1 – Waiting until next year to buy it.
It won’t be available next year, and if it is available, it will usually cost more. Look at the projected price and availability a year from now and see if it makes economic sense to wait.
#2 – We have to be by our friends.
The best value may be in another area. Friends are not always informed or objective about the market.
#3 – We are going to be here forever.
Plan for the unexpected. Changes in financial status, health, or family needs can occur and require a sale sooner than expected. Resale value will count at some point, so consider that possibility when buying.
#4 – It is just for the two of us…or we have such a big family, we need many bedrooms.
Many people find themselves selling the first home and buying a larger one within two years because there the kitchen is too small, or there isn't adequate space for guests. Others scale down later because they were tired of running a hotel for friends and relatives.
#5 – We only want to spend…?
Price is a factor, no matter what the budget, but it shouldn't be the only factor. With interest rates extremely low, buyers can get more home than they expected.
#6 – We loved/hated the look of the decorating.
Look beyond paint, wallpaper, and furniture, and see room size, layout, windows, and view. Some resales need a face lift, but that shouldn't get in the way of a good value if the layout and location work well.
#7 – This location/community has all the amenities we will use.
Those are all nice amenities if they match the buyer's interests. Not only is the cost of the amenities built into the price of the home and the association fees, but buyers who don't use the amenities may not have anything in common with their neighbors.
#8– All communities will accept our 3 big dogs and 24ft boat.
Many communities have deed restrictions of some kind. They can be as varied as the number and size of pets allowed, to the ability to park a boat in the driveway.
#9 – We need to see it built before we buy.
Developers begin selling properties before models are completed, before amenities are built, and sometimes before the first shovel of dirt is moved. Buyers, who have the foresight to look at floor plans and to thoroughly check out the reputation of the builder, can lock in a prime location at the lowest price with complete confidence.
#10 – We have to keep looking until we see everything on the market.
In any given month, there are usually 50 resale homes on the market. In addition, there are almost as many new homes being constructed. It isn't possible to become an expert on everything in the area in a short period of time. Find a Realtor and be ready to make the right decision when you see it.