When buying a home, buyers must balance multiple tradeoffs including proximity to work versus lifestyle amenities, move-in ready versus customization, immediate needs versus long-term equity building, square footage versus walkability, and privacy versus convenience; sellers should prioritize maximizing value over quick sales and consider small upgrades that yield 3-4 times their investment.
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5 Home Buying Tradeoffs Nobody Agrees OnAjouté :
Closer to work versus closer to lifestyle.
>> Well, a good thing in Princeton you get both. West Windsor you get both because of the proximity. Same thing with Montgomery. Obviously Mercer County is a big employment hub, but we do have a lot of New York commuters who do go in, you know, three to five days a week because they want to raise their families here.
>> Move-in ready versus make it your own.
>> The move-in ready you're going to pay more, right? It's going to be [music] a higher price per square foot. It's going to be a higher overall sales price. So, if you're looking to have a lower purchase price, [music] make it your own. If you're looking to move in and unpack your bags, move-in ready.
>> Perfect now versus perfect long-term.
>> I think that's a great question.
Princeton is I think long-term [music] equity because you can buy a small house on a conforming lot and sort of build into it over the time and, you know, expand your equity that way. So, there's a few ways to do it in town.
>> Bigger house versus better location.
>> To me, location, 100%.
>> Square footage versus walkability.
>> Well, the closer you get to Nassau Street, the lower the square footage.
So, I think if you want walkability, [music] you're going to have to make that sacrifice for the most part.
>> Quiet street versus close to everything.
>> Me, close to everything.
>> Privacy versus convenience.
>> Convenience.
>> Quick sale versus maximizing value.
>> Oh, sellers should always look to maximize value. It stinks. Nobody wants to go through it, but again, please don't rush to sell your house. If you're thinking about [music] it next year, start the painting process today.
>> Listing as is versus small upgrades that pay off.
>> Small upgrades that [music] pay off. For every dollar you spend, you're making three to four back.
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