When you start shopping for
a home, you probably have a very specific image of what you would like that
home to look like. You probably also see
the perfect neighborhood surrounding that perfect home. Every buyer sets out with an image of the
house they want to own, but in reality compromises are often necessary in order
to stay within your budget.
Compromising On The House
There may be certain things
that are non-negotiable when it comes to your new home, such as the number of
bedrooms or a two-car garage. But as you
take a look at the homes that are within your budget, you may discover that it
is not likely you will get everything on your wish list. But the great thing about owning a home is
that you have the power to remodel it at any time. Once you are in your new home, you can
renovate or even add on if necessary to create the home you really want. And if you have managed to stay below your
budget, you will even have the extra money each month to make some of those
changes.
Compromising On The Neighborhood
So you've found the house of
your dreams, but the neighborhood isn't precisely what you were hoping
for. Too much traffic, some houses that
are becoming run down, or many other issues can mar the area your house is in. In most cases, you will have to accept that
you cannot change the neighborhood, and this means that you have to decide if
the problems are things you can live with or not.
In some cases, buying in a
run-down neighborhood can be a strategic move.
If many people are buying up the houses and improving them, then your
home might one day be worth a lot more.
However, you must realize that this is a risk and it might not work out
that way.
Another thing to bear in
mind is that if you choose to buy the nicest house in the neighborhood, you may
have trouble selling it down the line.
If other houses in the area are available for less, why would anyone buy
your expensive house to get into the area?
So Which Matters More?
In the long run, when it comes down to choosing between the right
house and the right neighborhood, you should choose the right
neighborhood. While you can change your
house for the better, you can't count on your neighborhood changing; in fact,
it might get worse. So choose the best
neighborhood you can afford even if the house there isn't perfect.
Valerie
McKean GRI, ABR
Owner/Broker
Century 21 Sterling Real Estate
Century 21 Sterling Real Estate
REALTOR®
Tel:
910-430-9494
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