Compromise on Purchase Criteria and Plan Your Home Upgrades According to Budget
When searching for a home, we understand that you may have a purchasing criteria list. Everyone wants to live in an ideal home for their family situation and needs, but it is important to be honest about what you can afford at this time. If you have a long list of
acquisition criteria, real estate options may not accommodate you entirely. Once you accept that you may not find your dream purchase, you can expand your search to include homes with potential. In due time, you will be able to fund the upgrades you initially included in your purchasing criteria list. If the home is livable and funds are tight, it’s okay to go in a different direction and make changes to your property later down the line. There are ways to ensure that you choose a safe neighborhood, even on a budget.
Examples of acquisition criteria
Real estate buyers often have long lists of features they desire in a home. If you don’t know where to start with this list, you should give it some thought before searching for a property. Just be mindful of your budget.
Some popular buying criteria examples include:
- Square footage
- Minimum number of bedrooms and bathrooms
- School district
- In-unit laundry
- Kitchen (i.e. countertops, cabinets, sink, etc.)
- Walk-in closets
- Ceiling height
- Gas versus electric
- Central heating & air conditioning
Some of these criteria can be upgraded while others cannot. Consider which immovable features are important to you, then go from there. If you can bear to part with any of the criteria on your list, this compromise is likely to yield greater satisfaction when searching for a home. And remember, you can always make changes to your home later on!
Planning home updates is key when sticking to a budget
Once you’ve found a home that satisfies a smaller purchasing criteria list, you can begin to plan whatever upgrades and updates you’d like. Don’t make the mistake of trying to do everything immediately after closing! Timing and budget are essential factors in potential home changes or renovations.
Don’t allow temptation to take hold after closing
Allow yourself to get settled in your new home before tearing out the bathroom or replacing all the light fixtures. Better yet, budget and save for those projects before beginning the processes. When funds are tight, it is best to be smart with your money. Be honest with yourself about when these updates are feasible, and plan according to budget.
Weigh what’s important to you in a home
When you’re finally able to make those dream changes, budgeting is still vital. Think about which upgrades you can afford at present and prioritize the necessities before your wants. As you continue to save and budget according to your new home’s demands, enjoy the rewards of your fiscal responsibility.
Speak with a real estate agent today
We highly recommend an in-depth discussion with one of our professional real estate agents at Pan Florida Realty before making any big decisions regarding a new home. Our professionals can give key insight about the market, installations and upgrades, and other important buying criteria examples which you may not have considered. Let us help you make the right buyer decisions so you can enjoy a beautiful home without financial stress.