Buying a house is a bit like buying a gift for yourself. A gift is not all about price but it is about giving something that you feel will give pleasure to someone. A house not only should be a roof over your head but it should give one pleasure.
Right now buying a house is all about price and not about pleasure. I think that is a shame. I will hold a house open and the first question before the person will step in the house is ,what is the price, how long has it been on the market, when was the last price reduction, and what is the motivation of the seller? Hello, do you even like the house? Come on in and look around.
My buyers when they first start liking a house first will want to know how cheap they can get the house for. Will this be a deal? My question back is, "Does this house speak to you? "Do you feel it meets most of what your are dreaming for? Yes, it is important to have a house fit into one's budget, but you just don't buy because it is a good deal, you buy because you "love" it. My mother-in-law has a house full of things she has bought on sale and they remain in their boxes and have never been used. I argue that if she had bought one thing she really wanted and not all the "stuff", she would have saved money.
A buyer should not look at the list price and think how much less can I buy this house for. They should first look at the house, fall in love, and then buy for they perceive the value or not buy if they don't see the value. A person buys a cashmere sweater because it looks good, feels good, and will last longer than a knock-off. You know, the same is true with a house. You buy a sold house and it will look good, last longer, and make you feel good. Go buy a gift for yourself, a house. I'll even tie a ribbon on the door for you.
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