Compromising on the Home Purchase – Everyone Does It

Second in an occasional series looking to gain/give insight into the minds of homebuyers and sellers …

You’re going to have to give up something when you’re buying a new home. Whether that is square footage, yard size, number of bedrooms, kitchen appliances, layout, ceiling height, style, price … determining what that fatal flaw is that you’re not willing to compromise is crucial to working through the home search process. Even if you build your own home from dirt up, you’re going to forget something, wish you’d done something differently. One of the keys to the “finding a new home” process is determining what the “must-haves” are, what the “I’d like to haves” are, and figuring out which ones really are the things that you absolutely, non-negotiably must have.

Distance matters, but not nearly as much as schools.

Schools Still Matter.

Fact: Housing prices are impacted by school quality. Buyers know this.

From the report (bolding mine):

More than a third of respondents said that they did not make any compromises when purchasing their home. However, 19 percent of buyers reported that they compromised on the price of the home, and 19 percent said they compromised on the size of their home. First-time buyers and unmarried couples are the most likely to make comprises when purchasing a home. Those with children under the age of 18 are more likely than those without children to make comprises when buying a home.

No kidding. Those of us with kids make compromises? 🙂