Are You
Buying a House or a Home?
As you read and study about buying real estate, you will
often find the words "house" and "home"
used interchangeably. There is a huge difference between a
house and a home.
A house can be a place to eat, sleep, park your car, and
put all your "stuff" (including other family members).
It is a material possession and an investment. A home is where
you feel comfortable, warm, safe, and protected.
A home is where you live.
A house is something you buy logically. A home is an emotional
purchase. When buying real estate you have to balance your
emotional wants and your logical needs because there will
almost certainly be a time when the two conflict.
Example
For example, you may want a house with a view, but the payment
is higher than you feel comfortable with on a thirty-year
fixed rate mortgage.
What do you do?
Purchase the house anyway and budget more carefully for the
next few years? Buy the same house without the view and get
it cheaper? Make a larger down payment by borrowing from your
401K or family members, so you get a lower payment? Get an
adjustable rate mortgage with a smaller payment instead of
a fixed rate loan? Or buy a smaller house and still get the
view?
When viewing the house, most people look at it emotionally
and envision it as a safe, happy, comfortable home. Later,
when making the offer or filling out a mortgage application,
your logic may begin to kick in, instead. That's when "buyer's
remorse" may come up, but...that's a different article.
Balancing Act
The trick in buying real estate is to view all decisions with
both a logical perspective and an emotional perspective. If
a situation presents itself that requires a trade-off, decide
on whether there is a huge conflict or a small one. Logic
should win the big conflicts, but emotion should always be
a factor, even winning the small ones.
You will find yourself owning a warm, happy, safe home –
and an investment for the future at a price you are willing
to pay.
Tips brought to you by
Real Estate ABC's.
About Blaine Morris, Marin Properties
As a top-producing licensed REALTOR with
Frank Howard Allen in Greenbrae, California, Blaine Morris
specializes in Central and Southern Marin County. Always just
a phone call or email away, Blaine works seven days a week
for his clients, providing them with the utmost in fast and
efficient service and follow through. Whether you are searching
for the home of your dreams, or thinking of selling it, Blaine
can turn your dreams into reality! Behind Blaine is the strength
and stability of the Central Marin office of Frank Howard
Allen, the #1 office of the #1 Brokerage in Marin County.
Contact him today at 415.925.3279 or
click here.
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