Buying a home
Shaynna Blaze’s tips on compromising for your dream home
02 July 2018
It doesn’t matter if you’re buying a home to live in or buying a house as an investment property, ticking all the boxes for your next property purchase is a difficult task. Learning how and when to compromise is an important part of the home buying process.
Shaynna Blaze from Channel 9’s Buying Blind says the key to ticking all your boxes is to be realistic and strategic, and to remember to tick your boxes off in the right order!
Shaynna Blaze's secrets for a dream home
Hi, I'm Shaynna Blaze, host and designer on Buying Blind.
I'm all about having the best home possible, but it's crucial to work out what you want now, as opposed to what you can wait for. Whether you're a first home buyer or looking for your next home, it's as tough as ever to tick all the boxes. The key is to tick the boxes, in the right order.
It's easy to get caught up in the things that you dream of: the clawfoot bath, the French doors, but it's so important to be realistic and strategic. It can save you a lot of heartache, and save some money along the way.
The key is to take a two-stage approach. Create a wish list of what you must have and the nice-to-haves. Then put the nice-to-haves to the side, and then look at your must have as your purchasing. The rest, can come at a later time.
There's lots of things we dream of when we're buying our first home. The bad news is, you won't always get them. The good news is, most of it can be worked into the property, if we're willing to buy intelligently.
When buying your first home, location is everything; being by the beach, in a city, next to all the facilities. But the compromise tends to be a really tiny, horrible house. The way to make that work for you is, look at a location that's on the fringe of those suburbs, that hasn't quite got the infrastructure yet. It means if you sit there for a couple of years, build equity in your house, once the infrastructure's in the area, and you've instantly made money.
Plantation shutters give a beautiful elegance and beachy feel to a home, but come with a price. A great way to do that is with white timber venetians, while you sit there and wait to afford those big beautiful plantation shutters.
If a house doesn't already come with a lock-up garage, really have a think about what it is you want to lock up. It might just be your valuables, and a lock-up shed might be enough to get you through, until you can afford that big, beautiful garage.
Solid timber floors add value to your home, but a good compromise to start with, is timber-look vinyl planks, which are, really, a third of the price.
A swimming pool is always high on the list for a family, but not everyone can afford it. Why not put in an outdoor area with an outdoor kitchen, that everyone can enjoy, for about a quarter of the price?
Buying always comes with some sort of compromise, so figure out what you can't do without, and get creative.
In my next and final video for this series, I'll show you how to add immediate value to your home, whether you're selling or staying.
For more information, visit suncorp.com.au/homebuyingguide.
Must-haves vs nice-to-haves
As an experienced property buyer, Shaynna has seen it all and has helped hundreds of people find their dream home. Try her 2-stage approach to creating a realistic list of what you need to live the lifestyle you want:
- Create a ‘wish list’ of what you must have now (the things you can’t live without).
- Create a ‘nice-to-have list’ (things you’d love to have but could realistically live without for now).
Once you have your lists, put the 'nice-to-have list' aside, and turn to your ‘wish list’ – this is your guide to finding the right property for your needs.
By only focusing on the ‘must-haves,’ you might find there are more homes to fit your needs, giving you more property options to choose from.
Shaynna Blaze’s tips for getting the best home
Here are Shaynna’s top tips for getting the best from your home (and your budget):
- Location – look for properties on the fringes of good suburbs, that way you can build equity in your home until the right infrastructure arrives;
- Window blinds – instead of plantation shutters, try white timber venetians shutters. You’ll save money without compromising too much on style;
- Garage – think about what you actually need to secure and consider using a shed instead of a lock-up garage until you can afford to install one;
- Flooring – a more cost-effective alternative to solid timber flooring is timber-look vinyl planks, which are one-third the price; and
- Pool – while the kids might love a pool, building an outdoor area with features for the whole family to enjoy will add value to your property and cost almost a quarter of the price.
As Shaynna says, when looking for a new house, you might not be able to tick all of the boxes; however, with a bit of compromise and creativity, you can achieve your dream home.
To learn more about the home buying process, visit the Suncorp Home Buying Guide.
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