10 Things to Take the Trauma Out
of Homebuying
1. Find a real estate professional who’s
simpatico. Homebuying is not only a big financial
commitment, but also an emotional one. It’s
critical that the practitioner you choose is
both skilled and a good fit with your personality.
2. Remember, there’s no “right”
time to buy, any more than there’s a right
time to sell. If you find a home now, don’t
try to second-guess the interest rates or the
housing market by waiting. Changes don’t
usually occur fast enough to make that much
difference in price, and a good home won’t
stay on the market long.
3. Don’t ask for too many opinions. It’s
natural to want reassurance for such a big decision,
but too many ideas will make it much harder
to make a decision.
4. Accept that no house is ever perfect. Focus
in on the things that are most important to
you and let the minor ones go.
5. Don’t try to be a killer negotiator.
Negotiation is definitely a part of the real
estate process, but trying to “win”
by getting an extra-low price may lose you the
home you love.
6. Remember your home doesn’t exist
in a vacuum. Don’t get so caught up in
the physical aspects of the house itself—room
size, kitchen—that you forget such issues
as amenities, noise level, etc., that have a
big impact on what it’s like to live in
your new home.
7. Don’t wait until you’ve found
a home and made an offer to get approved for
a mortgage, investigate insurance availability,
and consider a schedule for moving. Presenting
an offer contingent on a lot of unresolved issues
will make your bid much less attractive to sellers.
8. Factor in maintenance and repair costs in
your post-homebuying budget. Even if you buy
a new home, there will be some costs. Don’t
leave yourself short and let your home deteriorate.
9. Accept that a little buyer’s remorse
is inevitable and will probably pass. Buying
a home, especially for the first time, is a
big commitment, but it also yields big benefits.
10. Choose a home first because you love it;
then think about appreciation. While U.S. homes
have appreciated an average of 5.4 percent annually
from 1998 to 2002, a home’s most important
role is as a comfortable, safe place to live.
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