The worst thing that could happen after you get the keys to your new house is realizing you overpaid for it. Buyer’s remorse is real, and it happens even if the home you got ticked all the right boxes in your non-negotiable list. That’s because sometimes, the non-negotiables, when stripped down, are actually things you can live without. If you want to avoid regret on your purchase, rethink these ‘must-have’ home features, which slap a hefty price tag on a property:
A huge yard
The Great American dream of owning a home isn’t complete without a nice, big lawn. It’s a great place for hanging out and could be your toddlers’ paradise. But if you’re not the type to spend your free time in the garden or your kids are already too old for sandpits and tree houses, getting a property with a huge yard will just be waste of money. Not only does it jack up the price of acquiring the home — it takes a huge slice in your maintenance costs. You will have to mow the lawn every now and then, add fertilizer treatment, use air blower for the debris, call in pest control services, and the list goes on. Be honest with yourself if you will really need a huge yard. Don’t pay a lot for a space you’re not going to use. Keep the cash for other non-negotiables, like an additional room for a coming baby or a bigger kitchen.
A nearby school
A property near the school is convenient for families, but it’s also the biggest reason the price on it is so high. This is worth the splurge if you want your kids to experience walking and biking to school. But if that’s not a priority, then a home that’s a little bit farther from school may be a good compromise for some huge savings. Plus, being too close to a school may hurt your chances of selling the house fast later, in case you plan to. Your buyers pool shrinks. Empty nesters are out of the equation. Noises in the nearby campus playground don’t precisely fit in the peaceful, quiet retirement life. Single people, who are always on the go, are also out of your potential buyer options. They don’t want to be caught up with the influx of cars during drop-off and pick-up times. Weigh carefully then if you need to live near a school. If you can go without it and go for an inexpensive house, you won’t have to take a big mortgage loan. Ogden-based financial experts say you can pay it off fast and easy then.
A hip neighborhood
If you consider moving into a popular community everybody’s raving about, you can definitely expect soaring house prices. A better strategy, however, is to go for neighborhoods close to it. Why? Because these communities will also be popular sooner or later. As the property prices increase in the current hip neighborhood, business owners will flock to the surrounding area to take advantage of the relatively cheaper rents and proximity to the main hub of commercial activity. In the process, the outskirts improve as well, enticing more businesses to invest in such. In a few years, you’ll see more restaurants, malls, schools, and offices in it. So if you want to keep some cash on your purchase, don’t look into already-hip neighborhoods. Go for the up and coming. Go get a house before the community goes popular.
Are Your Must-Haves Really Must-Haves?
Go back to your home essentials list. If these items above are in it, rethink your decision. Ponder some more if you really need them. Save yourself from potential buyer’s remorse.
