the 5 Biggest Things Home Buyer's Often Get Wrong. Per Twitter User; RealEstateMaxi (@Alan Corey | Real Estate Maximalist)
RealEstateMaxi (@Alan Corey | Real Estate Maximalist) posted: I've sold over 400 homes as a realtor and these are the 5 biggest things home buyers get wrong.
1. A primary home is not an investment You are making emotional decisions on choosing a primary homes, which is often not the best spreadsheet decision. It's okay to invest in your lifestyle, but don't expect it have the amazing ROI on your finances too.
2. Saving for a bigger house doesn't work Your savings rate will not be faster than the rate of inflation. Trying to saving another $10k to have a bigger down payment just makes you buy the same house in a year at a higher price.
3. A forever home is myth The average length of home ownership is 8 yrs. You don't need to shop for a 30-year horizon. Your preferences, life, and career will change in unimaginable ways in 8 years and you'll be ready to move on to a new life and home sooner than you think.
4. There is no perfect home Every budget from $50k to $5 million has had to compromise on something. It might be location, SF, commute, school, yard. If you don't prioritize your wants and understand you'll have to make some sacrifices, you'll never find a home that works.
5. Waiting is your #1 enemy I have clients who didn't want to buy in the boom of 3% rates & bidding wars. Those same clients also don't want to buy in the lulls of 7% rates & sitting homes. The combo of the 2 will never exist so waiting for it means being a renter forever.
To recap: 1. Primary is not investing 2. Don't try to save for larger home 3. You only need to look for a 8 year home 4. Compromising is your biggest asset 5. Waiting is your biggest enemy
Real estate investing coach + curator of suburban landing design ideas | 3x Author | Atlanta Realtor | Investor | The real gold in my real estate blog 
Comments
Post a Comment