the 5 Biggest Things Home Buyer's Often Get Wrong. Per Twitter User; RealEstateMaxi (@Alan Corey

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

Alan Corey | Real Estate Maximalist

@RealEstateMaxi

Real estate investing coach + curator of suburban landing design ideas | 3x Author | Atlanta Realtor | Investor | The real gold in my real estate blog

Comments

Bonnie Fish McGee's Spooky 1st Birthday Party! Oct. 19th, 2024. Good times.

Austin, Texas has a DOG PROBLEM.....

Austin, Texas has a DOG problem (Letter I wrote and sent) Dear Austin City Council Members, Hello and well regards, Yesterday afternoon during a simple bicycle pedal exercise ride, I was physically chased by an unleashed Pitbull dog in ZILKER PARK. Then directly after recovering from almost being mauled by an unleashed pit-bull in Zilker Park, I attempted to buy a Gatorade at a nearby Barton Springs Road Market, but that didn't go well either, as an interior Market commercial customer had a massive mixed breed dog trolling through the diminutive shopping isles. Then this morning, at a Coffee shop on SoCo, there was only 1 entry way in and out, and there was another large, although more docile mixed breed dog. All of this has occurred in less than 24 hours. What's the point? The City of Austin's dog friendliness and citizen enabling of irresponsible dog owners has gotten out of control. Newsflash! Not everybody like dogs, being everywhere all the time. especially within ...

Keeping Up with ATX local and Real Estate Broker George Vance McGee....

So GVM, how are you feeling these days? What is the married, family man, new dad lifestyle? Thanks for asking. Believe it or not, despite my youthful glow and aura, I'm now "over the hill" at 42 years of age. Physically I still feel pretty darn good. I try to cycle often on the hike and bike trail of lady bird lake. I've even bought a bicycle rack for my 2010 Nissan Rogue SUV. As a Real Estate Industry person, I apologize if my lack of a Range Rover or Mercedes Benz car ownership doesn't suffice. In regards to health, being a newborn dad will really sober you up. Coffee has long since replaced booze in my blood system. When you routinely wake up circa 7:00 am to hug your baby daughter, change her diaper, feed her, have playtime and then drive her to daycare/preschool you need to feel healthy, rested and alert. 1 thing I do miss as a responsible married family man, is the carefree, outgoing, live music and bar hopping nightlife of Austin, Texas. Let's be hone...

Search This Blog