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….