Motivation, Emotion and Circumstance.
Real estate is really about people - their Motivation, Emotion, and Circumstances, MEC. Most real estate transactions are put together ... or not ... because of the above. The real property is what it is - it is the people that change. So how does this help you be confident in your purchase? Understanding this will enable you to examine your motivation, emotion and circumstances as well as that of the Sellers of homes you are interested in buying.
Your wants and needs in a home will impact every aspect of your MEC. If you have five children you won't want a two bedroom condo. Want horses ... you need the right lot size and zoning. Want a short commute ... where do/will you work. Specific schools for your children ... buy in that district. Great room or formal floorplan ... buy accordingly. Two story, basement, workshop, etc. ... put it on your list.
If you want to be near family or friends find the nearest neighborhood to them that meets your criteria and then shop in earnest. Don't want to be near family ... do the opposite! How long do you plan to hold the property ... plan your exit strategy when you buy- make sure you are buying something that is generally appealing in the market. Make notes of your family needs, your recreation endeavors, and your budget. How much you can/want to spend. All of these should be considered when you decide what and where to buy.
As you go through your MEC preparation understand that Seller's, too, have their own MEC. The marks in the doorway charting their children's growth won't be going with them. Nor will the sink that their babies were bathed in, or the stunning mountain view they enjoyed so much. They might have a family need to move, a job reason, or health ailment necessitating a change. They are selling for a reason - their motivation. If a Buyer and Seller are sufficiently motivated there will be a healthy transaction. Motivation isn't always a sign of weakness ... it is, however, the main factor(s) that will direct a person's action or decision making. Understanding your motivation and that of the Seller will help you know if you are making the best buy you can get on a specific property.
Our Advice: When you are clear in your MEC you will be able to study the market for properties that meet your minimum criteria. Knowing what you want will help you establish what it means to you will give you the confidence with your buying decision that you aren't making a mistake. Remember, your agent isn't buying or selling anything - only you know what the true value to you is. Don't act, or not act, because of your agent. Assemble the information your agent provides and evaluate it as it relates to your MEC. There will be a very logical course of action ... act accordingly. It isn't always about price - how good of a deal will you get if you compromise on the house you buy to get a "scream'n deal"?
Beauty is in the eye of the beholder ... and so it is with real estate. Buy for you and your wants and needs and you can buy with confidence. Experience is Priceless! Lisa Wetzel & Jim Valentine, RE/MAX Realty Affiliates, www.carsonvalleyland.com, 775-781-5472.