DO NOT BUY A HOME THIS YEAR is for one specific buyer only. I am not suggesting that no one should buy a home. Let me tell you which buyer I am talking about and why?
I am consistently finding myself standing alone on a island when it comes to being a real estate agent. We make our living off of selling homes. We don’t sell, we don’t eat. However, the primary objective when you are in any service industry is to provide expert advice and service for your client. The service comes through achieving their desires and needs. You receiving a paycheck would be a bi-product of that service.
We are all guilty of stereo typing certain professions. Car salesmen, Realtors and Insurance Salesman are often referred to as “slimy, or greasy.” These stereo types often suggest that they are looking for a quick buck. Let me break the cycle for some of you cynics out there about Realtors by following my advice this year. There is one reason that I would tell my clients not to buy a home this year. I can help you by asking one question?
Do you have a down payment?
If you do not. Please listen to me. “DO NOT BUY A HOME THIS YEAR!!!!!” If you do, I promise you will be in for a world of hurt in the next 5 years. Let me tell you why. The market has picked up and is on fire currently. Buyers are over borrowing and over paying for properties during the month of January. The fallacy is young buyers are assuming that their homes value is going to go up irregardless of the price they pay. It is not. We only have to look back over the past five years to see what can happen when the market slips even 10%. People with zero down payment are under water over night.
Be smart. If you are buying a home, the chances are it won’t be your last. Get the information you need to avoid a heartache in the future. We will see short sales come back to the market in another few years because young buyers are over paying and not putting any money down. When you don’t put money down on a home purchase, you have nothing invested. I would compare it to getting a brand new car when you’re sixteen. The fact is they can’t really appreciate it. You won’t take care of it the way you would if you had of paid your own money for it. I have seen the same thought process with too many clients that bought a home with zero down payment. It won’t end up well for you.
So remember, I am the Realtor that will stand up and tell you- DON’T BUY A HOME THIS YEAR IF YOU HAVE ZERO MONEY FOR A DOWN PAYMENT!!!!!!!! YOU WILL GET INTO TROUBLE AND I WILL HAVE TO SHORT SELL YOUR HOME FOR YOU IN 3-5 YEARS.
Please respect that this is my opinion. I get paid to do what I love as a Realtor because I actually help people. I teach them the pitfalls of home buying. I hope you can make a plan and save and when the time is right, you can buy a home and love it.
Let me know what you think. Follow me on Instagram @bradytannerhomes
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