you’ll need to decide the factors that are most important to you. If you prefer the neighborhood over the house, you may decide to 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 might want to 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. • Lower your expectations on the condition of the home. If your inspection revealed a few small 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, and 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. • Consider the market, your budget, and what you are able to afford at this time. I recall a candid conversation I had with a young couple looking for their dream home in South Florida. The area market prices for single family homes had moved out of reach for them. Instead of looking for the single family "dream" home, or " race horse ", they were looking for, I advised that they look for the "mule" that would be a good investment instead of paying rent. We turned our attention to townhomes. They bought a beautiful townhome. Six months later, I worked with them to sell the home (due to a relocation)
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