read

Trade-Offs Home Buyers Should Consider

By Morgan Saylor

Life is all about give and take - this is also true for home buying. If you find yourself with a sprawling wish list of features for your new home, don’t be surprised if you have to make some concessions. But don’t take it too hard – realtor.com has asked some experts about which compromises are worth making when it comes to finding your new home.

Location

The price tag attached to “downtown walking distance” is sometimes in a higher price range and attached to smaller homes, according to Realtor.com. Buyers are more often willing to opt for larger homes further away from downtown than infringe on actual living space.

Square Footage

If you can live without it – “it” being a guest room, play area, or anything else that could be entailed as “extra” square footage - it may be worth it for you in the long run. Dropping one of these things from your wish list could land you in a better neighborhood or keep you within budget, says Realtor.com.

However, real estate agents remind expanding families to consider future family growth before making a decision on square footage.

Garage

According to Realtor.com, homes built in the early 1920s and 1930 often do not have a garage, or sometimes feature a one-car garage. Often, buyers are more willing to compromise on the type of garage, whether it’s one car or two, detached or attached to the house.

Yard

Terrain tops out when it comes to buying a home based on its yard. According to Realtor.com, buyer’s definition of “large” when referring to a yard is pretty flexible and consumers are more concerned with having a flat, more usable space.

Architecture

The style of home is sometimes what customers are most interested in at the beginning of a home search, but when considering their budget, the home’s architectural style can be snubbed.

Source: http://www.realtor.com/advice/buy/home-buying-compromise/?iid=rdc_news_hp_carousel_theLatest

Tags: Home, Money, Home Value, home buyers, Lot Size, architecture, trade, yard, garage, square footage, location