• You may/will need to compromise on some of your priorities. No home is completely 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 you could change. E.g., if only it were facing that lovely park you saw on the way there, or if only the house you prefer were in that other neighborhood, or if only this cost a little bit less. At the end of the day, 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 if they would be willing to increase your mortgage, only 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. Also, don’t let the seller get the quote. • Be prepared to walk away. This goes to our earlier point about not getting emotionally attached until you have bought and moved in. If, at the end of the day, you find out the compromise required is more than one you’re prepared to make, just walk away. 46
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