Looking to Buy a Bigger Home For Less? Let’s Make it Happen!

Columbia New Home Buyer Team
Published on July 7, 2016

Looking to Buy a Bigger Home For Less? Let’s Make it Happen!

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Compact housing options have actually gotten very popular in recent years, but if you could have the amount of space you were actually looking for at the price you wanted you’d be happy right? Exactly. You might be surprised by the different options available to you! So here are some ways you might be able to find some more space without breaking the bank. If you have any additional questions feel free to shoot me an email or leave your contact info and I’d love to get back to you.
Old listings
Look for homes that are just outside of your current budget and then narrow it down to homes that have been on the market for 30 days or more. When a house has been on the market that long you’ll be going into the deal with some leverage. You’ll be encountering a motivated seller because presumably at this point they just want to unload this house and they’ll be more open to negotiations.
Old homes
Yes older homes sometimes have terrible wallpaper and terrible old tile and lots of clutter. Don’t shrug this tip off just yet, these types of homes tend to be overlooked by buyers. If you have a vision you can make this the home you’re looking for without spending too much. You might even be able to get this home for less than your established budget and use the difference to make changes.
You’re looking to renovate
Some homes have lots of space but they feel small because of the layout. You can easily knock down some walls to make a cramped space feel very accommodating. Like the tip above you need to have a little vision, and if you like hitting walls with sledgehammers, bonus points.
There are also loan options that will allow you to basically bundle the renovation costs into the price of the initial home loan. If that’s something you’d be interested in, discuss it with your agent.
Discuss the new builds
This is a unique one, but if you’re willing to purchase a home before it’s been fully constructed you can negotiate the size. Also if the home is a very recent build odds are the floor plan is already more spacious so you might not even need to negotiate that much.
Shared living space
Roommates or even additional family members can make it easier to afford a more spacious place. If you’re not wanting to deal with the possibility of renovating this might be the option for you. Some of the key features you’re hoping to have could be paid for by the savings you get from an additional roommate. Just be detailed in your search for the right roommate, the wrong roommate can make a large home feel much smaller than it actually is. Find someone meticulous and clean, maybe even someone who won’t be there as often as you due to work.
Can you widen your search area?
This is a more common recommendation made by agents. If you’re willing to compromise your location at least a little bit you might be able to land more square footage. Even looking 5-10 minutes out of your ideal location can make a significant difference. So don’t dismiss this option if you’d rather avoid the possible work of renovation. Just make sure if things like school districts are an important consideration that you still fall within the area you need to be located in. It would be unfortunate to be aiming at having your child attend a certain school only to realize after you close you’re actually just outside the district.
Again I really hope you found this info helpful! If there is anything else you’d like to discuss on this list in more detail, leave me your contact info or reach out to me directly and I’d love to talk! Feel free to browse the rest of my blog for more tips tricks and helpful info you can use during your real estate buying or seling experience.

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Looking to Buy a Bigger Home For Less? Let’s Make it Happen!
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