Homebuyer Priorities

I recently came across this great post, by Bill Joyce of Surviving The American Dream, that may serve as a useful guide when buying a home.  

Homebuyer Priorities: Focus on the Things You Can’t Change

As a homebuyer, you will have many things on your list of wants and needs – big rooms, chef’s kitchen, big yard, and granite. Often, these things consume our minds when making choices for our home purchase. However, I am here to tell you to think bigger than that. When you are searching for a home, you will be making choices, trade-offs and compromises. Be sure to be mindful of the bigger picture.

One thing to be aware of is that not all features are equal, especially in terms of their permanence. Everybody wants granite these days, but you can put granite in a home. But some things are permanent…or near permanent. Things like neighborhood, schools, room count, and lot size are not so easily changeable – if at all. Features you can’t change deserve special consideration. In your search, emphasize the importance of the things you cannot change and be more flexible on features you can.

Now, this isn’t always obvious. Many of the things you see when you look at homes, and most buyers get excited about, are things you can change. Think kitchens, baths, landscaping and style. Buyers will generally get an overall sense of a house and rate it. That one was nice; I liked it better than the first three. But are you giving fair weight to the aspects that affect that home and your satisfaction for years to come? Are you really thinking about what life will be like in that home – both short and long term?

Judging how well you like each home in a visit or two may be too simple of an approach. Granite can be installed, but neighborhoods can rarely be saved. It is a bit overwhelming to track all of this, but you can be mindful in how you view homes and how you feel about a home. Allow your judgment to be swayed by the presence of important, unchangeable features and be able to discount the qualities that could be corrected. To give you a better idea of what to look at and think about – take a look at the lists below.

Cannot be changed…
• Location

• Lot size
• Room size
• Neighborhood
• Neighbors
• Schools
• Bonds
• Assessment• # of beds and baths (ok, but hard & expensive)

Can be changed…
• Style
• Windows
• Kitchen and baths
• Carpet
• Linoleum
• Landscaping
• Counters
• Sinks
• Plumbing fixtures
• Light fixtures

The goal here is to expand your thinking when shopping. Be sure to include the bigger picture when rating a home. In the end, you will make compromises. Don’t feel bad, even the million dollar luxury buyers have to make compromises… just different compromises. But as you make your choices, bear in mind that some things can be changed later, while others can’t. Don’t let this discourage you, instead arm yourself with the necessary information, and find a home you feel great about and will be happy with for many years to come.

REF: Bill Joyce http://www.survivingtheamericandream.org/homebuyer-priorities-focus-on-the-things-you-cant-change/


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