Buying The Right Home ... It Isn't Always About The Price
In Carson Valley, Nevada ... like most communities ... price has, and always will be, a critical factor when buying a home. It seems, however, as if price has recently become an obsession with some Buyers to such an extent that their mindset is detrimental to their own interest. There is so much more to buying a home to live in than price.
Value is the eye of the Buyer ... or Seller. Seller's have their reason for value - their perceived need for a price to achieve, their family memories, or the many upgrades they've put in the home that separate that home from the rest of the market. Buyer's on the other hand, are visualizing their enjoyment of the property, but don't yet have the personal connection to the property. They are dreaming about what can be.
What affects price? Location, of course. But what might be a great location for one person can be a terrible one for the next. Living on a park can be great ... if you can tolerate the crowds that it attracts. Living conveniently in town is great for kids' activities... unless you want horses. Living in a condo is great for minimal maintenance ... unless you have three dogs.
If you travel frequently you will likely enjoy landscaping that requires minimal landscaping. If you like horses you'll enjoy an existing horse set up. Like to recreate on public lands - proximity to BLM or Forest Service property can provide great pleasure to you and your family. Have a boat or other toys - you'll enjoy a three car or larger garage that will protect your investments.
Many factors inside can make a difference in houses. Entertain a lot - double ovens will come in handy. Have a lot of kids - good luck with a single bathroom. Enjoy the mountain scenery - every day you wake up and see a special view from a real view property will make you feel like a winner. Whether you like a great room design, or formal "compartmentalized" design - buy the style you really like and you will enjoy your time at home. Like granite counters or do you prefer tile?
Want a garden ... or not? Need room for the RV or do you want a small lot? Do you mind fixing up a home? Are carpet and paint all you want to do, or will you do other significant repairs? Ready to tackle landscaping - new and bank owned properties require that you do.
Our Advice: Don't 
worry about the last $50 on the negotiating table. Consider the overall transaction and weigh the benefits - pro and con. If there is a better home for you out there then you should be negotiating to buy that home.
If you have found the perfect home, make an offer, negotiate the best price, terms and conditions that you can, buy it, and enjoy it. Unless it is a rental property where the numbers dictate your actions, realize that there is an emotional return on your investment when buying and living in your primary residence. Get a high rate of emotional return and you will understand why price, though important, is not all-important.
Finding the right home can be rewarding in many ways. Don't overpay and don't stress over trivia. Don't miss the opportunity to enjoy the right home for the sake of a dollar - you'll be "tripping over happiness to chase a dollar".
When it comes to choosing professionals to assist you with your real estate needs ... Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, 775-781-5472. carsonvalleyland@hotmail.com, www.carsonvalleyland.com
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Lisa Wetzel and Jim Valentine are the authors of this blog. Lisa, Jim and Jessie are experts in Carson Valley, Carson City and the tri-county area of Douglas County, Carson City and Lyon County. Call our team anytime at 775-781-5472 or 775-781-3704. To Search for Homes go to: www.findhomesincarsoncity.com or visit our website at www.CarsonValleyLand.com
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13 Comments on Buying The Right Home ... It Isn't Always About The Price
that is so true
Jim - Nice Job! What a great and inspired post! I wish buyers would stop and look at the big picture rather than sometimes splitting hairs!
Hi Jim, Isn't it amazing when a buyer digs their heels in and eventually loses a great deal - all for the last $5k ! Amazing.
Jim, I agree wholeheartedly with you. Your statement, If you have found the perfect home, make an offer, negotiate the best price, terms and conditions that you can, buy it, and enjoy it" is right on!
Every house is unique even in a cookie cutter neighborhood. The more houses I see over the years, the more I can spot the little nuances of value in each and every home. Sometimes we have to remind buyers that they are first and foremost buying a home to live in and enjoy. Getting a "deal" should be secondary. When buyers lose their dream homes over a few thousand dollars, the emotional toll is not worth the saved money. I wish buyer's agents would remember this in negotiations as well and quit trying to talk their buyers out of the home just because it's priced a little higher than all the other homes their buyers looked at and rejected.
I have seen people save a little money by not getting the slightly higher priced home (the one that wowed them) and regret it.
Good post - and oh so true!
Unless your dream and your satisfaction from life is to prove that you can have a roof over your head for "cheap," then that few extra thousand can make the difference between loving your home and constantly seeing things you wish you could change.
Oh my, why do buyers keep looking even after they've found the right house? Buy the house you love and you probably won't regret it. In a few years the extra money you might have to pay won't make a bit of difference. This is often a hard concept for buyers to grasp.
So true Jim; some people will never be satisfied and will loose the home they felt was perfect for them because they second guessed the seller or market and someone else stepped in and snapped up what could've been theirs but for a haggle over something that would not have changed their payment more than 50-100 dollars. In this market of distressed homes you can bet your bibby there will be more than one buyer interested in a cream puff.
Couldn't have said it better! Great post.
Great post Jim. Too many Buyers are focused on price versus their actual wants and needs.
This is a great post... a reminder that price and value are two different things!
Very well done! Congrats on the feature in the newsletter.