You’ll hear this time and time again: purchasing a home is an incredible financial commitment. Those of us who do not have our dream homes at least have them imagined in intricate detail. You know exactly what you want and will never compromise because you simply cannot be happy otherwise. The sad reality is that the perfect house doesn’t exist because of the sheer number of variables involved. You’ll eventually find something wrong with your home that might get under your nerves, but you compromise with it, because maybe the effort to fix it outweighs the annoyance. While compromises are a fact of life, there are still some home buying compromises you should avoid if possible.
- To commute or not to commute? Imagine this: You think you found the perfect home. It has everything you have dreamed about since you were little, and your partner—if you have one—loves it too; however, there is one small problem. The house is an hour’s drive from work. To some, this issue may not be a big deal. For whatever reason, you might enjoy the long drive. Living in a quiet country house and working in a bustling city might sound nice. If you’re not one of these people, then don’t try to compromise. You’ll end up miserable every day before work, and depending on what city where you’re employed, you might find a commute that should be 30 minutes turns into a two hours because of traffic.
- Structural quality of home. For these home buying compromises, you must understand that fixer-uppers are no small or cheap task. If you think the home you want will be perfect with some renovations no matter how extensive, take a good long look at your budget and your willingness to delve into all the efforts involved in fixing up a house.
- Comfortable cost vs. becoming “home poor.” How do you feel about never having any money to do anything? You probably don’t feel good about it. When it comes to home buying compromises, one thing you should never do is compromise on price if it exceeds your budget. You make a budget to ensure you have money left over to spend on emergencies, furniture, insurance, utilities, and nice things that may not be “needs” so much as “wants.” If you’re struggling making payments on your home while keeping up with other financial needs, you’ve become home poor, and it can be a stressful life. You may have to give up on that gorgeous home your heart exclaimed, “Must have!” the moment you set eyes on it to avoid needless financial burden.
- Size can mean everything. Some of us may like small spaces, but some of us may prefer large spaces. And others may require a certain size space because of live-in family members, roommates, hobbies, work, etc. Don’t let size be one of your home buying compromises. Think about your budget (a bigger house can mean higher price), the expected number of people to live in the house, and your lifestyle (like hobbies, work, décor preferences). If your house is too small, you may find it suffocating. If it’s too big, you may get lost in it—or lost in massive loan or utility payments.
- Room for the car(s). We live in a world where most of us need a car to get, well, anywhere. You might opt to live in a city with excellent public transportation where having a vehicle is just an unnecessary burden, but if you’re looking for a house, you probably need a car, and you’ll need somewhere to put that car. If you have multiple cars due to work, lifestyle, or roommates, you’ll need to ensure those cars have a space, too. Is the driveway too small? Is the street too narrow to safely (and legally) park a car? If the answers are yes, this is one of the home buying compromises you should avoid.
Once you know the things you aren’t willing to compromise on, your home shopping experience should prove smoother. Don’t want a long commute but the home will require one? Cross it out! The home requires extensive repairs and renovations when you have neither the time, money, or desire to do either? Nope! Ultimately, you want a house that will make you happy. That means, if you must do so, compromise on things you won’t regret losing.
Continue following the Ryan Roberts Realtor blog for more homebuying advice! For your real estate needs in the Auburn, Opelika, and Lake Martin area, contact Ryan Roberts at 334-750-9872, or at [email protected]!
