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Do Not Let Your Emotions Deter Your Home Buying Decision

Did you know that 80% houses are bought on “emotion”? It seems a little scary to make one of the most important financial decisions of your life with “emotion” as a factor. One of the best ways to significantly reduce this “emotion” factor is to hire a real estate professional.

We tend to let our emotions take over when we walk into a beautiful home that seems to be perfect for the buyer and/or their family. It feels comfortable, is the right size, has the bedrooms or extra rooms we are looking for, and seems to be reasonably priced and so on.

If you have a family with children, schools are an important part of your purchasing decision. It is very important to follow the knowledge that your real estate agent provides you. Go visit the school where your child would be attending. Talk to the Principle, look at test scores and most importantly check that the school boundaries are not going to change anytime soon. School boundaries change in an ever-growing city or community.

Here are some concerns you should also consider that could affect the current or future value of the home. These all play a role in location, location and location. They could include:

1. Power Lines

2. Airport Noise

3. Privacy of the yard

4. Major or Internal Road behind the property

5. Sun exposure of the property

There are many other things to consider that your real estate agent should bring to your attention. You should be provided with a brochure that will address any other concerns you might have, such as crime, pest infestation, mold, etc.

Of course not paying above market value is extremely important. The buyer is usually protected by the appraisal. If the home is worth less than your offer, then you can renegotiate the contract with the seller or walk away. Be sure to review the comparable sales that your agent will provide you with. Make sure the recent sales are in the immediate vicinity, no more than 6 months old and are similar in square footage and bedrooms.

All of this information is a lot to take in and another reason why you should hire a real estate professional. Make sure the real estate agent is professional and exclusively represents YOU, the buyer and not the seller. Make sure they have years of experience in real estate. Look for real estate agents with designations such as ABR (Accredited Buyer Representative) or CRS (Certified Residential Specialist). This is a good sign that they have that experience.

Buying a home should and can be a very pleasant and stress-free experience. You should be emotional and excited but be thorough in your decision making.

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