Henry Asks… How can I avoid my emotions when it comes to home buying and ensure that I make a sound financial investment?

Often times, it easy to get caught up in the moment as a homebuyer, especially when come across your “dream home.” This can lead to you making a decision with your heart rather than your head. It is important as a homebuyer going through the process of finding a home, to remain level headed. This way when it actually comes time to make an offer, you know you’ll be making a wise financial decision.key

Review the following advice to help avoid the most common emotional mistakes that homebuyers are making these days.

 

  1. Avoid love at first sight. When it comes to real estate, you must avoid falling head over heels for the first property you see. Shop around and be sure to look at a multitude of homes even if you love one of the first few that you see. By doing this you may avoid the buyers remorse, skipping necessary details, and overlooking the true value of the property.
  2. Be realistic about the housing market. As a general rule thumb, you must always remember that there is not necessarily a better deal waiting for you. Do your research on the area in which you are looking to buy and you should definitely get a general feel for what you should expect to pay. By sitting and waiting on a better deal, you may miss the opportunity to buy.
  3. Nothing hurts more than overpaying. We all want to find our dream home and unfortunately for many, when they do they overpay greatly. One of the worst things that you can do as a homebuyer is to overextend yourself financially. Always remain within your budget, even if the home of your dreams is right in front of your eyes.
  4. Understand that lowballing can ruin it all. Like anything, it is common for us to want something at the lowest price possible. But when it comes to home buying it is of utmost importance to make a reasonable bid on the home. A seller will see right through what you think of as “negotiating” and what is in reality, lowballing.

If you do your best to follow the advice listed above, you should be in a home and feeling financially comfortable in no time.

Meet Cheryl!

About Cheryl

As a successful business owner and community leader, Cheryl Braunschweiger is known and respected for getting things done with a degree of skill and enthusiasm that bring out the best in those around her - colleagues, clients and friends. The name of her business, ALMC Mortgage, reflects Cheryl's philosophy and personality. She says it stands for All Loans Must Close –a reflection of her determination to do whatever it takes to serve her clients. Cheryl has been in the mortgage lending business for 20 years. Read More About Cheryl
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