House hunting on a budget is not easy! You can get drawn in by a home that has everything you like, only to realize it's priced $50,000 above your spending limit. Then, the houses you do look at in your price range don't seem so appealing. Is there any way to win this game and find a single-family home you love without overspending? Yes, there is. Here are a few ways to do it.
Buy in an improving school district.
In most regions, there are certain school districts that have long been known to be excellent. Homes in these school districts cost more than homes in school districts that have received average and low ratings. Clearly, if you have kids or plan on having kids, you do not want to move into a terrible school district — but you also may not have the money to spend on a home in the highest-rated school districts. There is a work-around. Look at the ratings for school districts in your region, and see which districts have shown a lot of improvement over the past few years. Homes in these districts still tend to be reasonably priced, and in a few more years, the district will probably be as good as the ones with the highest ratings currently.
Look on the dead-end streets.
Many people do not want to live on a dead-end street. And homes on dead-end streets do not get as much attention when they're listed for sale since people don't drive by and see the "for sale" sign. For these reasons, you can usually find more affordably priced homes on dead-end streets than on through-streets. So take a minute to drive down the dead ends when you're house hunting.
Settle for an outdated but well-maintained home.
People often assume that if a home has not been updated in a while, it probably needs a lot of repairs. But this is not always the case. If a home was meticulously maintained, its design may appear outdated, but the structure, appliances, and other elements may still be in good shape. You can save a lot if you're willing to set aside your opinions on design and live in a home that's a bit dated design-wise but still very functional.
If you are having trouble finding a single-family home within your budget, employ the tactics above. There are reasonably priced homes out there if you're willing to sacrifice a little. Contact a real estate agent for help with finding single-family homes for sale in your area.