Cannot find the Perfect Home? Use the 80-10-10 Rule!

After touring thousands of properties for thousands of clients, I can confidently say that not every client finds the perfect home!

Many buyers begin their home search with their “must-haves”or “like-to-have”. Characteristics are a great starting point to begin with for the home search. However, reality sinks in once properties are visited and the realization that you will never find the perfect property dawns upon you. Some buyers start to truly understand what they need versus what they want. Home buyers concluded that every home comes with trade-offs, and its important to have some flexibility in not purchasing the perfect home.

I wrote this article because I was inspired by an article I read on “Use the 80-10-10 rule to know if you’ve found the right house”. The article resonated with me because I can relate to it so much after experiencing many client reactions and their decisions when we finished property tours.

Use the 80-10-10 rule to simplify your search. It can be an efficient guideline. Know how to evaluate what matters most to you.

80% of what you love: This is the foundation of your dream home, the elements you can’t live without. Think location, home size, or architectural style. These are the features you’ll be hard-pressed to change.

10% of what you can improve: These are things you can upgrade over time to bring the home closer to your vision, such as paint color, type of countertops, flooring, or cosmetic fixtures. Improvements can be done as you settle in.

10% of what you can live with: There might be a neighbor’s fence you’re not keen on, a water tower in the distance. Although these aren’t ideal, they may not be deal-breakers. If it’s minor and livable, don’t let it overshadow the 90% that works.

Below is another interesting concept that can help you stay focused and guide you in making the right decision. It’s crafted to help you cut through distractions and stay focused when touring properties.

The L.O.V.E. formula! Here is what it stands for:

• Location: Where is the property situated? Is it close to work, schools, transit, or lifestyle essentials that matter most to you? Location is one of the few things you cannot change. It should be a top priority!
• Offerings: What is the home actually offering in terms of specs: such as how many bedrooms, and bathrooms? The square footage, garage, yard, systems, and infrastructure? Does it meet your current and future needs?
• Value add: Is there potential to improve or build equity over time? Examples include: unfinished garden design, cosmetic updates, expansion potential, or zoning upside.
• Exit strategy: What’s the resale potential? Even if you plan to stay long-term, it’s wise to consider how the home will perform in the future market if you ever decide to sell or rent it out.

This acronym can help you cut through distractions and focus on the fundamentals that matter most for both lifestyle and long-term value. A home becomes what you make of it.

Unless you are constructing your perfect home, there’s no such thing as the perfect house. However, with the right formula and vision, there is a right house for you.