Why is this the right time to buy a home

December 26, 2017

Fernwood Square's four corners

The title of this article is the answer to the question that thousands of potential home-owners ask themselves every single day. In all fairness, who could blame them? The fact of the matter is that the house that one buys, no matter if it’s the first time they do buy a home or if they have been through the process before, is as important a decision as anybody’s ever going to make.

With that said, it is also not uncommon to see potential new home-owners getting cold feet because of a plethora of reasons. Maybe they think that the market is not at the place where they think it could be, maybe they think that the timing isn’t right or that the house is too big/small/perfect (yes, I’ve heard that reason used before and more than once) for them. These alongside another big number of similar complaints get in the way of a family getting the house keys handed to them.

It is unfortunately also all too common to see a family who let a property go change their mind after having thought about it for a while longer and the property no longer be available at that moment. That’s when the regret of not having acted sets in which makes for a very unpleasant time for the individuals and their families.

In some situations, it gets to the point that the regret is so big that the property becomes almost like a prize to the prospective home-owner who missed out, they end up getting in touch with the person who actually bought the property and have to negotiate intensely to have the other person sell them the property that they could have bought for a much different price.

At that point, it’s not only about the act of having missed out because they thought that it wasn’t the right time, market or any other similar factor, but it’s also about the fact that they will have had to pay a premium for making the decision earlier.

If we take a closer look at the reasons that people commonly give when they get cold feet about buying a property, which I have outlined above, you will notice that it really doesn’t have to do much with the property or properties themselves and much more to do with them thinking that there’s going to be another, better chance to snap up the home of their dreams.

The fact of the matter is that this kind of notion rarely ends up being true. In fact, it almost always ends up working against the person or family looking to buy a home. If you’re thinking about taking a look at new properties, I would recommend that you go on your search with intent.

No, I’m not recommending that you go and buy the first property that you come across (unless you feel it’s the right call) but that you get out of your own way and allow yourself to be happy with the purchase that you will make after having looked at the right amount of properties.