Are You a Non Compromising Home-Buyer ?

These days home-buyers are opting for ‘no compromise’ when it comes to choose location other than their preferred one. In shopsandhomes.com very few people have shown their interest in compromising on their desired location. A research on more than 45,000 people reflect that 58 percent of people looking to purchase a property are either searching or waiting for a property to be available for sale in the market in their preferred location.

 But Shopsandhomes.com indicates that such people are playing a ‘risky game’ in a market where the increasing property rates meant they could look out themselves priced out of their selected area. Playing this game of waiting and holding out for the preferred house in the preferred location could really prove risky because the way property rates are increasing every month in some locations, buyers may find that their preferred property for which they  have been waiting for long time is now over their budget. Across the city, people most who were willing to compromise on the location were first-time buyers.

Those who want to purchase smaller homes were not keen on settling for a second-choice location. Almost 92 per cent of people fall under this category of refusing to consider somewhere else. Meanwhile, in a survey 79 percent of people expect property rates to increase in a year’s time. There is no match between buyer’s ‘no-compromise’ attitude on their most preferred location to live and the increasing tide of prices. Thus, fulfilling the aim of the getting preferred property in the preferred location, and that too at an affordable price, is really a significant challenge.

Yet if people can just widen their scope of preferred location criteria even within a few kilometers, they might be able to get the kind of house they want, but at a more affordable price.  Furthermore, the downsizers who are one of the least willing to compromise might run the risk of leaving moving very late and have much less energy to fully enjoy the liberties of moving into a smaller home and a new community.