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Serving Your Hillsborough NJ Real Estate Needs |
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The Home-Buying Compromise
There are three characteristics of a home purchase. Property, town and price. As the buyer you get to choose two of these ' the market determines the third. Let me explain.If you want to live in a new 3000 sq ft home in Expensive City, (you've chosen the property and town), you will have to spend, say, $800,000 (price). If you can spend $200,000, and want a new 3000 sq ft home (price, property), you will have to live in Cheaptown (town). If you can spend $400,000 and want to live in Expensive City (price, town), you may have to buy a condo (property). Most people are limited by their budget. Very few buyers can afford what they really like - and of course, some people say if they can afford it, they don't want it! It doesn't matter whether your maximum is $2,000,000 - you'll REALLY like the house for $2,500,000. So, buying a home always involves compromise. My advice is always to avoid making compromises on location, whether in Cheaptown or Expensive City. And there is always the real estate mantra ' 'buy the worst house on the block.' That is usually the best investment, because you can always fix up the house, but it's unlikely you would be able to turn around a whole neighborhood. As a buyer's agent, I will never ask you to compromise on neighborhood. I will, however, suggest properties that offer many if not most of the amenities you're looking for. But don't expect them all. Karl von Loewe, Broker/Sales Associate Prudential New Jersey Properties 408 Route 206, Hillsborough NJ 08844 (908) 874-3401, Ext 305
 
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