First Time Home Buyers: Or, How the Newbie Gets Stymied
So, you want to buy a home, but with so much new to you it can become a whirlwind of confusion and indecision. That’s why I bring you this vastly important blog about the mental aspect and general overview of being a first time home buyer. First, don’t panic. Listen to the people and professionals around you, filter it through your own common sense, and believe in yourself.
I want to own a home so much that I won’t:
Listen, much like dealing with yet another embarrassing season from the Lions…you will go through many emotional stages when buying a home ranging from: “we’re only 0 and 4 and still in the hunt,” to, “WHY DID THEY SIGNED CULPEPPER?” This translates into your situation as, “We can get so much for so little,” to, “EVERYTHING IS TOO EXPENSIVE.”
The most important things to realize are the same lessons that thousands of Americans learned when the housing bubble burst. It’s not a house; it’s a home. It’s not a status symbol; it’s where you build your future. And, it’s not a one-year payoff; it’s a very fruitful investment that demands your ability to hold tight in bad times and take advantage in good times. This is really all very easy; follow the time-tested advice of your parents. Buy low, sell high, and don’t expect an immediate return on your investment.
I want to pump…me up!
The first mistake two mistakes most first time home buyers make are: Not realizing that buying a home is something to be excited about and pretending to be excited about buying their first home. There is a reason that home ownership is considered to be the most important part of the “American Dream”. With that said, please realize that you can’t fake the funk just because your friends seem to be into something you are not. Home Ownership is not for everyone, and I feel strongly that the desire of home ownership is something that burns deep within certain Americans but not all Americans. I also feel very strongly that this desire of home ownership is sought by the masses and torn down by naysayers. We all know a negative-nancy or two. These purveyors of pessimism will connive their conviction of constancy in common aspirations and affect your affliction for amazing achievements. Poetic, not?
Remorse…like Morse Again?
No matter what you do, remorse will be there. You cannot control it, but you can rationalize through it. When you feel remorse, ask for help. Ask your Realtor about the neighborhood. Ask your loan officer about the monetary difference between renting and owning. Ask homeowners, how they feel about owning their home. The thing not to do is to sit and brew in doubt. This will lead to nothing but inaction on all accounts and honestly if you wanted to live in an apartment forever, you would not have considered buying a home in the first place.
This room is purple, I hate purple.
Have you ever seen the movie Borat? Have you ever heard the music of chanting monks? Have you ever met someone that voted for Ralph Nader? People make odd choices, especially when building their nest. You will surely run into this when shopping for a home. This is where small details meet the raw material you have to work with. Don’t look at a home and fret over the cosmetic details. It’s the equivalent of someone bumping into you to distract you from a pick pocketing. Remember, an oven in the bathroom can be ripped out a lot easier than a beer can roof. Look for structural integrity above all.
Flip it? I’ll flip this whole freakin’ neighborhood- while flippin’ the bird.
Look, TLC inspires us all…. well some of us…but just because Ty Pennington can turn a pumpkin into a carriage, doesn’t mean you can. This is where dreams of grandeur meet the raw materials you have to work with. Ok, so it’s the opposite of the last point. But, the same way that many first time buyers are too picky about cosmetics, some ignore serious issues by thinking the bottom line price will reflect in their end sale price without regard to how hard some repairs will be. Again, look for structural integrity above all.
So, what’s the endgame?
Get professional advice, filter that advice through your gut feeling, know your limits, be ready, make a decision, trust that decision, don’t look back, and most of all- ENJOY!
© 2008 Matthew Watts
I want to own a home so much that I won’t:
Listen, much like dealing with yet another embarrassing season from the Lions…you will go through many emotional stages when buying a home ranging from: “we’re only 0 and 4 and still in the hunt,” to, “WHY DID THEY SIGNED CULPEPPER?” This translates into your situation as, “We can get so much for so little,” to, “EVERYTHING IS TOO EXPENSIVE.”
The most important things to realize are the same lessons that thousands of Americans learned when the housing bubble burst. It’s not a house; it’s a home. It’s not a status symbol; it’s where you build your future. And, it’s not a one-year payoff; it’s a very fruitful investment that demands your ability to hold tight in bad times and take advantage in good times. This is really all very easy; follow the time-tested advice of your parents. Buy low, sell high, and don’t expect an immediate return on your investment.
I want to pump…me up!
The first mistake two mistakes most first time home buyers make are: Not realizing that buying a home is something to be excited about and pretending to be excited about buying their first home. There is a reason that home ownership is considered to be the most important part of the “American Dream”. With that said, please realize that you can’t fake the funk just because your friends seem to be into something you are not. Home Ownership is not for everyone, and I feel strongly that the desire of home ownership is something that burns deep within certain Americans but not all Americans. I also feel very strongly that this desire of home ownership is sought by the masses and torn down by naysayers. We all know a negative-nancy or two. These purveyors of pessimism will connive their conviction of constancy in common aspirations and affect your affliction for amazing achievements. Poetic, not?
Remorse…like Morse Again?
No matter what you do, remorse will be there. You cannot control it, but you can rationalize through it. When you feel remorse, ask for help. Ask your Realtor about the neighborhood. Ask your loan officer about the monetary difference between renting and owning. Ask homeowners, how they feel about owning their home. The thing not to do is to sit and brew in doubt. This will lead to nothing but inaction on all accounts and honestly if you wanted to live in an apartment forever, you would not have considered buying a home in the first place.
This room is purple, I hate purple.
Have you ever seen the movie Borat? Have you ever heard the music of chanting monks? Have you ever met someone that voted for Ralph Nader? People make odd choices, especially when building their nest. You will surely run into this when shopping for a home. This is where small details meet the raw material you have to work with. Don’t look at a home and fret over the cosmetic details. It’s the equivalent of someone bumping into you to distract you from a pick pocketing. Remember, an oven in the bathroom can be ripped out a lot easier than a beer can roof. Look for structural integrity above all.
Flip it? I’ll flip this whole freakin’ neighborhood- while flippin’ the bird.
Look, TLC inspires us all…. well some of us…but just because Ty Pennington can turn a pumpkin into a carriage, doesn’t mean you can. This is where dreams of grandeur meet the raw materials you have to work with. Ok, so it’s the opposite of the last point. But, the same way that many first time buyers are too picky about cosmetics, some ignore serious issues by thinking the bottom line price will reflect in their end sale price without regard to how hard some repairs will be. Again, look for structural integrity above all.
So, what’s the endgame?
Get professional advice, filter that advice through your gut feeling, know your limits, be ready, make a decision, trust that decision, don’t look back, and most of all- ENJOY!
© 2008 Matthew Watts
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