Is a new home REALLY what you want?

I have been doing a lot of reading.  I am constantly trying to improve what I have to offer my clients.  Because I want to know that they are being taken care of to the best of my ability.  In order to do that I need to be educated so that I can offer that same education to those I work for.  I feel that it is so very important for my friends to be able to make informed decisions.  So, what is the best source of information?  Yourself.  "But I don't know how many months of inventory are on the current market. And what is an absorption rate, anyway?"  Those are good questions.  Even better questions to ask yourself: Why do I want to move?  What is it about my current situation that I am trying to get away from?  What goal am I trying to fulfill by making a potentially tedious and risky transition into a different house?  Why does it have to happen for me now, or in the next year?

Answering these questions honestly and personally will give you a foundational understanding of your own goals and how your personal desires can be met.  And make sure to dig beyond your initial response.  For example:

Q: Why do I want to move?
A: I want a bigger place. (Common initial response)

Well I know a family of six that was happy in a 2 bed 1 bath apartment.  So why do you want a "bigger" place?  Maybe you feel that you could keep it better organized.  Or you want to provide more space for your children during too cold/too hot weather days.  The last thing I want for you is to buy a house just to end up realizing that if you had addressed your real concerns you could have gotten something that would have been more fulfilling overall or possibly simply updating your current home with the money you have saved for a down payment. 

I had a client in Fresno back in 2007 who was moving from L.A., he was transferring for work and was used to an hour commute.  He told me that he wanted a newer house with a pool and so much square footage. Well, all the newer homes were on the outskirts of town and they did not have pools.  I showed him a couple of those and told him about some older homes that had pools, were closer to his work, and well within his budget... numerous times.  He was convinced that the 2 year old house 40 mins from his job was a great value at $350K.  To this day, I wish I would have done less talking, more asking and just SHOWN him what I KNEW.

A little over a month later, the poor guy was calling me back telling me how his friends and coworkers live only a few minutes from work in great older communities with pools! For $70K LESS than what he paid!  I learned a lot from this experience. When I am hesitant to respond to a client's initial reaction to buy, it is because I have a different perspective. Yes, the commission check was more for me with the higher price tag, but that doesn't compare to how it would feel knowing I truly gave him what he needed.

When you are contemplating a move, sit down and outline why you want to move, what a move will accomplish for you as a person, and as a family, and consider if home renovation may answer your solutions better than moving. Take your time to really understand your priorities, needs, and wants.  Sharing this information with your realtor, hopefully me, will really help the process of finding you a solution and a home that fits your family perfectly.