Keep In Mind:
You will likely need to compromise on some of your priorities. No home is perfect, and a first home is often a “starter” on the way to a dream home. However well it fits your needs, desires, and lifestyle, there will be things you wish to change. Examples might include wishing the home was facing the lovely park you saw nearby or in another fancier neighborhood. You’ll need to decide the factors that are most important to you. If you prefer the neighborhood over the house, you may look for a different type of property within the same community—a condo, for instance, instead of a townhouse. If finances are the issue, you should discuss with your bank whether they would be willing to increase your mortgage. But use caution, and only do this if you can afford it — there’s no point in getting into financial trouble just to get a specific property when more affordable ones could do just as well. Please lower your expectations regarding the condition of the home. If your inspection revealed a few minor problems, you could still buy the property and do the repairs yourself. Use the problems as a bargaining chip to get a reduced price from the seller after getting a quote from a professional for the cost of repairs. Don’t estimate based on your judgment; don’t let the seller decide how much he thinks it will cost. Ask a professional yourself. Also, don’t let the seller get the quote. Please be ready to walk away. This echoes our earlier point about not getting emotionally attached until you have bought and moved in. If you discover the compromise required is more than one you’re prepared to make, walk away.
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