For the longest time, it seemed as though buying a property was just another point on the long list of things that you did throughout your life. You got an education; you found a job, you bought a house, fell in love, got married, had kids, etc. Sure, you might not necessarily have wanted that kind of stereotypical life, but the point was that you always had the option for things like buying a house if you chose to do so. However, in the modern era, things are a lot more complicated than that. House prices have been rising steadily for years, and the financial crash of 2008 made the idea of being able to afford any kind of property incredibly difficult for a lot of people. When you combine those things with the fact that most wages haven’t been growing at anywhere near the same rate, buying a house can often feel more like a fantasy to many people today. However, that doesn’t mean that it’s impossible. The reality is that you can still buy a home, you’ve just got to be willing to make compromises on certain things. Here are some of the things that you may end up needing to compromise on if you want to be able to buy your first home.
When people think about buying a home, there’s probably a pretty stereotypical image of a house that pops into their mind. We all know the image: a detached property with a yard and a white picket fence. However, that’s far from the only option on the market, and it’s certainly not the one that’s always going to be the best value. A 2 room flat for sale might not have the same traditional quality that you might have wanted from a home but’s likely to be on the market for far less than you would get for a similar sized house. Of course, if you really wanted to save money and do something different, plenty of people have found that things like vans and houseboats offer them some seriously unique opportunities. Not only are they going to be far cheaper than other properties, but they give you the kind of freedom that many people could only wish for.
One thing that a lot of people forget is that you’re not just buying a property, you’re going to be buying into the area that the property is in. This can often be an incredibly significant factor when it comes to trying to find the best possible property. A great property in an area that’s not as popular or highly regarded is going to be a lot cheaper than the exact same home in a more expensive area. Of course, this may mean that you’re going to be further from things like schools or local towns, or that the location isn’t quite as well maintained as others. If you want to live in a specific area, then you’re going to have to think about finding a smaller property to get the same kind of value.
We would all love a big house with huge amounts of space, but that’s not exactly an option for everyone, especially if you’re working within something of a limited budget. However, the truth is that you might not need nearly as much space as you think. There are plenty of homes which are extremely small, and people have made the most of them through creative interior design decisions. Not only that but a smaller home can sometimes encourage you to get rid of stuff that you don’t need. Plus, there are plenty of people who have taken their home’s size and turned it into a feature. Plenty of tiny homes can have a great deal of charm and personality, as long as you’re willing to make adjustments to the way that you live.
The available rooms
As amazing as it would be to have a different room for every single thing that you wanted to do in your home, that’s never going to be a particularly realistic option. Things like home offices, garages, attic rooms, or even spare bedrooms, might be nice, but they’re not exactly necessary. Of course, the kind of things that you do with your time are going to have a big impact on the kind of rooms that you need in your home. If you’re someone who does a lot of DIY, then a garage is going to be more important than a spare room, but if you run a business from home, then you may not want to compromise on a home office. Think carefully about what you need from your home, not just what you want.
Having a great big yard can be wonderful. It gives you a place to hang out, somewhere for the kids to play, and it gives you the opportunity to grow things like your own vegetables. But it can also be something that adds a lot of value to a property. Because of that, it’s a good idea to think carefully about how much you really need a backyard. Are their things like parks near to your home? If there are then, it might not be as necessary as you think to have a garden. After all, people living in apartments might not have gardens, but that means that the same amount of money can get them something much larger and more impressive than if that value went into the outdoor spaces.
Of course, it’s incredibly important to remember that the things that you end up compromising on are going to be entirely up to you. You need to think incredibly carefully about exactly what it is that you’re willing to give up and what you can’t bear to go without. Sure, the more compromises that you make, the better a chance you’ll have at finding a home that you can afford, but you also want to make sure that you find a home that you’ll actually be happy in. If you compromise on everything you want, you may end up finding that buying a home wasn’t really worth it after all.