REAL LOVE, REAL ESTATE: THINKING IN TERMS OF LOVE WHEN BUYING A HOME.
MICHELE COMPARES LOVE AND MATCHMAKING TO BUYING A HOME. WHY WOULD YOU BUY A HOME YOU ARE NOT IN LOVE WITH?
Love Lesson 1: Be Prepared to Make the Commitment.
Shopping for a home is like looking for a mate. Until your ready to make the commitment, you’re probably not ready to settle down with a home. Ask yourself first if you’re willing to take on the responsibility of owning up to being a good homeowner.
Love Lesson 2: Know What You’re Looking For.
Do you require the 5 star treatment? Have a good idea what attracts you to a property. Look for characteristics that please you. Draft a list of requirements that you desire so that when you’re ready to settle down, you are shopping the right criteria.
Love Lesson 3: Keep “Geographically Desirable” in Mind.
This element is extremely important because location determines how conveniently located your home is to your lifestyle. Also, consider the value of the location vs. the price. Look at the surroundings and ask yourself if there are possibilities of growth, improvements and changes that will either hurt or harm your value.
Love Lesson 4: High Maintenance May or May Not Work for You
First impressions are everything, however, look at the overall property and its good and bad points. Consider the repairs and improvements that may be necessary and its associated costs before you move on. Keep your list in mind. You will need to know how to identify the qualities that please you, without being distracted by little things that don’t really matter.
Love Lesson 5: Your Property is a Reflection of You.
Your home should please you and make you happy. In other words, it should say a lot about the person you are. Everything you like in life is somewhere reflected in your home, whether it is style, color, or personal belongings. Loving where you live is part of the romance of owning.
Love Lesson 6: Nurture it Extensively.
If you treat your home with care, chances are, you’ll have fewer problems in the future. If something breaks, take care of it timely, rather than letting a maintenance issue become a bigger, costly repair. Taking proper care and paying attention to maintenance will most likely bring you a favorable return in the long run.
Love Lesson 7: Investigate the Red Flags but Don’t Judge by a Bad First Impression.
Determine how much you are willing to put into it. If it’s going to require a lot work, maybe it’s not for you. Determine how extensive the repairs or improvements are before purchasing. If it requires high dollar repairs or a complete overhaul, consider your checkbook and schedule. It may work for you in the long term, but in the interim, your life may be a disaster.
Love Lesson 8: Considering Multiple Homes
If you’re buying a second (or third), decide if you really have the time, money and responsibility to put into it. There is always the risk of owning more than one home and not being able to enjoy the purpose of having it. A second home needs to be treated as good, if not better than the primary.
Love Lesson 9: Determine whether it is Long or Short Term
When considering a purchase, be realistic about how long you plan to hold the property. If you are planning to stay short term, you may not want to buy the highest priced home on the block. Pay close attention to the location in which you are buying and be aware of the surroundings that could affect its value. If you plan to hold the property for many years, consider the same factors; however, be sure it is a home you absolutely love, while making sure you can grow into it and not out of it.
Whether you are buying long or short term, identify the condition of the economy and the current real estate market. This will have a lot to do with your negotiating power.
Love Lesson 10: Head Over Heals
The most rewarding part of owning is falling in love, day after day, when you walk in to your home. If you haven’t experienced that…..you’re probably not in love and may want to consider making some changes.