In life, patience is a virtue. However, when it comes to homebuying, waiting too long in hopes of finding the perfect home may not be wise. Pursuing perfection can be costly as it may delay your dream of homeownership. As Bankrate explains, one of the most common first-time homebuyer mistakes is looking for a home that meets all your criteria. This pursuit of perfection could limit your options, causing you to overlook suitable starter homes in the hope of finding something better.

It’s important to understand the cost of holding out for perfection. In reality, nothing is ever perfect, and this holds true when searching for a home. Unless you’re building a brand-new home, there will likely be features or finishes that may not entirely align with your preferences. This could range from paint colors and light fixtures to the design of the bathrooms, kitchen, or even the presence of a fenced-in backyard. 

By holding out for perfection, you may inadvertently overlook many homes that could have worked for you. U.S. News explains that going into the home buying process with a narrow focus may cause you to miss out on great opportunities, preventing you from making a solid investment or moving on to the next phase of your life.

It’s time to redefine perfection, especially given the current state of affordability and inventory. Buying a home that needs some updates, is in a different neighborhood than your ideal location, or may lack certain desired features can be a smart move. Firstly, these homes are typically more affordable, which is crucial when options within your budget are limited. Secondly, such homes provide the opportunity to personalize the space or explore a new neighborhood, leading you to discover that you actually love the area. Swapping out a feature here and there after moving in may not be a significant issue. With some vision and creativity, you can transform a good house into a fantastic home. 

Revisit your wish list and differentiate your non-negotiables from nice-to-haves. Focus on what’s truly essential as a broader range of options becomes available for you to choose from. Keep in mind that there is no perfect home. With the help of an experienced agent and an open mind, you can find the right home, even in today’s market. Connect with a local real estate agent to see what options are available.

Here’s How an Agent Can Help You Explore Your Options
If you’re open to a home that needs some work or is located slightly further away, communicate this to your agent. They will be able to show you how this can significantly expand your pool of potential homes.