Taking
the Trauma Out of Home buying
- Find
a real estate professional who’s simpatico. Home buying
is not only a big financial
commitment, but also an emotional one. It’s
critical that the practitioner you chose is
both skilled and a good fit with your
personality.
- Remember,
there’s no “right” time to buy, any more
than there’s a right time to sell. If you
find a home now, don’t try to second-guess
the interest rates or the housing market by
waiting. Changes don’t usually occur fast
enough to make that much difference in price,
and a good home won’t stay on the market
long.
- Don’t
ask for too many opinions. It’s natural to
want reassurance for such a big decision, but
too many ideas will make it much harder to
make a decision.
- Accept
that no house is ever perfect. Focus in on the
things that are most important to you and let
the minor ones go.
- Don’t
try to be a killer negotiator. Negotiation is
definitely a part of the real estate process,
but trying to “win” by getting an
extra-low price may lose you the home you
love.
- Remember
your home doesn’t exist in a vacuum. Don’t
get so caught up in the physical aspects of
the house itself (room size, kitchen) that
you forget such issues as amenities, noise
level, etc., that have a big impact on what
it’s like to live in your new home.
- Don’t
wait until you’ve found a home and made an
offer to get approved for a mortgage,
investigate insurance availability, and
consider a schedule for moving. Presenting an
offer contingent on a lot of unresolved issues
will make your bid much less attractive to
sellers.
- Factor
in maintenance and repair costs in your post-home buying budget. Even if you buy a new
home, there will be some costs. Don’t leave
yourself short and let your home deteriorate.
- Accept
that a little buyer’s remorse is inevitable
and will probably pass. Buying a home,
especially for the first time, is a big
commitment, but it also yields big benefits.
Choose
a home first because you love it; then think about
appreciation. While U.S. homes have appreciated an
average of 5.4 percent annually from 1998 to 2002,
a home’s most important role is as a
comfortable, safe place to live.
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