Does real estate market have a return policy?

Does real estate market have a return policy?

You know the long lines to service desks at stores, where customers can return or exchange items they bought 30, or 60 or even 90 days ago.

Mostly, you get full refund, in some cases in form of store credit, and everybody walks away happy. 

What about real estate? It used to be quite sure shot: if you bought a house, you could be pretty sure that you can sell it at a profit few years later, and come out ahead, or at the very least break even. 

Buyers remorse was easy to cure: sell the house, and get another one that fits your needs and life style better. 

Today things changed. It's similar to a flea market with no return policy. If you buy something, you need to plan to live there for a while, the longer the better for your ROI. It seems to be the reason that buyers are somewhat reluctant to pull the trigger. Understandably so.

Take your time, and don't be afraid to change your search criteria. Discuss with your Realtor® what kind of life style you prefer, not just square footage, number of bedrooms and baths. For example:

• Do you need walkable neighborhood?
•  Do you love gardening? 
• Do you need a house that will grow with you? 
• Are you planning to to downsize soon? Maybe you can settle for something smaller already? 
• Can you have an alternative commute to your workplace, so that you can look at different towns? 
• WHEN is your commute? 

Test drive your possible future route from new home to work. Do so on a weekday! Weekends are quite different, even though some routes can be chronically blocked at all times. 

Even if you have your mind set on a single family, take a look at town homes. They are listed in MLS under condominiums, and might not be appealing to someone who desperately wants to get out of an apartment building and is dreaming about privacy of a single family. Here in Metro West area, you can find townhouses that offer you the feel and backyard size of a single family home, while costing less and taking away maintenance headaches. There are beautiful town homes in Natick, MA. Take all options into consideration, and make a careful choice.

Back to return policy analogy. Look for a house that you will not want to bring back. Find a HOME for you and your family, that you fall in love with. Always look within your price range, because it's much easier to fall in love with more expensive properties, and get discouraged. Know very well what you can afford, and keep looking for THE ONE in that price range. Your dream home is out there! 

Once you find it, make sure you don't miss it. Talk to your agent, and if it's priced right make an offer. Otherwise, it might just slip away from you. If you settle for "something for now", trading it in might be not an easy task, and money might be lost.