Why You Should Look Outside Your Price Range

By Terri Williams | Dec 30, 2019

When you’re looking for a house, budget is everything. It dictates how much home you can afford, ultimately which homes you’re able to look at. After all, you don’t want to end up risking going into foreclosure because you couldn’t maintain your mortgage payments.

However, there are reasons when looking outside your budget does make sense. Here are the top reasons why you shouldn’t be afraid to dream big and look outside your price range.

1. You can’t find anything

In today’s market, there’s a lot of competition among buyers, especially in the lower price tier. In those cases, it makes sense to look up—although real estate agents may be hesitant to suggest it.

2. Price isn’t the only factor

Ideally, you want to find a home within your desired price range, but staying under budget might not be as wise as you might think. An easier commute to work or a better school for your children to attend will add quality to your life and lower transportation or possibly private education costs.

3. You can learn a lot

Sometimes buyers have unrealistic expectations for move-in-ready properties in their price range. Most of the time after seeing properties above the specified price range will give you context and an understanding of what attributes drive pricing higher.

Originally published on Realtor.com