When it comes to buying a property \u2013 particularly your first home \u2013 everyone wants it to be perfect.<\/strong><\/p>\n But in reality, there\u2019s no such thing.<\/p>\n So we really need to talk about the \u201cC word\u201d: Compromise.<\/p>\n According to realestate.com.au finance experts Bryce Holdaway and Ben Kingsley, of The Property Couch, there are no 10\/10 properties, so in order to get as close as you can to your dream home, you have to evaluate your priorities.<\/p>\n \u201cEssentially, we\u2019re going to have to compromise somewhere to make a decision,\u201d Holdaway says.<\/p>\n Holdaway and Kingsley say there are four key areas you should consider when compromising on your property: Price, location, land size and quality of the dwelling.<\/p>\n Price is the most tricky factor to compromise on. How much money we need to borrow and\/or save is pretty well fixed, \u201cunless you win the lotto, or you\u2019ve got an inheritance\u201d, according to Holdaway.<\/p>\n While you may think that you definitely only want to live in one particular suburb, compromising on exactly where you want to live can be beneficial. Will moving to the next suburb over give you a cheaper price, and therefore enable you to spend more?<\/p>\n \u201cIn some cases, if they\u2019ve got no flexibility on the budget, they might need to move to a different location,\u201d says Holdaway.<\/p>\n If you are dead set on a certain location, maybe you can\u2019t afford to buy the four-bedroom house on a large block?<\/p>\n \u201cIf I don\u2019t want to compromise on location, I potentially have to compromise on the land size and I may have to go from a house to a townhouse or a villa,\u201d says Kingsley.<\/p>\n Another key compromise factor is the quality of the house or unit you\u2019re looking at. If\u00a0you\u2019re not willing to budge on your dream location, perhaps settling for something that needs a bit of work is the best way to get close to your dream home.<\/p>\n \u201cAm I going to buy something that\u2019s a \u2018renovate or detonate\u2019, so I can get a bit of extra size in the land, or do I actually want the shiny taps and the new carpet, which means I might have to compromise on that land size,\u201d says Kingsley.<\/p>\n \u201cTo get that 8\/10 property I\u2019m going to have to compromise somewhere to make a decision. It\u2019s either price, location, size of land or quality of the dwelling, and it\u2019s good to know that in advance.\u201d<\/p>\n \u00a0<\/p>\n
\n <\/p><\/div>\n Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"![\"Property](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/wp-content\/uploads\/2017\/08\/07152809\/quadrant-body.jpg?resize=2000%2C1500&ssl=1\")
<\/p>\nPrice<\/h3>\n
Location<\/h3>\n
Land size<\/h3>\n
Quality of the dwelling<\/h3>\n
For more from The Property Couch, visit\u00a0thepropertycouch.com.au\u00a0or subscribe to The Property Couch podcast, available on iTunes or Android.<\/strong><\/em><\/h6>\n
The Property Couch provides a general opinion based on current market conditions. These opinions should not be treated as investment advice. Always obtain advice based on your individual circumstances.<\/span><\/strong><\/h6>\n