OK!
So you're in the market for a house . . . WHY?
What got ya going?
Is it because your current home is too something?
Too BIG?
Too small?
Interested in moving to another location to get closer to Church?
or get into a better school zone for the kids?
Or do you just want a change in environment?
I'd wager that ALL of these are good reasons to move.
In fact, I cannot think of many reasons NOT to buy a house in todays' real estate market . . . or in ANY real estate market for that matter.
The truth is . . . Smart real estate purchases are good investments.
Odds are good that if you buy it "right", and you enjoy it for 5-7 years, you will come out ahead financially . . . and the bonus is that you will have the benefit of being able to LIVE in it for those years.
So what does "buy it "Right"" mean?
I believe that buying it right means knowing what your goal is before you start looking.
A great REALTOR can help you with this during an initial consultation.
What this DOESN'T always mean is "Getting a steal" . . .
If you're out there looking to jump on a bargain you may actually find a REAL bargain - That is, you'll get it for some significant amount of money less than your perception of real market value . . . which checks the box of "Getting a Steal"
BUT!
How's that yard?
Is there enough play space for the kids?
Is the house livable?
What up-dates will need to happen immediately?
What up-dates will be on your "someday list" that will likely never get done?
Did you get enough space . . . The "Right rooms" for your family to live comfortably?
Are you having to compromise your living standards (goal associated with the move) at all?
Are you making a bedroom out of a Dining Room to get that 4th bedroom . . . or defining "Dad's Office" by a rectangle of duct tape on the floor in the corner of the bonus room?
and you justify all of this with this silly little comment:
"I know it's not perfect, but I got a STEAL!"
Now!
Don't get me wrong here . . . I love scoring a steal. It gives me a feeling of chest-beating, primal grunting, peacock tail fanning victory.
So I've got nothing against getting a steal . . .What doesn't make sense to me is when "Getting a Steal" becomes the GOAL to the exclusion of needs and wants.
Don't compromise your standards when buying something as important a HOME.
Some folks might argue that investors are more inclined to to be "steal hunters", and to some degree this is true, yet even investors must have goals/strategies . . . Doesn't make sense for an investor to buy a steal that doesn't match his profile. "Flippers" often goof when they suddenly become Landlords by buying the "Steal" duplex next door to their flip not knowing beans about owning and managing rental property.
The bottom line here is that when buying real property for ANY reason, the most important thing you can do up front is to REALLY FOCUS on your intentions/goals . . . Get clarity on those and run EVERY property candidate through your filters of needs and wants based on those goals . . .
and when a STEAL makes it through your filters, JUMP ON IT!
If the "PERFECT RIGHT PROPERTY" shows up but is not quite the "steal" you are looking for?
JUMP ON IT!
Buying real estate isn't like buying meat at the grocery - You can get a "Steal" on a "Butcher's special Steak" this afternoon and enjoy a great meal tonight . . . and it's over . . . Buy a "Steal" on a home, and you'll be LIVING in that thing til it's time to move again . . .
As with everything - LEAD WITH FOCUS!
I'm just sayin'
Best,
b
twitter @barryowen
Barry Owen
Principal Real Estate Broker
Keller Williams Realty
30 Burton Hills Blvd
Nashville, TN - Green Hills
615-568-2123
Simply & BOLDLY Living the FourFold Way in Open Space!
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