Back HomeIn today’s market, here’s what to compromise on when buying a home
The process of buying a house in Texas is fairly straightforward and easy to navigate, even for first-time home buyers. That said, market changes and movements might call for adjustments, not just on the process itself, but on your own real estate goals, lifestyles, and preferences.
As you get closer and closer to the home you love, be open to make compromises on the following:
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Cosmetic features
It’s natural to have a mental picture of what your dream home looks like. But the reality is that most properties in the market probably don’t match it. Which is why you shouldn’t let cosmetic features hinder you from falling in love with a house that meets your non-negotiables– and budget– to a T.
After all, cosmetic features can be changed. Once you’ve purchased the house and allocated a separate budget for renovation, you can shape the property into the home you’ve always envisioned.
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Home size
As you visit open houses and explore property listings, you might find your needs shifting a little. You might realize that you need more square footage to accommodate you and your family, or that a smaller footprint might be the suitable choice for your long-term homeownership goals.
Don’t hesitate to add or shave off a few square feet, provided it’s still within your budget and fits your lifestyle preferences. Should your needs change again in the near future, you can choose to add to your home and increase its resale value in the process.
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Age of the home
Maybe you’ve set your sights on a new construction home. Or perhaps you’ve always imagined yourself living in a Craftsman Bungalow from the 1940s. The fact of the matter is, when you find the house you want, age will be nothing but a number– and not a significant one.
So what if the house you fall in love with isn’t completely brand-new? If it’s only a few years older and is in great condition, don’t hesitate to compromise. If you’ve set your sights on owning a historic property, consider a different decade or era, especially since maintenance needs can vary.
FACTORS NEVER TO COMPROMISE ON
The size of the home, its age, and its cosmetic features are not unimportant factors to consider. But they are more in the realm of preferences, which might make it easy for you to compromise. The following, however, are completely non-negotiable:
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Your budget
It’s important to be firm when it comes to your budget. Overspending on a house can affect your financial health in the long run. Limit your home search to properties that you can afford, not just to purchase, but also to run and maintain in the next few years.
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Home inspections
A home seller and their agent might try their hardest to vouch for the property they are selling. But if you want to be completely sure the house is structurally sound, safe to live in, and worth its asking price, call for the advice of a professional home inspector. In the event they find issues that merit an expert opinion (i.e. mold, asbestos, lead, leaks, etc.), make the investment and call a specialist. Never ever skip a home inspection.
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The location
While the size of the home or the floor plan can be changed in the future, it’s impossible to change the location of the house you’re buying– unless it’s a mobile home. Moreover, where you choose to live has a significant impact on your quality of life. It will affect your commute times to work, your access to public amenities and services, as well as the quality of education children in your household will receive.
In the long term, a house’s location can also affect your financial health and assets. Changes in the neighborhood can lower or increase the market value of your property, as well as the equity you build over time.
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The house’s condition
Unless you made the conscious decision to buy a fixer-upper from the get go to flip it or tear it down for a new house, do not ever compromise on the property’s condition for the prospect of buying a home for less. These properties require work to be done as soon as possible. You might find yourself in an expensive and messy situation that can also be hard to escape.
A few minor repairs and upgrades are to be expected when buying a home. But if the issues of the property in question are too much to bear despite its alluring price tag, walk away.
NEED HELP WITH BUYING A HOUSE IN TEXAS?
With Berkshire Hathaway HomeServices Caliber Realty, you don’t need to be thinking of making compromises. Use the team’s combined experience and knowledge of College Station, TX real estate to find homes that meet your criteria. When you’re ready, call 979.694.8844 or send them a message to get started.
