Real Estate and Algebra...

           Most buyers these days are remarkably well informed.  They know they need to visit a lender, get pre-approved and find out exactly what they can comfortably spend for a house.  They know the process will include lots of internet searches, lots of drive-bys, and some open houses.  They research neighborhoods, check out schools and study all kinds of statistics in the hopes that when they actually start looking at houses, they’re prepared.

They also know they need a Realtor to help them.  Because no matter how much research they’ve done, they’re pretty sure they’re in over their heads.

Real estate is complicated like Algebra is complicated. 

Just consider me your real estate tutor. 

Not Algebra though.  Definitely not Algebra.

Wow! You Won Powerball?!

            That’s awesome!  You can buy any house in town!

            Oh.

           

            That wasn’t you? Oh, sorry....

            Then, let’s talk about expectations.  Whatever amount you’ve been approved for, chances are you’re thinking you’re going to find the perfect house. 

            You’re probably not.

            In fact, you’re about as likely to find that perfect house as I am to find a ten carat diamond while planting petunias.  Maybe not impossible, but certainly improbable.

            Every house is a compromise of some sort. Don’t set yourself up for disappointment by expecting perfection. 

            What you can expect is to want to paint or re-do a floor, change out some appliances or add new landscaping.  More than expect it, you should look forward to it. You might think you want a house where you won't have to "do anything", but the truth is you'll do things.  Lots of things.

            Because, the changes you’ll make to the house you buy are how you put your personality on it.  So, forget all about that perfect house.

            Instead, let’s find the right house.

Looking for Love in All the Wrong Places

        

Location, location, location…  Everyone knows it’s the first rule of real estate.  

            When you’re setting your priorities for your home, make sure one of them is location.  It doesn’t have to be at top of the list.  Just make sure it’s on the list.  Location really is important -- important for your home purchase and even more important for a future sale. 

            You can make a lot of improvements to a home, but it’s pretty hard to pick it up and move it.

            Other priorities should revolve around what you actually need for your family.  Not just bedrooms and baths.  Consider your lifestyle.  Whether you home school, or garden or have a wardrobe to rival Jessica Simpson’s, your lifestyle determines exactly what your family needs in a home.

            Make a list.  It will help you cement your priorities in your mind. 

Where is Superman When You Need Him?

            When you’re house shopping it would be nice to have x-ray vision.  Since I’m assuming you don’t have that handy-dandy superpower, you should always have a home inspection.  Your inspector will check for structural and mechanical defects, make sure all the equipment is in working order and even climb on the roof.

            They’re not Superman either, but they sure can save the day.

            It is all too easy for us -- both Realtor and buyer -- to be dazzled by a beautiful gourmet kitchen or spa bath.  Home inspectors are more impressed by updated wiring and plumbing.

           

            There’s just no accounting for some people’s tastes.

                       

It's Not Very Cute, is it?

            Buyers sometimes refuse to go inside a house because they don’t like the exterior.  This is perfectly understandable if the house reminds you of the Adams Family Homestead.  But, here’s a helpful hint:  If your Realtor is encouraging you to see the inside, just do it.  He or she more than likely has seen the house and thinks you’ll be impressed.  Curb appeal is important, but you’re going to live inside.

            And often, improving your curb appeal is as simple as fresh paint or flowers or adding paving stones or shutters. And your Realtor knows that.

            There are lots of other ways you should trust your Realtor too.  He or she really has your best interests at heart and the absolute last thing we want is an unhappy customer.  That’s the kind of thing that leads a Realtor to the Help Wanted section of the local paper.

            Or to buying Powerball tickets…

Trust me, It’s fun!

            In the end, have fun!  It’s fun to look at houses.  Even if you don’t like one, you can still get ideas to use in the one you will like. 

Don’t stress over the fact that you’re spending what seems like a lot of money.  In the end, it’s just one little old payment at a time. Kind of like rent, but with a much better financial return.

            You and your spouse are not on the same page?  No worries.  You will be.  Looking at houses is how you figure out what’s really important to you.  And how you see what’s important to him.

            As I told a first-time home buyer just a few days ago, the process may be frustrating at times, but the pay-off is pretty sweet.

            In the end, it’s not just a house and it’s more than a home.  It’s the place where your memories happen.