To Have and Have Not

Perusing book store shelves recently had me coming across the section on Ernest Hemingway. I stopped short at one book entitled: "To Have and Have Not". While this book doesn't focus on real estate, it does bring to mind some sound advice I wanted to pass along to all my favorite buyers out there.

Let me pre-face by saying that I do not begrudge you your dreams, I want the amazing restored character home on the river with the re-done hardwoods and brand new kitchen too! While most savvy home-buyers make a wish list and stick to a budget, some buyers have a dangerous tendency to lean towards that mindset of having it all, whether they can afford it or not.

Often I find myself in the situation with a buyer who has fallen in love with a type of home or home "ideal" that they simply cannot afford. It happens! They are out for a Sunday stroll to the cafe and happen upon an open house featuring a restored brick beauty from 1920, or maybe they visit a friend who just built a brand new home full of light and space, or the chic warehouse condos on the waterfront. Some buyers can view these places as homes they will have one day, or simply wonderful pieces of art, architecture, and dreams. Then they can continue on with life and regular home hunting with positive gusto, never once comparing the home they can afford to the one they could not.

That is group one.

Now group two. Another story... Not that I don't love the zest for life, and the visceral appreciation for amazingly beautiful homes that I get from this camp, but often a painful reality check is in the works for these wonderful home buyers. Its not an easy thing to do, convince someone that if their budget is $200 000, homes that would otherwise be worth more are simply not a viable option. Value is value, and while wiggle room can exist, its best not to count on it.

My advice for you: Don't look at what your friends have, or what your parents think you should have, or the pretty house down the street that you really want but won't work in your budget. Its a tempting thing to think you are willing to sacrifice Tim Horton's coffee, football tickets and shopping trips just to have that brand new kitchen you are drooling over. But just stop!

Remembering what is truly important in life should be a daily venture, never living to regret something should be another one. So in this instance, appreciate beauty and dream homes for what they are, put owning one on your to do list for sure, but make sure to remember to live in the here and now. There is nothing wrong with just starting out somewhere, working your way up in the world.

Remember that owning a home that needs some work, or is not "perfect" is one of life's adventures all on its own.