No one likes to overpay for a purchase, and this is particularly true when buying a home. After all, every square foot of space or block closer to a top school will cost you big-time!
So if you’re a thrifty soul who must make every home-buying dollar count, check out these home features that often inspire sellers to jack up their price. That’s fine if you truly want these things, but if not? You’re wasting your money.
1. A huge yard you rarely enjoy
A sprawling green lawn may have a certain curb appeal at first sight. And if you have kids or plan to spend a lot of time outdoors, it’s a fine feature to splurge on. But if you doubt anyone will be out there much, you’re just tossing money out the window.
It turns out sellers charge a premium for that patch of grass, and you’ll funnel even more money going forward on lawn maintenance (or else spend your weekends mowing, weeding, and pruning the yard).
“It could end up just costing you a lot of money to maintain, even though it’s not being enjoyed,” says Tim Bakke, director of publishing at the Plan Collective, a website that provides house plans.
2. A short commute you won’t use
If you work from home, commute at off-hours, work in the suburbs, or are retired, don’t pay extra to buy a house near mass transit, or within easy driving distance of major office areas—those are homes that regular commuters might covet, prompting sellers to charge up the wazoo.
“Homes closer to major commerce centers cost quite a bit more than homes in outlying or suburban areas,” says real estate agent Jamie Klingman at Boutiquerealtyflorida.com.
Is this an important factor to you? If not, consider a home that’s a bit farther out to save cash.
3. A top school district when you don’t have kids
A home zoned for a great public school will always command top dollar on the open market.
“And you’ll also pay for this through your taxes,” says Bakke.
However, if you don’t have (or plan to…