What’s Love Got To Do With It?
In real estate, what’s love got to do with it? Well, everything and nothing. I have helped hundreds of people buy houses who have fallen in love with “everything about it” only to sell it a few years later. So what gives? Did they really not love it in the first place or did one of them change? Here are three things to consider when falling in love with a house.
- Things WILL change.Neighbors will move in or out so the ones you adore today, may be gone tomorrow and the new ones may not be as desirable as the previous ones. The big tree that shaded you during those hot summer days could topple in a storm. Make sure your love isn’t conditional or you may fall out of love at the first sign of “trouble.”
- You have to maintain it.It may have looked like a model home when you first saw it. You may have heard angels singing in your head. Who is going to take care of cleaning it, changing lightbulbs, pulling weeds, unclogging drains, replacing the HVAC unit? You are. Or you will need to pay someone. Either way, it’s your responsibility. Will you still love the house if/when it costs you thousands of dollars?
- You may have to leave.Unexpected things occur. You may get married and your new spouse doesn’t have the same feeling toward the house as you do. You may get divorced and have to leave it behind or sell it. You may outgrow it. If you grow your household and have children or animals, they may require more bedrooms or a bigger yard. You may have an injury. If the bedroom is upstairs and you can’t easily navigate stairs, will you sleep on the couch forever?
We throw the word love around so easily. But when it comes to real estate and one of the largest investments most people will make, there needs to be more than love to help make your decision.
- Does it meet your needs? Does it have the number of bedrooms and bathrooms you require? Does it have a floor plan that works for you? Does it have the outdoor space you desire?
- Is the location convenient? Do you see a job change in your future? Will that make the commute unbearable? Is it near the places you already frequently visit?
- Will it require more time/money than you have or are willing to spend? There is nothing worse than being excited about buying a house and then being house poor. Not being able to go out with friends or take vacations because your house costs you too much money is not a life most want to live.
When making that big decision, be sure you are being objective. Before you start looking at houses, make a list of Needs, Wants, and Deal-Breakers. When you start to fall in love, take out your list. If it doesn’t mark most of the wants and needs or if it checks any of the deal-breakers, move on. You don’t want the headache and the heartache of making the wrong decision on impulse. What’s love got to do with it anyway?
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.