Friday, March 14, 2014

Top tips for home buyers

Possible compromise on location may have to do with getting a larger home with more amenities or a much lower price point for a location that is not as central or convenient.

When going through the process of house hunting, finding your perfect dream house can be difficult and sometimes almost impossible. While you may have a checklist of must-haves for your needs and preferences for your future home, you may actually have to compromise on some of these items. Knowing which items to sacrifice can be a tough balancing act between the pros and cons.

Location

Where you choose to buy your home can affect a large part of your home life and everyday routine. Location is also something you can’t change. The proximity of your home to your everyday routine such as your workplace or your children’s school is a convenience you can’t replace. 

Possible compromise on location may have to do with getting a larger home with more amenities or a much lower price point for a location that is not as central or convenient. When considering a compromise on your home location, assess your extra transportation costs with a farther location. Also think about the resale value of properties in the area and the safety of the surrounding neighborhood. 

Type of home

The type of property you choose is also something you can’t change. From condominium units and townhouses to duplexes and single-detached houses, the type of home is directly related to the privacy and security on offer.

Condos and townhouses typically offer less privacy, as hallways or driveways are usually shared with several neighbors. The level of privacy in your home depends on your neighbors’ behavior and the structure of your home. With shared walls between the homes, loud noises are what you might have to live with. Smaller homes are also easier to maintain than larger ones such as single-detached homes. These are some things you need to consider when thinking of compromising on the type of home you want. 

Occupancy and design

The floor area and the number of rooms in the house are some aspects that affect your living environment, as these dictate how much space you have for storage and other necessities. These will also influence the quality of your living space and the sizes and proportions of your furniture pieces. For instance, bigger homes may afford larger sofas and armchairs that are more comfortable. The architecture and design of the house is also something to consider. 

However, both occupancy and design are aspects you may still change later on. A house with two existing bedrooms may be renovated to add an extra room, whereas house colors and finishes may also be changed. Considering a trade-off on these aspects of a home may well be a good compromise for the right incentives. 

Selling price

The price is one of the most significant factors of compromise in a property purchase. A better location, bigger house, more amenities and new designs are things that will increase a property’s price. When compromising on a property’s price, just keep your budget in mind. If you want to pay extra for certain factors, just avoid settling on a price more than you can afford.


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