Many homebuyers begin house hunting with a list of must-haves. This is particularly true for first-time buyers who have heard that theirs is a buyers market. I've notice that my younger buyers really expect a lot, then they're disappointed with what they find because they had read that the market's terrible. In many markets, the best homes for sale are now getting multiple offers and selling quickly. But even in a market where a buyer can definitely get more for his money, why should he pay for things he doesn't need? Just because you can afford to buy a 10-bedroom, 12-bathroom home with separate butler's quarters doesn't mean it's a good idea. Wouldn't you rather spend that extra money on something else? It's good to know what your deal-breakers are when you're looking for a home, but you should also be realistic about which things you don't need. Consider these 12 possible sacrifices, and then decide which you can give up to find a less expensive house that won't make you regret your purchase. In today's blog I will examine sacrifices 1-3
1. Square footage
Most buyers want more space than they need, so ask yourself whether giving up a formal dining room or few feet in the living area is going to significantly affect your lifestyle. Buyers who dream of a 6,000-square-foot palace need to remember that every square foot comes with a price, one of the primary factors to base a list price on is square feet, so only purchasing those square feet that a buyer will use will help their bottom line. Plus, they will save on not having to heat, maintain and furnish that extra space.
2. Yard size
Many buyers, particularly men, want a big lot and a large yard, but in suburban areas getting that land costs disproportionately more. Plus the work required to maintain a yard — mowing, fertilizing, trimming and planting — and how much time and money it will take should be a major factor in ones decision. Some buyers may want that large yard so their children have a place to play, but kids don't really play in the backyard as much as they once did. No a days they all go to soccer and all these other places to play. As long as the backyard is level, so you can see where your kids are when they do play in the yard, then it doesn't have to be a huge space.
3. Fenced yard
A fenced yard is often on a buyer's want list, but a fence is an easy and often inexpensive post-purchase addition. Many buyers don't want to even consider homes without fences, I suggest to look at a few homes in their price range that don't have fences but do have more interior upgrades, you'll come around to the idea of adding a fence later.
Next blog sacrifices 4-6
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