Compact housing options have actually gotten very popular in recent years, but if you could have the amount of space you were actually looking for at the price you wanted you’d be happy,right?! Exactly. You might be surprised by the different options available to you! Here are some ways you can find some more space without breaking the bank. If you have any additional questions feel free to shoot me an email or contact me at the information below.
Look for homes that are just outside of your current budget and then narrow it down to homes that have been on the market for 30 days or more. When a house has been on the market that long you’ll be going into the deal with some leverage. You’ll be encountering a motivated seller because presumably at this point they just want to unload this house and they’ll be more open to negotiations.
Yes, older homes sometimes have terrible wallpaper, terrible old tile and lots of clutter. Don’t shrug this tip off just yet, as these types of homes tend to be overlooked by buyers. If you have vision, you can make this the home you’re looking for without spending too much. You might even be able to get this home for less than your established budget and use the difference to make changes.
Look to renovate
Some homes have lots of space but they feel small because of the layout. You can easily knock down some walls to make a cramped space feel very accommodating. Like the tip above you need to have a little vision, however if you like hitting walls with sledgehammers, you get a bonus!
There are also loan options that will allow you to basically bundle the renovation costs into the price of the initial home loan. If that’s something you’d be interested in, discuss it with your agent.
Discuss the new builds
This is a unique idea, but if you’re willing to purchase a home before it’s been fully constructed, you can negotiate the size. Also, if the home is a very recent build, odds are the floor plan is already more spacious so you might not even need to negotiate that much. Moving non-load bearing walls in homes that are being built is usually a trivial request.
Shared living space
Roommates or even additional family members can make it easier to afford a more spacious place. If you’re not looking to deal with the possibility of renovating, this might be the option for you. Some of the key features you’re hoping to have could be paid for by the savings you get from an additional roommate. Just be detailed in your search for the right roommate, as the wrong roommate can make a large home feel much smaller than it actually is. Find someone meticulous and clean, maybe even someone who won’t be there as often as you due to work.
Can you widen your search area?
This is a more common recommendation made by agents. If you’re willing to compromise your location at least a little bit you might be able to land more square footage. Even looking 5-10 minutes out of your ideal location can make a significant difference. So, don’t dismiss this option if you’d rather avoid the possible work of renovation. Just make sure if things like school districts are an important consideration that you still will live within the area you need to be located in. It would be unfortunate to aim for having your child attend a certain school only to realize after you close that you’re just outside the district.
I really hope you found this info helpful! If there is anything else you’d like to discuss on this list in more detail, please feel free to reach out directly as I’d love to learn more about how I can help! Feel free to browse the rest of my blog for more tips, tricks and helpful info you can use during your real estate buying or selling experience.