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Homebuyer Compromises

With inventory low, some compromises may need to be made for buyers to take advantage of today's low rates. Unlike recent years when inventory was high and finding a great home was easier, now buyers are faced with either postponing homeownership or simply making a few compromises. It may feel hard to compromise but remember this may not be your forever home.

If you are faced with making decisions about what to give up when buying a home, here are 3 compromises that make sense, and 6 things not to do.

3 Compromises

  1. Yard Size – Outdoor space is wonderful, but if price is an issue, find a home close to a park or other common area.

  2. Turnkey Design – Paint, fading carpet and other cosmetic issues can be addressed over time.

  3. Extra Living Space – Consider carefully if you need the extra bedroom or great-room living space and compromise where you can.

6 Things You Never Compromise

  1. Location – Real estate is always aboutthe location; as maller home in a great area will hold value.

  2. Parking – Always make sure you have access to adequate parking for your needs.

  3. School District – Regardless of whether you have children, future buyers will care about schools.

  4. Commute – Quality of life is very important. Don’t cut into family time with a long commute.

  5. Building Quality – Good bones make a difference; cosmetic issues can be changed.

  6. Safety – Never compromise on safety.

Buying a home can often bring compromises. Before shopping, consider where you can make compromises so that you are able to start building your dreams and financial future with homeownership.

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