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    The Trade-Offs You Should & Shouldn’t Make When Searching for Your Next Home

    If you're house hunting, this blog post is for you!   We’ve all been there - the excitement of finding a house that we think...

    • Ken Schwartz
    • July 12th, 2021
    • 4 min read

    If you're house hunting, this blog post is for you! 

    We’ve all been there - the excitement of finding a house that we think might be perfect, only to find out that it needs an expensive new roof or features a less-than-ideal layout. With so many decisions to make during the home buying process, it's easy to get overwhelmed and just settle on the first decent house you see. But don't worry! We're here with some hard-earned advice from our experts who can help you decide what trade-offs are worth making when searching for your next home.

    Budget

    When it comes to getting all of the features you want in your dream house, you may have to spend more than you anticipated. This is one of the more common compromises people face when shopping for a home. It can be tempting to spend outside of your comfort zone to get all the amenities you want. 

    You have a specific location in mind. You also have a minimum square footage requirement and a number of bedrooms and bathrooms in mind. But these three factors don’t always align with the budget that you have. The important thing is that you don’t take on a mortgage loan that is too big. It is okay to stretch your budget a bit if you have the resources to do so. If you don’t leave yourself some breathing room when it comes to your budget, you are setting yourself up for a possibly rocky future. At best, you’ll be “house poor” with a lowered quality of life.

    Location

    There are many factors to consider when choosing the location of your new home. These factors can be a school district, proximity to work, nearby amenities such as grocery stores, restaurants, and gyms. These factors can improve your quality of life and support your property value. 

    Locations with these factors typically become more desirable and expensive. So you may find you need to compromise with the location of your home. It ultimately comes down to your priorities. If you are most concerned about location but less with the size of your home, you may be able to compromise on square footage.

    Fixer Upper vs Turn-Key

    Be careful when and where to play the DIY card during your home selection process. By no means does your next home need to be complete “turn-key” from the start, but consider how much and for how long each project will take you. There are differences between a small-based project such as cosmetic lighting and total renovations such as new kitchen cabinets and counters. Minor changes are the way to go when deciding between the two. 

    If you are in a position where getting your hands dirty and taking your time to make major changes is in your best interest, and ultimately your budget, then taking the sale price discount may be the better choice upfront. 

    Something to consider, the four most expensive home projects are typically the installation of an in-ground pool, total kitchen remodels, bathroom renovations (especially the main bathroom), and the replacement of your roof. 

    Floorplan and Size

    If your buying budget and desired location are more important to you, you may have to compromise on the square footage or the number of beds and baths when selecting. 

    That being said, you also have to consider the lifespan of your time in this home. Are you planning on expanding your family, or is this a home you will only spend a few years in? If this home is something you will only live in a few years, you may have more wiggle room as far as size is concerned. On the contrary, if you have long-term plans to stay in your next home, you may need to consider purchasing a home you can comfortably grow into. 

    More than anything, extra space is not easily changeable without a substantial amount of money on expansion efforts. If you know you need at least 4 bedrooms to accommodate your living situation, don’t settle for a smaller floor plan. This is the kind of compromise that could cause a great deal of stress later down the road. 

    The perfect home is out there waiting for you!

     Let us help you find it. We will take the time to understand your needs and lifestyle to match you with the right property. Our team of experts is ready and waiting to partner with you.

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    About the author

    Ken Schwartz

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    Since 2008, I have been helping clients reach their goals, and doing so in the most professional fashion possible. I graduated with a Bachelor’s Degree in Mechanical Engineering from the University of California at San Diego in 2008. After working in the field for a short time, I found my true calling in Real Estate. My ability to talk with people and problem solve made real estate a perfect fit for me. I obtained my Real Estate License in 2008 and have worked in the industry ever since. My previous experience includes Property Management and helping clients Buy or Sell their home. In 2012 I received my Real Estate Brokers license and have recently joined the team at CENTURY 21 Affiliated. When I'm not out selling homes, I love spending time with my wife and 4 french bulldogs. I also play in an adult baseball league, which helps fulfill my competitive nature. Having played baseball in high school, it is a great extension to my glory days. Thankfully San Diego has such great weather, we can play year round. My expertise in the San Diego market and the outstanding resources of CENTURY 21 Affiliated give my clients the satisfaction that I can provide them the best quality service out there. A Real Estate transaction can be a stressful time, but it doesn't have to be. We do everything we can to make it as smooth as possible, while delivering our clients the best value and helping to build their personal wealth.

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    Ken Schwartz Real Estate

    Ken Schwartz | CA DRE #01854235 | NMLS 2461429

    2020 Camino Del Rio N. Suite 800, San Diego CA 92108

    2020 Camino Del Rio N. Suite 800, San Diego CA 92108

    Call Us:

    858-500-2195

    Message Us:

    [email protected]

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