According to RealtyTimes.com, first-time home buyers who want affordable homes may want to take a hard look at fixer-uppers, smaller homes, and cheaper commutes to work to save on the costs of buying and owning a home.

Real estate brokers say many home buyers expect more than they can afford in a home.

In an online survey of 150 of its brokers, 102-year-old realty firm Coldwell Banker discovered some disturbing trends among first-time home buyers.

While nearly half of the brokers surveyed said affordability was the number one concern for first-time buyers, 81% of those buyers also consider move-in conditions to be very important when searching for homes. Only 7% are considering fixer-upper homes.

The real estate company suggests more buyers should examine the fixer-upper option to get the affordability they seek.

“In the past, first-time home buyers were willing to purchase older, more basic houses in an effort to save money and break into homeownership,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate.

“It is important for first-time homebuyers to remember that by considering a fixer-upper for their first home purchase, they can build equity over time and later move up and into their second-stage home that better reflects their expectations,” he added.

Buyers looking for affordability who go with the fixer-upper option should get the home professionally inspected to determine what fixing up is necessary.

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