Having Realistic Expectations When Buying a Home



It is easy when looking for a new home to want it to have all the features you might possibly need and to be absolutely perfect. However an article in realtor.com points out it’s important to be realistic as that perfect property may not always be just around the corner.

Sometimes it might be better to settle for a home that ticks most of the boxes as the reality is there is no such thing as a perfect home. It can pay to make a list of all the features and amenities you’d most like your new home to have before you even begin looking for a new house. Once you begin your search, you may find you need to prioritise some of these features and one suggestion is to score them on a scale of 1 to 10 about which are absolutely necessary and which amenities would simply be nice to have.

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Some people will look at numerous properties feeling that the ideal home will be listed at any point now. While it’s a great idea to look at multiple listings online it can be wise to set a limit on the number of properties that you actually view. Experts point out that if you find you have viewed more than eight homes without finding anything remotely suitable then you may need to reassess your priorities to find out exactly what you’re looking for. It could be that you’re looking for a property that doesn’t even exist. If this is likely, reassess the properties that you have already viewed and make a list of their strengths and weaknesses and decide where you might be willing to compromise.

However, this article does point out that you need to make sure you’re not going to be compromising on something you might regret later on, for example a property’s location. Even though you might find the perfect home, it’s no good if you need to spend hours each day commuting to work or if there aren’t any local amenities nearby.

While it might be necessary to make a few compromises, this might not always be the best choice, particularly if you’re looking in a very competitive market. At this point it is okay just to keep looking, especially if you have realistic expectations and are looking in a sellers’ market. Under these circumstances it is better to wait than to try to outbid another buyer who may be fixated on purchasing a particular property. After all, a house purchase is something most of us have to live with for several years at least so you want to get it right.

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Allison Halliday About Allison Halliday

Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.