Budget Increases when Shopping for a Home

Dated: March 9 2022

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When you set a budget for a new home, you’re expecting and hoping to find the ideal property within that price range. Unfortunately, it doesn’t always work out that way.

In fact, there are many circumstances in which you might have to rethink your budget and possibly even increase it, to get the home you want. For example, you might find that properties in neighbourhoods you’re targeting are selling for more than you expected. In that circumstance, you might have to look for a home in a different area, or see if you can bump up your budget.

Another scenario that often comes up is changing wish lists. You may view a few homes for sale and realize that a particular feature is more important to you than you initially thought. For example, you might have budgeted for a three-bedroom home, but once you’ve seen a few properties with four bedrooms, you think, “OK we definitely want four bedrooms!” That might result in a budget increase.

Finally, you might find that you view a property that's perfect for you and fall in love with it. It may have everything you need and you've got to have that home! But, its price is outside your budget. In that case, you’ll need to weigh paying a bit more against getting a home that will have a significant and positive impact on your lifestyle and happiness.

As you can see, there’s a lot to consider when shopping for a home and trying to stay within a budget.

If you would like help with determining your budget for a new home, call me anytime and I'd be happy to work with you!

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Candy Ashdown

As an experienced REALTOR® specializing in residential sales in both the Fraser Valley and Lower Mainland, Candy works with buyers and sellers of all types of homes. Buying and purchasing a home i....

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