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This Old House - Do-it-Yourself

How to Find a House You Can Afford & Make It Meet Your Standard of Living

Written by Posted On Wednesday, 06 December 2017 12:55

Buying a home is both thrilling and nerve wracking. Being able to find one that you can afford can take some time, though. You may find yourself having to make some sacrifices to stay within your budget. Here are some ways to get the most house for your money and have it meet your needs:

Utilize Flex Space

When looking at homes, you may be considering a guest room. Unless you have frequent guests, this can be a waste of space and money. An extra bedroom will increase the purchase price of the home. Instead consider another room that can be used as a guest room occasionally. This may be a den or even a finished basement.

There are Murphy bed (a bed that pulls down from the wall) options that can be used for your occasional guest that won’t impede your living space. You can even consider a pull out sofa in the family room area.

Consider Alternatives to a Garage

Typically, homes that have a garage cost more than those that don’t have one. This may seem like a huge sacrifice on your part. If you have enough space, you may be able to add a detached garage at a later date. You can install a carport to provide the cover that you need for your vehicles.

You could even build a shed to store all of the items that you would have put in your garage space. A garage doesn’t have to be a deal breaker on a home. There are other alternatives that are just as good as a garage.

Be Open to a Fixer

A home that needs a little work generally won’t cost as much as one that is move in ready. This gives you the opportunity to design the space in a way that will fit with your style. Some homes may need a little more renovation than others.

Consider what types of projects that you are willing to take on. If you have the budget to do a complete gut job, you may have more options available to you. If your budget is tight, consider living in the home and doing room by room renovations as you can afford it.

Seriously Look at Square Footage

Just because a home has smaller square footage doesn’t mean that it is less functional. Many homes offer a large amount of square footage, but it can feel like a smaller footprint. The square footage may be in a place that you won’t use that often. This is a waste of living space.

Consider what is important to you when you are shopping for a home. You may not need a dining room if you plan on eating in the kitchen. You may be able to find a home that has smaller square footage and be more affordable.

Decide what is important to you in a home. Consider these things when looking for a house.

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