Skip to main content

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

Popular posts from this blog

Sad News. Tim Harrington of Austin, Texas passed away in mid-February 2024 from a heart attack. His Memorial Service is 2/29/2024 2 pm, @ Austin Ridge Bible Church in Westlake.

The Above Photo was taken by Jim Innes during his Podium Eulogy talk for Tim Harrington. To Say the Westlake Austin Ridge Bible Church memorial service was PACKED, would be an understatement. Tim Harrington was a good man, and friend of many. He was relatable, authentic, funny, caring and social.    George Vance..... Just making sure you know that Tim Harrington passed away last weekend. Heart attack.  Tim’s Memorial Service will be: 2/29/24 at 2 PM at Austin Ridge Bible Church at 9300 Bee Cave Rd, Austin, TX 78733 in Westlake. At the Worship Center building. Please spread the word. GVM speaking here, "Tim showed up on my 40th birthday at Pitch N Putt for an afternoon of golf and bullshit. Tim was in good spirits that afternoon after boasting of his mega million dollar commercial fresh sale in SoCo. St. Elmo @ the ol' Hills Cafe.   Tim was a former SOUTHWESTERN door to door salesman and alumnus like me. A fellow bookman. Tim showed up @ my BookPeople booksignin...

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 ...