When is a Deal not a Deal?

So many buyers, especially first-timers, are out looking  not so much for a house, but for a house that’s a real deal. And many assume that a “deal” equals a foreclosure.
But not every foreclosure is a deal.

“A foreclosure is not a deal when:

– The cost of repairs and the price of the house exceed the home’s worth.

– You don’t have the cash, talent, and/or time to fix it up.

– The house doesn’t ‘fit’ your needs; it’s not practical. It may be too small and/or not have space for your beloved hobby, whether it is beer-making or model trains or crafting or gardening. And do you really want to give up the hobby that gives you so much enjoyment?

– You just plain don’t like it. Remember the winter coat that was really un-flattering and downright ugly but you bought it because it was so cheap? You disliked it so much you never wore it … and what kind of deal was that?

– It’s such a good deal that you figure you’d better buy it now, before someone else does. (The Number One rule I tell every buyer I work with:  Don’t buy a house because someone else might; buy it because it’s right for you.)

There will be another deal, one that will fit your needs and wants and budget. And it may not even be a foreclosure: a ton of great houses at great prices are out there to fit practically every budget. Remember, this is the biggest purchase you’ve ever made, and that payment will be around for … well, about 30 years. Choose wisely.”

These are the questions I go through with each of my buyers to make sure that you get into the home that is right for you.

Looking forward to doing business with you.

Thanks Kathy Novak for the article.