Should You Buy the “Except for…” Home?

Imagine finding a home that is perfect in every way, except for one nagging thing. That “thing” might be a smaller kitchen than you want, fewer closets than you need, or flooring that you dislike. Should you buy it anyway? How do you know if you should take a pass? It’s not an easy decision to make and depends on a number of factors. Trying to answer these questions might help:

  • How likely is it that you’ll find another home that better meets your needs?
  • How soon do you want to move? (If you’re in a time crunch, you may need to adjust your expectations.)
  • Is the “except for…” something that can be fixed, perhaps with a renovation? For example, there are many ways to expand a small kitchen.
  • If the home’s shortcoming is fixable, approximately how much will that cost? It might turn out that the improvement is a good investment.
  • Can you live with the nagging “thing”, especially when the home is otherwise perfect?

It can be tough to work through a decision like this, especially if you’re in a situation where you need to make an offer quickly.

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