Five little pumpkins sitting on a gate.
The first one said, “The bank gave me a prime rate!”
The second one said, “This home’s listing price isn’t fair.
The third one said, “But we don’t care!”
The fourth one said, “The electrical needs repair and it’s going to cost a ton.”
The fifth one said, “But we are ready for some fun!”
Then OOOhh OOOhh went the wind
And out went the lights
And the five little pumpkins rolled out of sight.
If you’re buying a home, the very first thing you need to do in the buying process is adjust your perspective. Home is an incredibly emotional topic for human beings. It doesn’t matter if your “home” is a ranch, condo, or RV: it’s your shelter, your safe place, and most people have a vision of what they want that to be – for themselves and their family.
However, the emotion that goes into envisioning the perfect home can stunt your ability to be practical. You start taking risks that you wouldn’t otherwise, which can affect your budget and lifestyle, not just during the purchase process, but in the future, as well.
When you find what appears to be the perfect home, stay levelheaded. Don’t make an offer if it’s above your budget. Do get a home inspection, and if it shows too many repairs for your budget (now and in the next 2 years), don’t start making excuses. You could end up paying way too much and may even become house poor, which is a situation that could hurt your happiness and lifestyle for years.
Before you start looking at homes, tell yourself that there will be repairs. No home is perfect, but there is a line you need to draw for your happiness and your family’s happiness. You may need to be flexible on your wants in order to create the best future for you.
So, be practical. Have great “care” for your financial stability and ignore the “fun” urges until after the home closes, and whatever you do, don’t “fall” for the wrong home.
