How about not buying the perfect home but finding one that is “good enough”?  Buying the right home that doesn’t break your budget can help lay a solid financial foundation.  It is better to see buyers purchase a home that is more moderately priced versus being cash-strapped for the next five years.

Chasing and finding the dream home can bait first-time buyers into straining their budgets. Dream home high prices can also lead you to delay the purchase and lose out on valuable equity growth.

 Does “Good Enough” Have the Essentials

Have you heard the term “Look for a home with good bones”?  That means you want a home that has been well-maintained and has all the baseline things that you will need and will not be a money pit.  It may not have the stainless steel appliances and quartz counters, but it is a well-built home that you can do small improvements over time.

Buyers tend to home in on cosmetic upgrades instead of the basics like windows, roof, HVAC, insulation, and other important areas.  Cosmetic fixes are easy for a DIY’er, but major repairs cost big bucks!

Most buyers can’t have it all – you have to decide on the features you have to have and be willing to compromise.

Does the Home Fit Your Lifestyle

Check out the neighborhood, neighbors, amenities, grocery stores, commute time, mass transit options, crime, schools and many others.  A dream home can be a dud if it is not where you want to live.

Is it a Budget Buster

 A good enough home has to be easy on your budget.   You will need to have enough money for other priorities like retirement savings,  home repairs/maintenance, emergency and vacation funds.

Over time, you can add all the features you want.  “Good Enough” is a personal choice, but try to make the decision based on facts and numbers, and not on emotion.