When searching for a home, most buyers want to find one they love and can see themselves living in happily for years to come. When beginning that search, which most buyers do online through avenues such as realtor.com®, they typically know what they are looking for and the price range they can afford. Oftentimes, however, those two things come into conflict as buyers get closer to finding their dream home. Inevitably, many of them will have to ask the question, “Where will I have to compromise?” Will you have to let go of the pool to fit into your price range? Will you land in a home that’s a bit smaller to be in a better school district? Can you pay a bit more to be closer to recreational activities?
The National Association of Realtors® posed these questions to homebuyers to find out where they typically made compromises on home purchases. The results, which can be found in NAR’s 2014 Profile of Home Buyers and Sellers, showed that while 33 percent of buyers said they did not compromise at all, most let go of something they wanted. The most common compromise was on the price of the home (23 percent). Close behind was the size of the home, for which 20 percent of buyers reported compromising. Other factors at odds with what buyers included lot size, the condition of the home, a home’s distance from one’s job and friends or family, quality of the neighborhood, and school district reputation.