Property Lines
Buying with your heart
October 2011
Buying with your heart
October 2011
How can you know if a particular house is the right one for you? Other than pricing considerations, you must ask yourself three questions:
Is it in the location that best suits your needs? In other words, does this area offer the schools, shopping, transportation, and lifestyle you want? Also, will an investment in this area be profitable for you when the time comes to sell?
Does the house have the features you need? The two most important items are bedrooms and bathrooms, followed by kitchen, living area and floor plan. Although the house must have certain basic items that are essential to you, it’s not unusual for buyers to make some compromises. Some shortcomings may be overlooked if the location is ideal and if the buyer really likes the house and neighborhood.
Does the house feel like it is the right one for you? Does it, or the possibility of what it may become, excite you? Don’t buy a house that doesn’t appeal to you from an emotional point of view. You should be able to take pride in your home and look forward to living there. It will require a large portion of your earnings to make the monthly payments and pay for needed repairs and maintenance. These financial obligations become an extra burden if the house does not appeal to you emotionally.
The role of emotions is one of the major factors that distinguish home buying from other types of investments. You should not, however, let your emotions sway your decision making when purchasing other real estate investment properties. They will have to make sense based on their financial merits. But when buying your own home, feelings count.
ADVICE: The easiest way to find out about homes for sale in your price range is to use the services of a real estate agent who belongs to the multiple listing service that covers the area you want. After seeing a list of all the homes available, you can choose which homes you want to visit. You will know when you have found the right house for you. You will feel it.
Thomas Ervin writes the nationally syndicated column “Let’s Talk About Real Estate” for RealColumn.com.
Is it in the location that best suits your needs? In other words, does this area offer the schools, shopping, transportation, and lifestyle you want? Also, will an investment in this area be profitable for you when the time comes to sell?
Does the house have the features you need? The two most important items are bedrooms and bathrooms, followed by kitchen, living area and floor plan. Although the house must have certain basic items that are essential to you, it’s not unusual for buyers to make some compromises. Some shortcomings may be overlooked if the location is ideal and if the buyer really likes the house and neighborhood.
Does the house feel like it is the right one for you? Does it, or the possibility of what it may become, excite you? Don’t buy a house that doesn’t appeal to you from an emotional point of view. You should be able to take pride in your home and look forward to living there. It will require a large portion of your earnings to make the monthly payments and pay for needed repairs and maintenance. These financial obligations become an extra burden if the house does not appeal to you emotionally.
The role of emotions is one of the major factors that distinguish home buying from other types of investments. You should not, however, let your emotions sway your decision making when purchasing other real estate investment properties. They will have to make sense based on their financial merits. But when buying your own home, feelings count.
ADVICE: The easiest way to find out about homes for sale in your price range is to use the services of a real estate agent who belongs to the multiple listing service that covers the area you want. After seeing a list of all the homes available, you can choose which homes you want to visit. You will know when you have found the right house for you. You will feel it.
Thomas Ervin writes the nationally syndicated column “Let’s Talk About Real Estate” for RealColumn.com.
