What’s Love Got To Do With It?
Most home buyers make a choice on a home purchase with a combination of emotion and reason. The best approach is to get your financial situation figured out, and only see homes in the price range you can afford. Inevitably, as you search, you will find a home that touches your sensitivities… you fall in love.
The final decision on which home to buy is usually laced with emotion. Buyers choose a house that just “feels like home”. It’s a subjective end to what usually starts out guided by reason and logic. That’s ok, it’s supposed to be a merging of the two parts of our brain.
Besides, when you write the mortgage payment month after month, you want to love the place where you live!
When NOT to Fall in Love
Emotion becomes difficult when buyers fall in love with a home that has what we consider a “fatal flaw”… the glaring issue that will make resale difficult. It is heartbreaking to see a homeowner trying to sell a home with a fatal flaw. The home sits on the market for a year, but it doesn’t sell because… it sits under the power lines, next to the highway, backs to a steep hill with no back yard, downwind from the dump… you get the picture.
Buyers – Think of Resale When You Are Home Shopping
When they bought the home with the fatal flaw, it was probably because they fell in love with some aspect of it and ignored the rest. Maybe they just had to be in that particular neighborhood, or they went nuts over the gourmet kitchen, but the dis-functional floor plan missed their attention: The lack of bathrooms, the lack of living space, or that strange layout.
Functional Obsolescence. That’s what we call a home that has a fatal flow. Buyers often say… “We’ll fix that…add a room… do some landscaping…” Then life happens and they don’t get around to it.
How to Keep Perspective
There are several ways to make sure you keep resale in mind when you search for a home.
- Make a list of your Must Haves
- Make a list of your Negotiables
- Make a list of your Absolutely Nots
- Listen to your Realtor
Your Buyer’s Agent is there to represent your interests. Most real estate agents will help you weigh all the pros and cons and help you see things that they know from experience but you may not be aware of. Use your agent like a trusted adviser, that’s what they are there for.
Your Agent is Thinking of Resale
Let me be totally transparent… when you are ready to sell in 7 to 10 years because you got a new job or have outgrown your space, I want you to call me. I’ll be thrilled if you had such a good experience with my service that you think of me when you want to sell.
I won’t be thrilled if you bought the house that… sits under the power lines, next to the highway, backs to a steep hill with no back yard, downwind from the dump… you get the picture. Because now I am bound to disappoint you. Your house will be a hard sell… neither of us will be happy. You will end up making the concession on price, because if the price is right, it will sell.
So save me, and yourself, of course, the grief and don’t buy the fatal flaw.
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