Real Estate: Love Begins at Home

by on Real Estate Investing

Hands Make Heart Love Shape with Wood House

It is Valentine’s Day, and what better way to start off the day than talking about love and real estate. As the well-respected Mother Theresa said, “Love begins at home, and it is not how much we do…but how much love we put in that action”.

Love is very much a part of our lives and is also very much a part of the American Dream. The same is true when it comes to homeownership. Typically, the American Dream is to have the love of your life, live in a home, and have jobs that you love (and possibly have 2.5 kids with the mandatory white picket fence).

Each year as Valentine’s Day approaches, those in relationships become excited about sharing his special day while singles either go into hiding or actively seek to find a mate. Just as it is often difficult to wait patiently for Cupid’s arrow to connect you and your soul mate, it can also be tempting to purchase a property before closely inspecting what is under the roof.

This Year’s Crush: A New Home

We all know what it feels like to have a crush on another person. In fact, most of us probably know what it feels like to have a crush on a home. Like a real crush, when you have a crush on a property you more than likely stalk the property online – looking at photographs you have seen a hundred times and closely examining each update to pertinent information (such as the listing price).

We sometimes spend countless hours looking at our property crush and comparing it to other properties that just simply do not compare. We even create future plans for our home crush – what we would put in the living room or how we could utilize the extra bedroom. Just like when we are crushing on a person, we typically are wearing rose-colored glasses as we admire our house crush from afar.

Date Before You Buy

Sometimes we can become so focused on our property crush that we forget the importance of dating (or shopping around) before we sign on the dotted line. For example, there are incredible real estate deals on foreclosures and other distressed properties throughout Florida. If your home crush is in the area, then looking at other discount properties is pertinent before making your final decision. The last thing you want is to settle down in your new home and then realize you missed out on a better deal.

Get to Know the Home

When we have a crush, we often find ourselves infatuated and unable to take an objective perspective. In times like these, it is essential that you have a home inspector look at the property and point out any problem areas. The last thing you want is to move into your home and find out that you did not really know what you were buying.

Similarly, if your crush is a distressed property, then it is pertinent that you know what that means. For example, what is an REO property and how do you buy them? Understanding essential and basic information about the home you are crushing on is key to making sure that you are the perfect match.

In conclusion, if you have a house crush then rest assured that you are more than likely not alone. They key is to understand that since you are infatuated with the property that you are more than likely viewing the home with rose-colored glasses. Then, make sure you date around and look at other properties before you make your selection. Once you have narrowed down your choices, have an outsider (an inspector) look at the property so that you know exactly what you are buying before you sign the contract.