Don’t Let Your Emotions Determine Your Home Buying Decision

Did you know that 80% of houses are bought for “emotion”? It’s a little scary making one of the biggest financial decisions of your life with “emotion” as a factor. One of the best ways to substantially reduce this “thrill” factor is to hire a real estate professional.

We tend to let our emotions take over when we walk into a beautiful home that appears to be perfect for the buyer and/or their family. It feels comfortable, is the right size, has the rooms or extra rooms we’re looking for, and seems reasonably priced, etc.

If you have a family with children, schools are an important part of your purchasing decision. It is very important to move forward with the knowledge that your real estate agent gives you. Visit the school your child would attend. Talk to the Principle, look at the test scores, and most importantly, check that the school’s boundaries aren’t changing any time soon. School boundaries change in an ever-growing city or community.

These are some of the concerns you should also be aware of that could affect the current or future value of the home. All of these play a role in location, location, and location. They may include:

1. Power lines

2. Airport noise

3. Backyard Privacy

4. Main or interior road behind the property

5. Sun exposure of the property

There are many other things to consider that your real estate agent should point out to you. You should be provided with a brochure that will give you any other concerns you may have such as crime, pest infestation, mold, etc.

Of course, not paying above market value is extremely important. The buyer is usually protected by the appraisal. If the house is appraised for less than your offer, then you can either renegotiate the contract with the seller or back out. Be sure to check out the comparable sales that your agent will provide you. Make sure recent sales are in the immediate neighborhood, not older than 6 months, and similar in square footage and rooms.

All of this information is a lot to take in and another reason why you should hire a real estate professional. Make sure the real estate is professional and exclusively represents YOU, the buyer and not the seller. Make sure they have years of real estate experience. Look for real estate agents with designations such as ABR (Accredited Buyers Representative) or CRS (Certified Residential Specialist). This is a good sign that they have that experience.

Buying a home should and can be a very pleasant and stress-free experience. You must be emotional and excited, but be thorough in your decision making.