#RealEstate #housing #BuyingHouses #SellingHouses #BuildingHouses
To paraphrase a Redfin TV ad: The prospective buyer says the kitchen is a little tight, but they can live with it.
The agent replies: You shouldn’t live with it. You should love it.
Buying real estate, especially a home you plan to live in, can be a frustrating experience.
No home, even one you build from scratch, is perfect.
Existing homes can be even more imperfect. Rarely does a buyer find an existing home that has EVERYTHING he or she wants.
It seems there is always something one has to “live with.”
Usually, there are some things in the home that aren’t perfect, but you can fix them eventually. Therefore, as a buyer, you should price that into your offer.
In the relatively tight real estate market we are in, you may have to pay full price, or bid up, a house that may have things in it you don’t like.
Many of today’s buyers are looking for perfection, and won’t stop until they find it. That’s a nice problem if you are in no hurry to move in.
But, as there are no perfect humans, there are no perfect houses – or, at least, they are very rare. That’s because perfection is only in the eyes of the buyer.
Because of the number of variables in the real estate buying process, the willingness to compromise may be a good trait for buyers.
And, it’s OK to have a bottom line of what you can accept, and what you can pay.
Perfection may lie outside one’s budget.
That’s why an abundance of choice is desirable. It’s good to look at as many homes as possible within the given radius of where you need to live.
In addition to price, another variable may be demand. You may like the first house you see. But if you wait to pull the trigger, so you can look at other houses, your top choice may be gone once you’ve decided.
If you are buying your first house, and are looking for “starter” homes, you may find them few and far between. If you do find a starter, it may be older. Older homes require more work, so don’t be afraid to put the work in over time. In the current market, if you do the “right” things to your house, you’ll get your money back, and, usually, more.
If you elect to build from scratch, find a reputable builder who won’t skip town once your house is done. The cost of building materials have risen to the degree that some builders, who also find it difficult to get the help they need, won’t quote you a firm price or a completion date.
And, watch your new house go up, if you are able. Make sure your builder doesn’t cut corners.
Again, buying real estate is an imperfect science. Buyers and sellers usually have to be flexible. If they are, the process will be less stressful.
In short, you don’t have to love everything about the house you buy. If it meets your needs, and is in a good location for you, you may not want to hesitate to make an offer.
If you hesitate, it could be gone. And, if you are lucky and get a good house, perhaps you can fix the things you don’t love.
Peter