Buying a home is never more fraught with the possibility of emotional entanglement than when the buyer is a woman. Studies have shown that 70% more women than men tend to get caught up and ‘fall in love’ with a home whether it is within their budget or not. And sometime even when it is not suitable for that they want. Sometimes, a piece of real estate just speaks to you – rather like those big eyes of an adorable pound puppy.
The trouble is, that can cause trouble. A home costs a great deal more than a puppy. Having to sell it again will cost you in terms of time and finances – and probably a great deal of stress. And when you buy through impulse, you risk getting a home that in a few months you realise is driving you mad in one way or another. Maybe you hate traipsing up and down the stairs when you come home tired from work. Or perhaps that separate garage is just downright inconvenient, especially on a rainy night.
So if you are looking for a home, it is a good idea to make a list of all the things you absolutely need in your home – and another one that details only what you would like, but can do without. For instance, a Jacuzzi is not a necessity like having enough bedrooms to house the family is.
If you have pre-approval for your loan, it is a good idea to instruct the real estate agent to only show you homes within that budget. That way you won’t be tempted to go beyond what you can afford. Sure, we would all love to live in a house that costs two million dollars, but if your loan is for $400,000 you really do have to stick with that.
The area is another thing to think about. You might want to live in a particular area, but if that means you have to travel an extra hour each way to work, or the kids have to spend an hour or two on the bus to school it is really not worth it. The inconvenience of distance is something that needs careful consideration.
Your future needs are also important to consider. Maybe you intend to have children, so a one bedroom house is not going to be of much use to you unless there is a way to add another room. Getting a home with enough bedrooms is better in the long run; renovations can cost a lot and cause lots of stress.
When you take these considerations to heart when buying real estate, it is much more likely that you’ll end up with your dream home.