I often compare buying a home to getting married; there are many parallels if you take a second to think about it. This comment often raises eyebrows and once a few of the obvious one are pointed out, I get to the one that buyers miss.
If buying a home is likely to be the single most financially important thing that you’ll do, getting married has to be the single most socially important thing you’ll do (with a big foot in the financial camp). A few of the more obvious similarities:
- Both are significant social milestones
- Both are significant financial milestones
- Both require a connection that enhances your life, if not then what’s the point
- Both require extensive forethought; due diligence if you will
- Both have an option period; engagements and due diligence periods
There are many others, but the one that I go right to has a “Godfather” connection; Both are easy to get into and each can be very difficult to get out of.
I have many buyers that come to me with visions of grandeur when they begin the home buying process; almost always these are first time buyers and often, newly married couples. Wide eyed and bushy tailed, they are learning as they go and regularly have expectations that are diametrically opposed to the real world. Early in the conversations, I’ll drop the analogy…”Buying a home is like getting married, easy to get into but it can be a bear to get out of.” As they try to digest that off the wall comment, I elaborate and explain….”What if you need to sell that home sooner than expected? Six months or a year?” I then continue….
My job isn’t to tell you what type of home you will like, where you want to live or how much you want to spend. You handle the emotional side of this; I’ll handle the data and transaction. Once you find “that house” my job is to ensure that you fully understand the process; achieve the best possible purchase scenario; understand the data trends in the area; understand where the market may be over the next 6-12 months and that when you sign at the closing table that you do so with confidence. In short; I am expected to cover all of the “what if’s” and worst case scenarios.
The siren song of a “good looking home deal” can cause as many headaches as that of the “eye candy spouse”…we all know sellers and spouses that wish they had a do over (or two…three). The best compliment I’ve received was given a few weeks ago at the closing table….”Hank, you remind us of the Mayhem Guy from those Allstate commercials. Every time we see those we yell “Hank!” I loved that analogy and the two referrals they’ve since sent to me.