3 Things You Should Not Compromise When Buying a House

Written by Jason Nelson on June 15, 2017

buying a house

The home buying process is full of compromises, but there are some things that you should always hold steady on when it comes to buying a house. It can be difficult to choose not to purchase a home and stick to your guns, but passing up a home is always better than getting locked into something that won’t meet your needs down the road.

Buying a house is an emotional process and it’s easy to get attached. It can be helpful to make a list of things that you absolutely will not compromise on as well as some things that are more flexible. Having these things written down can make it easier to make the tough decision to move on from a home that just isn’t right. When something is physically written down it becomes less abstract and harder to overlook and it’s easier for someone else to hold you to your word.

Here are three things you shouldn’t compromise on when you’re buying a house;

1. Stick to your budget.

This is the most important component that you should never compromise on. Your first step when deciding to purchase a home likely involved some serious budgeting. You took the time to evaluate your financial situation and create a budget for how much home you can afford to purchase. It’s easy to fall in love with a home that’s outside your budget, and it can be tempting to stretch yourself to make it work, but this is a decision that you’ll likely regret down the road when you’re struggling to make ends meet. There’s no sense buying too much home if you won’t be able to pay your mortgage the first time something unexpected comes up.

2. Don’t downsize if you don’t have to.

Size is an area where there’s a little wiggle room, but not much. You need the amount of space that you need, and that’s just the way it is. Kids can share bedrooms, and not everyone needs a separate dining room, but that may not work if you have 4 kids and a set of grandparents living in your home. A smaller home may be less expensive, but if your family will be cramped and uncomfortable it’s not worth saving a few dollars a month. Especially if you know you’re just going to outgrow the home in a few years. It’s better to buy the home that will meet your needs long term, or wait until you can afford that home, than to rush into something that won’t work in the future.

3. Location is everything.

Not everyone has a specific location in mind when they’re buying a house, but most people have an idea of where they don’t want to live. If you don’t like the neighborhood now, it likely won’t magically grow on you later. If you absolutely love the home, it can be worth compromising on a so-so neighborhood, but a great house in a neighborhood that you hate will eventually cause you to dislike the home. Maybe it’s too far from work or the neighborhood won’t be conducive to raising kids, but if it’s not right it’s important for you to recognize that and move on.

Ultimately, it’s important for you to trust your gut. It can be difficult, but try to keep emotional distance so that you can stay level headed and know when to compromise and when to stick to your guns. You want to make these important decisions in a way that will keep you from having regrets later, and having clearly defined areas where you will not compromise can help you to do this.

Posted Under: Mortgages

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