Homebuyer Compromises

Homebuyer Compromises 

First-time homebuyers are struggling to find affordable housing. Unlike recent years when inventory was high and finding a great home was easier, now buyers are faced with either postponing homeownership or making compromises. It may feel hard to compromise, but it’s important to remember that this is your first home, not your dream home. 

If you are faced with making decisions about what to give up when buying a home, here are 3 compromises that make sense, and 6 things not to. 

 

3 Compromises 

 

Yard Size

Outdoor space is wonderful, but if the price is an issue, find a home close to a park or other common area. 

 

Turnkey Design 

Paint, fading carpet, and other cosmetic issues can be addressed over time. 

 

Extra Living Space

Consider carefully if you need the extra bedroom or great-room living space and compromise where you can. 

 

6 Things You Never Compromise 

 

Location 

Real estate is always about the location; a smaller home in a great area will hold value. 

 

Parking 

Always make sure you have access to adequate parking for your needs. 

 

School District 

Regardless of whether you have children, future buyers will care about schools. 

 

Commute 

Quality of life is very important. Don’t cut into family time with a long commute. 

 

Building Quality 

Good bones make a difference; cosmetic issues can be changed. 

 

Safety

Never compromise on safety. 

 

Buying a first home can bring compromises. Before shopping, consider where you can make compromises so that you are able to start building your financial future with homeownership.