2. MAKE A LIST
List the top 5-10 most important criteria in a home you wish to purchase. Then do your best to put them in the order of priority. If you are buying a house with someone else, compare and if possible meld your lists together. Seldom will buyers find everything they want in a house. I feel it is important not to compromise on the most important criteria.
|WHY? It is not unusual for one of my buyers to "fall in love" with a house that does not meet their important criteria. I remind them of their criteria and they keep looking. An example of this is when a buyer puts in their top criteria to not be on a busy street or not to have loud airplane noise. Houses in these situations sell for less than those with more favorable criteria so one can buy more house for their money. It is easy to "fall in love" with a nicer house than what the price range would indicate. When I ask my buyers if they would really be happy with the busy street or with the airplane noise, they start thinking more clearly about what they want.|
SOME SAMPLE CRITERIA
When you start looking, you'll find that there will be tradeoffs for example between quality of construction and improvements and price. You may want to read my ideas of balancing home ownership and investment.
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