Posted on 16. July 2010 02:35 by qmiskini

"I Love my new home."  Those words are music to every real estate professionals ears.  But singing those words the week after you've moved into your new home and singing them again after you have been living there for a year are very different songs.

Buying a home, whether it is your first home or your 10th home is a process, not an event.  The Realtor you select to guide and assist you must be operating with that clearly in mind or else your Realtor is just trying to make a sale and not guiding you through an often emotional time.  But as much as buying a home is a life choice, it is also a business venture... yes a business venture. You are committing to tens of thousands, often hundreds of thousands of (and occasionally a million or more) dollars of long term debt.  That means that your long term asset will be a long term liability until it is fully paid off or returns a profit (equity) when you resell it. 

That means your home - for all the emotional and practical reasons you purchased it - must love you back.  That means your choices like area or neighborhood or sub division, schools, distance to work and transportation, shopping, recreation, friends, relatives and more, all the elements of life and lifestyle your home provides proximity to and "sanctuary from" should be considered when choosing to purchase your next home.  The size, the style, the floor plan, the age it's condition and more are important factors in your purchase.  And it's value - are you making the best possible use of your hard earned money because buying a home is an investment in your future as well as where you are living today. That too is an important part of the home buying process.  Although no one can accurately predict a property's future value, your Realtor can provide you with a well researched history of a property and the area it is in. The research along with the experience of living through the cyclical ups and downs of the economy and its effect on your local communities can give you a perspective that can aid you in your decision making.

Buying a home is exciting. Loving it when you move in and remembering it fondly after you've sold it and moved on - two great songs!