Buying a home is one of the most exciting, albeit stressful, times in a person’s life! But, one of the most important things you must do when looking at real estate is to have realistic expectations when journeying through the process. For you to keep realistic expectations, you must allow your head, and not your emotions, to control the transaction.
Here are six myths that we need to debunk to help you have proper expectations when purchasing a home.
1) You must find the PERFECT home
I’m sorry to burst your bubble on this one, but you will not find a home that fits every single item on your check list.
On your list, split up your items into non-negotiables, desires, and wishes. Once you set your priority list, your home buying journey will become a much easier one.
2) You should buy as much house as you can afford
The home you buy should be all about what you NEED, not what you want. If you are a husband and wife with one child, you probably won’t need more than three or four rooms. Just because you can afford a house with six doesn’t mean you should buy a house with six rooms. You need to live comfortably, not excessively.
3) The value of the home will increase the longer you own it
Homes are not cash cows. There are many exterior forces at work that can increase or decrease the value of your home. Just because you spend $10,000 on home improvements does not mean the home increases by that amount. You see what I’m saying? Unless you are, or know, an experienced investor or house flipper, don’t assume anything before you buy a home. Consult with your realtor if you are looking for a home to sell for profit in the future.
4) The house has to give you a “feeling” before you buy it
We all know that, in life, feelings are fleeting. They are temporary and can be influenced by many other things than common sense. Real estate agents and stagers stage homes in order to evoke emotions inside of you. You need to be realistic, and you also need to imagine what the home will look like with your belongings in the home.
5) Whatever is written into the listing is accurate information.People are human. They make mistakes. The square footage of one bedroom may show as 500 sq ft, but that may not be completely accurate. Bring a tape measure with you when you view the home. Verify that the measurements are correct. Count the number of bedrooms in the home. Verify verify verify.
6) If your offer was accepted, you paid way too much money.
Buyer’s remorse is a real thing. What matters in the end is that you were comfortable with your offer. Your realtor should be honest with you throughout the process and help you to insure that you don’t overpay for your property.