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10 Things to Take the Trauma Out
of Homebuying
- 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.
- 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.
- 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.
- Accept that no house is ever perfect. Focus in on the
things that are most important to you and let the minor ones go.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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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