Why Searching for Your “Unicorn House” Isn’t a Good Idea
Here's a word of advice for buyers in search of their “unicorn house.”
Given the number of homebuyers we work with each year, it’s no surprise that many of them come to us with a list of 20 to 60 items they absolutely must have in their future home; this is where the term “unicorn house” originates from.
Pursuing your “unicorn house” is probably not a good idea. Why? Well, for the very same reason you wouldn’t pursue a unicorn: They just don’t exist.
Because you’re unlikely to find the home that checks off all 10 boxes, house-hunting requires some compromises. One major drawback of holding out for the perfect home is that you’ll often end up sitting on the sidelines waiting for that home to arrive on the market; some wait months, others wait years, and others choose to never buy at all.
All the while, you’re losing out on appreciation and the opportunity to build equity in a home. For what reason? The average homeowner only stays in a property for somewhere between four and six years, so it makes much more sense to find a home that suits your lifestyle and make that home yours.
Our advice is to find a home that you love, rather than going on a never-ending search for your mythical “unicorn house.” Hopefully, you found today’s message valuable. If you have any real estate-related questions for us, please reach out. We look forward to hearing from you!