Moving is exciting! A new house, in a new neighborhood, with so many things to do.
But wait… first there is the home inspection.
It’s been three hours. Standing in the cold, waiting patiently, listening to your inspector rattle off a never-ending list of bad news about the house that you were sure was THE home of your dreams. You’ve heard how the roof could leak tomorrow, or in five years. Intricacies of the electrical system flowing from your home inspector as you nod, pretending to understand most of it. Asbestos, knob and tube, grading, grounding, PVC, PEX, GFCI, and 15,000 other words you may have never heard before. As you walk out the door, the question hangs over your head like a dark cloud.
“What do I do now? Do I buy this house or keep looking?”
I always tell my clients to ask themselves two questions:
- Is this house worth TO ME what I am paying for it?
- Is this house a project I am WILLING, ABLE and can AFFORD to take on?
That’s it. Ask yourself these questions completely independent of one another. Talk with family and friends. Go back to the house the next day. Read over your home inspection report. Just keep these questions at the forefront of everything you do until you make a final decision. Remember, all houses are projects!
You should get a yes to both questions, even if each one is not a solid, firm yes. After all, there is always going to be some inherent risk and a bit of a gamble with any real estate purchase. If NO is the answer to either question, it may not be the house for you.
“If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” — Steve Jobs