Fast Food – Fast Houses
We live in a fast-paced society. Fast food, fast cars. Some people get pets on a whim and then once they realize the cost of time and money, they give them back. Others get into business relationships and get out after they realize the red flags were there from the beginning, but they didn’t pay attention. The same thing happens in real estate. I’ve had clients “want” to sell their house only to come to me after an offer is received, having second thoughts. I’ve had other clients that “have to have” this house but get cold feet once the reality of the costs sets in.
Some people will tell you that it’s never too late and that it is a good thing you figured it out before making a big mistake. Yes, that is true. However, it is MUCH better to be sure BEFORE you get into the situation. Have you ever dated someone and thought later, “Wow, there’s 6 months of my life I’ll never get back”? When you get into real estate deals, you are not only wasting your time and energy, you are putting others in the same position. There are many people and expenses that are involved.
That being said, one of the most unfortunate things I’ve seen is people who buy a house without much forethought or due diligence and sell it less than a year later because they didn’t think the whole thing through. They not only waste their time and energy, but a LOT of money. They have closing costs, real estate commissions, loan fees, and moving expenses that all could have potentially been avoided if they would have slowed down enough to make an informed decision.
Does the house sit near a train track and you think it might be no big deal? It might not be, but if you are a light sleeper or you have a dog that barks at every little noise, you might want to re-think that purchase.
Is the house a dream house but far from work or the conveniences you are accustomed to? The drive might not bother you at first but when you forget something at home or need something quick from the store for the recipe you are making for guests tonight and have to go back, it might be less than desirable.
Have you always thought you wanted the charm of an old house? The charm is great but so can be the expense of maintaining it. If you have the money, time, and it is worth it to you, it could be a perfect fit, however, if either of those is scarce, you might consider a newer home built to have some of the old charm with the modern amenities and materials.
The list goes on and on. The main idea is, slow down. Do your due diligence. Talk with your Realtor about why you are wanting to buy or sell, your lifestyle, and your future plans. They can help guide you as to when and where to make your move. The purchase or sale of real estate is typically your biggest investment. Make sure you are handling it wisely.
Michelle Froedge is a residential Realtor and Principal Broker in the Greater Nashville and Williamson County areas of Tennessee. “Mom” to four-legged fur babies, Tyler and Livvie, Auntie to Zelamie, she is a vegetarian and sings in her spare time. Michelle has lived in Nashville and Franklin since 1997 and has been selling homes since 2004.