The Perfect Home vs. Nice Home in a Good Neighborhood
The perfect home – the holy grail of house hunters today. Is it really possible to find a perfect home? Have home buyer expectations gone overboard? First, let’s start with the word Perfect. According to Merriam Webster’s defines perfect as:being entirely without fault or defect : flawless.
When was it that you have come across a flawless home? How about a BEST home? The best home based on your criteria available at the time you are ready to purchase. WHY you ask? Because the difference between a perfect and best home — with a perfect home you may never get under contract.
Perfect is never grounded in reality and more often than not it does not exist in your price range. Every Sunday Realtors meet potential buyers at Open Houses only to discover that these buyers are in a lower price range. I have yet to have a buyer be able to discover a house that has all they wanted of and none of the things you don’t want. Perfect is an absolute and limits you; while best gives you flexibility.
I recently came across an article on the web entitled The Perfect Home is a Financial Nightmare – Don’t Get Caught Up In the Costly Race and the author brings up some really good points. Points that wise home buyers should take to heart.
There’s no end to this effort, no finish line to the race.
It starts very early on. You decide to buy a house, maybe even decide on a budget but all the plans and all the decisions soon fade away when you start shopping for a one. It’s understandable. Some locations, architecture and design, extra rooms and more may be well worth the extra money but have you ever heard of anyone buying a cheaper house than they initially planned on?
It continues with massive, endless renovations trying to shape reality to dreams with multi-million homes as our inspiration. Even the world’s best interior designer can’t create that much space in a two bed room apartment.
Naturally, our quest goes on even after we’ve moved in. Furniture, appliances, designs and adjustments all continue to trouble us. I’ve heard the sentence “we’ve got to replace that couch” from everyone of my friends (and they bought the couch just a couple of years ago).
Our house is a major factor in our lives. It’s our home, it’s where we spend most of our lives (after work), it’s where our children grow up and it also reflects on us as people. Aiming for the perfect home is very understandable but is it wise? Is it financially sound? Is it at all possible?
The author’s points that it is endless, expensive, time consuming and fashions change is very true. The minute you think that you found the perfect home you will discover a home that has stuff you want in yours. Once you purchase a Buffalo home the trips to the building supply stores and garden centers begins. Once you complete a project you will find something else that you will need to modify.
How to select the Best Home for YOU
Now that we have eliminated the perfection and you are ready to start your search you will need to arm yourself with a couple of important lists. These lists are very specific and they will assist in narrowing the selection criteria of the BEST Western New York Home for you at this time:
- List of absolutes – things like bedrooms, baths, colonial vs ranch, square footage, garage, basement, hardwood floors
- List of nice but not necessary – thinks like master bath with jacuzzi, first floor laundry, central vacuum, stainless appliances
- List of absolutely must not have – things like pool, fireplace, recreational room, oil heat, septic system, shag carpeting
- List of items you are flexible on – septic or sewer, 1/2 bath, 3rd car garage, air conditioning, appliances included
- List of neighborhoods – limit yourself to one, two at the most
The items in the list will vary with each person that makes these lists. The list above is an example for you to model your list. With many buyers stretching their buying power it is understandable that they want the home in the best condition possible because there may not be a lot of cash on hand after the purchase. If you have a clear image of what you are looking for you will be less likely to suffer from buyers remorse.
Are you waiting for the Perfect Time to Purchase?
With interest rates at historical low levels, and the extension of the tax credit you cannot find a better time to purchase a home. Interest rates as low as 4.75% were quoted on Friday. Right now that gives you incredible buying power. How are you going to feel if you haven’t purchased and the rates rise to 6, 7 or 8% next year. Those interest rates have been held artificially low by the government, and that is projected to change at the beginning of next year.
Read Also: Excellent reasons to not purchase a Home
It also helps that once you are working with a Realtor to find something else to do with your spare time other than searching for the Perfect home, at the perfect time. That is why you just hired a professional to assist you. To remove the barriers to finding the Best home for you!
For more information call Colleen Kulikowski
Thinking of selling your Western New York home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.
What about one of these homes?
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