subject: First-time homebuyer trends [print this page] 1. Buying below budget for flexibility with respect to unexpected expenses (e.g. home repairs), even though the house doesn't necessarily need any big repairs such as a new roof or new major mechanics
2. Buying for ease of affordability on a single income even though the buyers actually have two incomes, even solid ones at that
3. Buying something with less square footage which is therefore cheaper to update, especially when it comes to refinishing hardwood floors and/or installing carpet.
4. Buying something modestly sized so it's less expensive to heat as well as to cool
5. Compromising on size (or even forfeiting a garage) in exchange for buying something that doesn't require any updating or expensive fixes
6. Buying based on "Location, location, location" even if it means buying a much smaller house as a hedge against future housing downturns or an unexpected move
7. Buying a "walkable home" in the city vs buying in a rural setting in order to lower commuting costs and simplify the ability to manage with a single automobile
8. Buying something with a walk-up attic to expand into in case the family gets bigger or the homeowner decides to start a home-based business
9. Buying something with an unfinished basement and/or a basement that is plumbed for a second bathroom in case extra square footage is needed later
10. Buying something with a fenced-in yard, not because they have the need for it now, but in case the homeowners start a family or decide to acquire a pet.
