In a seller’s market like the one we’re in now, many homebuyers are having to compromise to find and buy their new home.
Over the past year, the biggest compromise buyers have made is having to spend more. Forty-eight percent of buyers in a new HomeLight survey said they paid a higher price than they expected. No surprise there, what with home prices up all around the country.
What’s especially interesting to me are the other compromises buyers are making. Almost one-third ended up buying an older home than they wanted. And almost a quarter of buyers said they compromised on the size of the home, its overall condition, and/or the size of the yard.
Here’s the takeaway for Tri-Cities homebuyers: Think about what you’re willing to compromise on and what you’re not. We’re succeeding in getting our buyer clients into new homes, but not without some give and take along the way.