By Living Room Realty, March 15, 2019
When meeting with a new buyer, after talking through all their criteria of wants and needs, they always ask: is this possible in our price range? My answer is most always YES. BUT, my question back to them is: where are you willing to compromise? Sometimes that answer comes right out…other times we’ve got to tour about a dozen properties before the answer becomes apparent. No matter what price point you are purchasing in, there is ALWAYS compromise to make. In the business we joke that you should expect to get 85% of what you want. Have you ever toured a house that a friend has had custom built? What is the first thing they show you? ANSWER: everything that they would have done differently. Even if you have a home built exactly to your specifications, you are only to get 85% of what you want because you don’t even necessarily know what you want until you do, which is usually after you’ve already been given the keys.
When I met with Emily and Nicky a few months ago, they had a monthly payment that they wanted to stay under and some general criteria about the house and location. We toured everything in the price range and it was clear that they didn’t want a major fixer. We increased the spending limit: still within their pre-approval, but perhaps a hair out for their comfort zone. Within a week, we found a great house in a prefect location. The compromise: there is a new home being built next door, but it doesn’t really disturb their house.
In the end 85% of want you originally wanted can be 100% perfect as long as you have the right mindset.
