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Tips to Make Property Compromises

 

Follow this expert advice from host Bryce Holdaway in his behind-the-scenes blog from Episode 2 - how to get 'over' your last home and manage your expectations.

 

When I first met Jodie and Greg they were in still in love with the home they just sold in Roxby Downs. In their minds, it was the ideal residence and when they moved, they wanted to replicate their beloved home down to the gabled roof patio and ‘man shed’.

This was a tough brief! With such a specific list of requirements it can be a challenge to match and meet a clients’ criteria.

However, Jodie and Greg were flexible enough to buy something different in the end, which ticked all the boxes for them. BUT! More often than not, most homebuyers need to make some compromises along the way.

Here’s how to manage your expectations when you’re just not finding “the one” -

• If the house is great but not perfect, try to look beyond what is missing. You can always add sheds, pools & patios if the space allows.

• Understand the types of properties in the suburbs you’re looking at. If you’re into modern architecture then heritage areas will obviously limit you. If you want lots of space and a big backyard, living close to the city will cost you more.

• If you’re willing to renovate, you can address issues like storage, light, layouts and flooring but be realistic with what you can do in within the home. You don’t want to overcapitalise in a suburb where you won’t get your money back.

• Buying your home becomes a juggling act between four things:

• Price
• Location
• Block Size
• Quality of Property

So, give yourself a reality check by writing down a list of what you absolutely will not compromise on. You may find that your list is unrealistic for your budget or the area you’re moving to.

• Lastly If you can’t have it all now – see the house as a stepping-stone to buying what you really want down the track.

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