Buy Alexandria Real Estate: What Would You Do to... Buy a Home?

Alexandria Virginia Real Estate Blog

What Would You Do to... Buy a Home?

There are many important reasons that people decide to purchase a home.  Among the top reasons according to the National Association of REALTORS "Profile of Home Buyers and Sellers 2010" are:

  • "Desire to own a home of my own"

  • "Desire for a larger home"

  • "Change in family situation"

  • "Job-related relocation or move"

  • "Desire to be closer to family/friends/relatives"

  • "Desire to be closer to job/school/transit"

All of these are great reasons and can be great motivations to make the leap from renting to buying.  As you are likely aware, the purchase of a home is one of the greatest if not the greatest financial investments and commitments you'll ever make.  In fact, while planning to purchase a home, many buyers are willing to make sacrifices in other areas of their life in order achieve the American Dream of homeownership.  Forty-six percent of homebuyers report that they have made some sacrifices such as reduced spending on luxury items, entertainment or clothing.

The chart below from the "Profile of Home Buyers and Sellers 2010" shows the sacrifices that first-time and repeat buyers make in order to purchase a home.

Sacrifices to buy a home

Most of these seem like reasonable sacrifices, and after all, nobody needed to sacrifice a goat!  When it comes to financing a home purchase, I always tell my clients that they should buy the driveway and the garage before they buy the new luxury car!

All of this makes me think of those old Klondike commercials, you know, "What would you do for a Klondike Bar?"

 

So what would you do to... buy a home in Northern Virginia?

 

 

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Comment balloon 3 commentsBrian Block • May 17 2011 05:58PM

Comments

It's interesting that so few were willing or felt it necessary to alter vacation plans!

Posted by Jay Markanich, Home Inspector - servicing all Northern Virginia (Jay Markanich Real Estate Inspections, LLC) over 6 years ago

So many of our buyers are dreamers right now.  They want a home, but not willing to sacrifice for one.

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) over 6 years ago

Great Post Brian ... funny ending!  I did apprecaite the message! 

Wishing yiu the best!

Posted by Lisa Wetzel, CDPE, SFR carsonvalleyland.com (RE/MAX Realty Affiliates) over 6 years ago

Participate