Will you compromise?

You have made the decision to start looking for a home! Congratulations! And you’ve mostly sorted out your budget - that’s great! Now what? The fun of searching and find a home begins, but this can also be a bit stressful while you figure out your priorities and what is really required in your next home.

So where do most first time homebuyers compromise? *

• 28% on Price of the home

• 23% on Size of Home

• 21% on Condition of home

• 20% on Style of home

• 18% on Distance from job

• 17% on lot size

• 9% on Distance from friends or family

• 8% on Quality of Neighborhood

• 7% on Quality of the schools

• 2% on Distance from schools

• 23% made no compromises

• 8% for other reason not listed

As you can see first time buyers made a lot of compromises or tradeoffs when choosing their home to purchase. The good news is even with making tradeoffs, XX% of 1st time homebuyers were happy with the home they did end up purchasing!

I recommend taking a bit of time and writing out your home wants and needs. And if there is more than you making the purchase decision, you should each make your lists separately and compare - you might surprise each other. And better to agree on your priorities prior to finding a home one of you loves however your home buying partner does not.

Want some help making your lists? You can complete or download a home buying feature sheet to help with prioritizing.

Ready to start looking at homes? Give me a call!

Photo by Glenn Carstens-Peters on Unsplash

* source: National Association of Realtors 2020 Profile of Home Buyers and Sellers