Tim Halladay, the Host of Mortgage Solutions radio show, shares his insights about the most effective ways to narrow your home buying choices in today’s market. Don’t Overthink it!
The largest asset purchase of your life will likely be your home. How do you make this most important decision? What’s the process? How will I know when this is the house?
First of all, you have to trust all of the ingredients that have gone into the soup that is your decision. Half of your brain will make that all important decision instantaneously while the other half of your brain will try to talk you out of it. The first half “decides” based upon all your life experiences, based upon the smell of your grandmother’s oatmeal cookies and your best friend’s awesome house where you played pool as a kid, based upon the grease stain in the garage that reminds you of the cars you worked on with your dad. You may not be able to peg the basis of that decision, but you just KNOW that you KNOW.
The other half of your brain will reason you out of the decision. It sounds like “this paint color is terrible”, “that back yard is too small”, “there is too much maintenance for me”, or any number of reasonable excuses that keep you from pulling the trigger.
I, like most other Realtors, have had some buyers know this is the right house, wait to make a decision while they ponder it, only to lose out on that special home. Inevitabley, this borrower compares every other home to the one they “lost” due to hesitation or analysis paralysis. Preparation and education alone will ready you for the journey of finding your home.
So, what’s the nitty gritty of getting ready? Here are three basic steps to prepare you to make the right decision.
1. Narrow your search to your MOST important five factors. They may be Location, Bedroom Count, Bathroom Count, Storage Space (garage, basement, attic), School district or any other very important criteria.
2. Keep an open mind. Remember, you are buying location, wood, concrete, mechanical systems and land. You are NOT buying paint, furniture, odors, lawn jockeys or tacky decorations. Look at the HOUSE as it CAN be, not necessarily as it IS. Your personal preferences are what make a house a home and they can be added to every home.
3. Be ready to make a decision. When we work with a buyer at Living Well Realty in Saratoga, Malta, Albany, Troy or Schenectady our process is so refined that most buyers find their home the firs or second time out. It frequently comes down to being mentally ready to make that decision.
Prepare by educating yourself and trust your instincts, but listen to the professionals you choose. Happy house hunting!!
