Now's the time to buy! Or is it?? (part 2)

By
Services for Real Estate Pros with Berkshire Hathaway HomeServices
A few years back (I am sure you are fully aware) homes were selling like hotcakes at a Waffle house after church.

During this time, homes were selling almost the same they went on the market! Buyers were rushed into buying homes. Some lenders were “qualifying” the buyers into homes that were well beyond what they could realistically afford.

It didn’t matter they said, because at the end of the day, “you’ll be a home owner and two years from now, we’ll just refinance you and adjust your payment”. Such a shame that a few have spoiled the stew for those that are ethical.

As a Realtor, I tell my clients all the time: You will more than likely buy 3 homes before it is all said and done.

1. Your beginner home. Here, you will learn about yourself and plan for your future and set goals accordingly. Here is where you will discover that the next time you buy a house you DO want direct garage door access into the kitchen and not a bathroom.

2. Your second home will be the one that, usually, you grow in your career, and for those that choose to, grow a family. It is the one that says: I love my family and can provide for them OR it’s your “Look! I made it!” home.

3. Your third house likely will be the one after the kids are grown and gone (if you had them) and the house is just too big to take care of. The one where you decide that you would rather spend your weekend sailing or playing a round of golf and not pulling weeds, unless of course you’re into that!

These life events cannot be rushed. They are steps that we all take and should savor along the way. Don’t buy more than you can realistically afford. You’ll get there…it’s just going to take some time….
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Rainmaker
3,065,422
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hi Amanda,

Thank you for an informative and helpful article.

John Pusa

Dec 09, 2009 04:26 PM #1
Rainmaker
1,025,654
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Ok I promise I will only buy what I can afford.  Is that based on what I am comfortable with or what the lender tells me is my maximum?

Dec 09, 2009 04:59 PM #2
Rainer
27,595
Amanda Wernick
Berkshire Hathaway HomeServices - Irvine, CA
Making Real Estate a FUNomenal Experience!

John, Thank you your input! 

Tim...ALWAYS go with you YOU can afford...Lenders (bless their hearts) are trying to get you the max amount...but sometimes, it's a little too close for comfort...Speak to your tax advisor as well so that you will see the tax benefits for YOUR situation! 

Cherry Merry!

Amanda

 

 

Dec 16, 2009 05:41 AM #3
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Rainer
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Amanda Wernick

Making Real Estate a FUNomenal Experience!
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