Congratulations! You’ve finally saved up enough for a down payment and are ready to buy your first home. But before you start house hunting, you must be picky and realistic about what you’re looking for.
If you’re not picky, you might end up settling for a house that doesn’t really suit your lifestyle or one that needs a lot of work. According to a recent study, 75% of homebuyers have regrets about their houses, with one-third regret buying a home that needed a lot of maintenance. By taking your time finding a house that can accommodate your lifestyle and knowing how much work you’re willing to put into a fixer-upper, you can avoid making the same mistake.
On the other hand, if you’re too picky, you might miss out on a great opportunity because you’re waiting for the perfect house. In a competitive housing market, it’s critical to be realistic about what you can afford and be prepared to move quickly when you find a house that meets your needs.
The key is to find a balance between the two. The following are three tips on how you can strike a balance between being picky but realistic when buying your home.
Don’t Ditch the Idea of Building Your Dream Home Just Yet
If you are simply too picky that you want everything in your first house to be perfect, you might have a hard time finding something that suits all of your needs. In this case, it may make more sense to build your dream home from scratch rather than trying to find an existing one that meets all of your criteria.
One of the few things you will need is to buy land for sale in a good location. Building your new home in a residential community with access to both planned and existing amenities can help reduce stress and make a living in your new home more enjoyable. Thankfully, many residential communities now offer lots as well as houses and land that can suit your requirements.
Be sure to talk to the developers and ask about their plans for the future. As much as possible, choose a location with potential growth so you can be confident that your investment will pay off in the long run.
List Your Must-haves and Nice-to-Haves
If you have already set your heart on buying a house, a list of must-haves and nice-to-haves will help you narrow your search and find the perfect home. Must-haves are non-negotiable features, while nice-to-haves are features that would be nice to have but aren’t essential. By making a list of your must-haves and nice-to-haves, you’ll be able to focus your search and find the perfect home for you.
Start by making a list of must-haves or the absolute minimum requirements that you need in a house. Some of your must-haves include a house with at least two bedrooms and a big kitchen. Once you’ve made your list of must-haves, you can start making a list of nice-to-haves.
For example, a nice-to-have might be a house with a fenced-in backyard or a short commute to work. While these features are nice, they’re not that essential, which means you can be more flexible when looking for a house. Remember that you might not find a place with everything on your list, so you’ll need to be willing to compromise.
Let’s say you’re looking for a house with three bedrooms, two bathrooms, and a two-car garage but might find a house with two bedrooms, one bathroom, and a one-car garage. In this case, you’ll need to decide if the extra bedroom and bathroom are worth sacrificing the garage space. Keep in mind that you can always make changes to a house after you move in, like adding an extra bedroom or bathroom or converting a garage into a living space. If you’re willing to put in the work, you can turn any house into your dream home.
Look Beyond the Staged Houses
These days, many homeowners would stage their houses before putting them up on the market. According to home staging statistics, 96% of buyers prefer staged houses, while 53% of realtors say staged homes sell faster. This is because staged houses look more appealing to potential buyers and can help them visualize the house as their future home.
While it’s easy to be drawn to a staged house, you should also look beyond the superficial details. This is because sellers know that potential buyers would appreciate a move-in ready home. As a result, you might be tempted to only look at staged homes since they seem easier to deal with.
Keep in mind that staged homes are not always representative of the actual condition of the house. So, pay attention to the details, ask about any repairs or renovations that have been done recently, and invest in a home inspection. These will help you get a better idea of what you’re really buying and make a better-informed decision.
All in all, being picky but realistic is vital when buying a house. You don’t want to lose out on the perfect home because you were too demanding or unrealistic about what you wanted, but at the same time, you don’t want to settle for something that doesn’t meet your needs. By following these tips, you can find the perfect balance and buy the house of your dreams.