Finding the Unexpected Dream Home

Years ago I worked with a first time home buyer, a client named Joleen.  Joleen called to me after meeting me at an open house for a home that was not very suitable for her.  But after we started talking, she believed I would represent her well in her home search.

Two weekends later we were out looking at properties.  She was searching for a one bedroom condo in three different neighborhoods in Boston.  Her budget was a bit lower than the average condo, considering everything she wanted.  This is a common challenge especially in pricey cities.  Nonetheless, I was pretty confident we would find something, and her enthusiasm for becoming a homeowner kept her very committed to the home search.

Disappointment after disappointment for three weeks!  It was a terrible market, when prices where going up and the pressure to find something mounted.  But we kept looking.

One Sunday afternoon Joleen went  on her own to see some open houses.  She called me around 3pm with a report.  Enthusiastically, she told me about two condos she saw she absolutely loved!  The size was just right and the layout perfect.  “Where are they?” I asked.  Well, they were in areas outside where we looked for the past three weeks.

Joleen ventured out to other neighborhoods just to look and was delighted to find homes that were bigger and on a higher floor than first or basement level.  But it was up to me to remind her of where she wants to live before we made a decision to make and offer.

Location is the single most important consideration when buying a home, I told her.  If you don’t feel excited about the area you will live in, if you don’t like the neighborhood or if it doesn’t meet your needs, the size and quality of the home is meaningless.

The condos she loved added 25 minutes of commuting time and had fewer restaurants and shops in the area.  Was this a compromise she was ready to make?  It was not, so we moved on.

Then we went out to see a few other condos, and one of them was advertised as completely updated kitchen and bath.  Although a bit of out of the price range, we went to see it.

This condo was much like the others we saw and disliked, but with a newly remodeled bath and kitchen, and a premium price tag to match.  Yet, looking at the place, Joleen noticed that the workmanship and finishes were not so great, and certainly not worth the premium price the seller expected to get for the condo.

The search continued on for weeks and no condo had the right combination of amenities for my, now, exhausted client.  It was time to change strategies.

I suggested Joleen make a list of what is most important to her in a condo.  What did she need in a location, size, and floorplan?  Next, she was to prioritize her needs and they looked something like this:

First came location.  She knew she exactly where she would be happiest and most comfortable.  She narrowed her list down to two neighborhoods.
Next, she was not willing to live in a first or basement level condo.  This was not negotiable for her and I respected that.
She was willing to do some work to her condo, so we stopped looking at places that have been updated and would cost more.
Last came the size of the condo.  She realized that depending on the floor plan, 500 square feet may be enough.

A week later we found the right place!  It was in her ideal spot, close to her train, near shops and restaurants.  It was on the fifth floor and a bit outdated but totally functional.  Although she was looking for a one bedroom, Joleen was delighted in finding this studio, which easily fit her budget.  She found her dream home.

My job now was to nag her at least three times to ensure that a studio instead of a one bedroom would make her happy for the next three or more years.  I needed to know that this compromise was easily done.  She bought it and she was delighted with her decision. We both learned that we need to know what are the factors in which we can compromise and what was absolutely non-negotiable.

What things are non-negotiable for you in a home?

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