Buying a new home in our market means you may need to sacrifice. Here’s what I mean by that.
What are you willing to sacrifice in order to buy a new home?
As our market tightens and shifts, buyers and sellers tend to get pickier. In the last few months, we’ve seen transactions where both parties came to a standstill during negotiations when they were just a few thousand dollars apart. I always tell my clients that if they’re spending upwards of $750,000 or $1 million on a property, a few thousand dollars shouldn’t stand in the way of them getting what they want.
A lot of us, though—myself included—spend money on things that don’t help our bottom line. For example, let’s say you buy a $5 Starbucks coffee for 15 days out of every month. That equates to $75 you’re spending each month on Starbucks coffee when you could be saving close to that amount by just making coffee at home.
If you were to spend an extra $10,000 on the home you want, your monthly mortgage payment would increase between $60 and $75 anyway, so think about what you’re spending money on that you could potentially eliminate so that you can give yourself a better chance at affording that home.
In other words, think about what you’re willing to sacrifice for the greater good.
If you have any more questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to speak with you. Until then, happy selling!