January 05, 2021
Categories: Tools
When you dream of a new home you likely have a pretty defined idea of what “perfect” will mean to you. And when you start the home buying process, it’s easy to have this list of “must-haves” from which you won’t want to deviate. While it’s important to make sure that you get what you want in your new home, it can also be valuable to decide what items you would really like but that are ultimately negotiable. If your list isn’t set in stone, you’re less likely to become frustrated as you shop around. The reality is with today’s low inventory real estate market it can be nearly impossible to find the perfect house that has everything you want, located where you want and for the price that you want. It is important to stay within your budget so that you can continue to live comfortably once you are in your new home.
The experts at Realtor.com have come up with some compelling categories in which to think about potentially compromising. Knowing that you don’t have to give up everything you’re looking for, but being flexible on some “must haves,” will open up more possibilities for finding a home that has everything else you’re looking for. NJ Realtor® Dana Gonzalez suggests the following tip for achieving balance: “Imagine a triangle with price, location, and size/style/upgrades at each point. In most cases, you will have to be ready to give up on one of those three. Expect to compromise. If you get 80% of what you want, you're lucky.”
Here are five concessions to consider during your search:
- A defined style of architecture
The South Carolina Lowcountry is historical known for its distinct and charming architecture from Charleston single-style homes to antebellum mansions, to traditional homes flanked with graciously sweeping front porches. The new construction scene has a great variety of choices and keep in mind you might be able find a home complimented by design elements reflecting a particular style you like without being constructed entirely in that style.
- Home size
Chances are, it would likely be easy to live happily in slightly less square footage than you initially had in mind. Especially if buying less square footage allows you to stay within your price budget in a preferred area. Consider cutting some space that you might easily live without, such as a guest room, playroom, or formal dining room. Many new construction homes have great flex-space options so consider options like a loft that could double up as a space for guests and play area in lieu of an additional bedroom. Think ahead for any changes in family size that might be in the foreseeable future, it is important to plan space-wise for future needs as well as your current situation.
- Yard Size
It is not uncommon for many new construction communities to have standard yard sizes within the neighborhood, though there are some exceptions with larger lots. Those exceptions frequently tend to come with a lot premium that will ultimately increase the over-all price you are paying for your home. A thought to consider is selecting a smaller yard and taking advantage of your neighborhood’s green space. Many developers throughout the Charleston area include ample green space, pocket parks, playgrounds, and trail systems amongst their amenities so keep in mind to check these amenities out as you shop.
- Garage-Space
Not all new homes come standard with a two-car garage providing direct entry into the home. In the Charleston area you will find an array of garage options from single-car detached garages with alley entrance to three- and four- car garages that can be built to order in a select neighborhoods. Think about your garage needs before you begin looking and have a plan as to what extra space needs you might have for storage, etc. if the home you fall in love with has less garage space than what you had hoped for. It could be a great opportunity to reduce clutter as you move to!
- Location, location, location.
This timeless adage still holds true, and location directly impact a home’s value. Location can be a financially lucrative compromise to consider in the Charleston area. The closer one is to the peninsula and beaches, the higher the prices are. If you are willing to consider adding a few more miles on your commute, you are likely to find a lot more house for your money in the outlying areas. And while you might not end up in the exact location where you had first imagined yourself living, you are likely to find some thriving communities and excellent school districts that are just a short trip into the heart of town.
The good news is that willingness to make some changes in your choices can result in a great outcome, on budget. Try to keep an open mind and you might find a new home you didn’t even know you were dreaming of!
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Categories: Tools