HOA fees (in certain neighborhoods or condos), upkeep and maintenance, utility bills and the list goes on!

·        Be realistic about buying a fixer-upper. Are you a handy person and enjoy the renovation process, or do you have the extra money to hire a professional to do the job? Are you willing do live through the stress of a renovation? Can your relationship handle it? These are serious things to consider before you fall in love with that charming Victorian on the corner that’s over 100 years old and needs work.

·        Don’t compromise on the layout of a home. If you need 3 bedrooms and 2 full bathrooms, don’t buy a house with 2 bedrooms and 1 bathroom. You will regret it. Make sure you like the flow of the home as well. You may be able to open a floor plan by taking down a wall or two but adding bedrooms or bathrooms will be expensive and in some cases, may not even be possible.

·        Test out the commute time to work. You should decide on the commute time you will realistically be comfortable with on a day to day basis. Don’t fall in love with that house that’s an hour away from your job unless you’re willing to take 2 hours out of your day just to commute.

·        Make note of the neighbors near your potential new home. Does their house look like a junk yard? Do they maintain their home and yard? Remember you will be looking at and living next to that. It will not only make you mad every day but may affect the value of your home when you decide to sell in the future.

Almost always there will be compromises that must be made when you are house hunting. You just need to be smart about the ones you decide to make.