Why You Should Never Fall in Love with a House
Sparks are flying. Your imagination has become hot and heavy. It’s true love. You’ve fallen hard – for a house!
Buying a house is serious business. It’s not only where you’ll be hanging your hat: it’s also a great investment. So when you find the one that’s the total knockout you were hoping for, the excitement can be blissfully overwhelming. But — easy there, partner! Falling in love with a house too soon is a predictably bad idea.
· Love at First Sight Can Backfire
Whether you drove by or saw the home on an online listing, it’s all too easy to get stuck on a home’s curb appeal. Exteriors count for a lot, and with more houses than ever being listed online, wise sellers know how to make sure their property looks great from the outside. But beauty that’s skin deep in a house isn’t good enough. It’s what is inside — the bones of the place — that can be the difference between a canny investment and one that never quite pans out.
Takeaway: Don’t ever judge a book (or a house) by its cover. Wait for a clear-eyed walk-through before you get your hopes up.
· Love is Blind–and that’s Not a Good Thing
Okay, so you’ve gotten inside the house, and now you’re borderline obsessed. Crown moldings? Check. A gorgeously remodeled kitchen? Check. There’s one more check to make: it’s time to check your excitement. While it’s A-Okay to grow excited about a home’s features, now you have to double-check: does the property as a whole truly square with your list of must-haves? (That’s the list you were supposed to sit down and create before you started hunting). How’s the square footage? Age? How does the asking price measure up to the comparables? And then, when all else is flashing green lights, how does the physical plant measure up during inspection?
Takeaway: Put the brakes on that passion so you can focus on all the unromantic details.
· You Can’t Break Up With a House
Buying a home is a big deal for a reason. You’re undertaking a complex legal process that will bind you to a property — with any and all warts and flaws — for the long haul. Falling in love with a home can put you at a disadvantage during the negotiating and purchasing processes. By surrendering to romance, you make yourself more vulnerable to deals you shouldn’t afford. And you’ll also be twice as devastated if it falls through. Instead of sighing over a house, practice a sense of healthy distance. This is an investment, too!
Takeaway: Remind yourself as often as necessary that falling in love now can hurt you later. Don’t make excuses – you can’t make a bad purchase disappear!
So when is the right time to fall in love with a house? Right after you’ve purchased it! To get started on the right track, give me a call!