What to know before searching for your dream home

• Why buying your dream home when you’re older might be a better option

• How to create your dream home without raining on your new neighbour’s hopes

• Sydney’s most liveable suburbs

When we imagine ourselves settling down in our “forever home“, rarely does the thought of compromise enter the picture. The two concepts just seem too disparate to mix.

But when it comes to making your home-ownership dreams a reality, experts are in agreement: compromise is not a dirty word. 

Adrian Bo, a partner at McGrath Coogee, says the higher the budget, the greater the focus on finding “the one”. 

But he says every buyer will need to compromise at some point in the pursuit for perfection.

“Even if someone has a budget of five, six, seven or $8 million, there’s still something they’ll compromise on,” says Mr Bo, who has seen the scenario play out many times over almost 30 years in the industry.

“If it ticks eight out of 10 boxes, the property is within the budget and the price range, then that’s as good as it’s going to get for you.

“Ten out of 10 is not going to happen. There is no perfect home.”

Some criteria are more important than others. When it comes to living near schools and places of worship, Mr Bo says buyers are usually firm. 

Compromises were usually made among lifestyle choices, such as being close to the beach, having a pool, the aspect of the house or parking.

With Sydney’s rapidly rising property prices, “fussier” buyers who started their wish list criteria 18 months ago and take time to buy again can find themselves at a disadvantage unless they prepare to review their requirements.

This may mean accepting the block of units next door or the busy road that was originally considered a dealbreaker.

“If it takes six to 12 months to find a house, they’ve found themselves outpriced and out of the market,” Mr Bo says.

“That’s when it goes from a nine out of 10 to a five or six.

“If they’ve already sold, it can be expensive to be fussy — especially if it takes six to 12 months to buy.” 

Through selling some of Sydney’s most significant properties, Ken Jacobs, of Christie’s International Real Estate, has shared many buyers’ experiences on the path to finding perfection.

“My advice to people is that your emotions are usually right,” Mr Jacobs says. “What I see in this business is that when people fall in love with a property, that’s a true indicator that they’ve found ‘the one’ and they should follow their instincts.”

But it’s also important to recognise when it’s time to rule out a property.

 “If they become quite analytical about the pros and cons, it’s probably not right for them,” he says.

Agent James Baker, of McGrath Avalon, is marketing the type of home at the top of everyone’s wish lists.

The harbourside house at on more than 1000 square metres at 8 Paradise Avenue overlooks Pittwater, has views from nearly every room and is just 50 minutes to the CBD.

Its boat house also had starring role in Domain‘s popular video series, Avalon Now.

“This home has been incredibly well designed but the area where it is located is the most attractive thing — it’s 200 metres from Paradise Beach,” Mr Baker says.

“The design is also in keeping with the area and the owner has had a big influence on the property’s aesthetic.”

Buyers’ advocate Tricia Cox finds buyers’ fantasies are the same everywhere — and in all price ranges. 

“Ideally buyers should not compromise on position but they may have to compromise on land size or the amount of renovation needed,” Cox says.