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
10. Single-family home
The old-school American dream involved a white picket fence and a home to call your own, but not every buyer needs that. Many buyers won't consider looking at homes called twins, or duplexes, which are attached in the middle but are two separate homes. The same goes for townhouses. With a townhouse, you can often get everything you want at your price range. Buyers can be reluctant because they have lived in apartments where you can hear your neighbors, but those apartment complexes have paper-thin walls. Thinking outside the single-family home can often mean a more updated home — even more space — for less. So don't automatically skip over townhouses, duplexes and condos.
11. A fixer-upper or project home
Lots of buyers just want to find a deal, they insist that they are willing to take on a project to get a deal. But when it comes to writing an offer, they don't want a deal. They want a home that requires absolutely nothing. Sure, a fixer-upper can be a bargain if you know what you're getting into. But generously estimate what it will cost to get that home ready to live in — and don't forget to include the cost of your time. Buyers should not to get too excited about foreclosures and short sales. Those homes are sold "as is," and the owners or others may have stripped the home of a lot of valuable things: appliances, plumbing and even kitchen cabinets.
12. Building amenities
Buyers think they need a lot of amenities in their high-rise condo building, but it's not always worth it to pay extra for those things. For example a luxury high rise may add money to the purchase price because of their high profile gym, but down the street might be a gm as well where membership is only $40/month.. Ammenities aren't always worth it
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