When Buying Real Estate – Remember These 3 Key Truisms

Be realistic.  We all want things, I have looked at a 50 inch flat screen TV more than once, but I know I can’t afford it so I leave it. Being honest about what you can afford is vital when it comes to looking for houses.A mortgage is such a long term commitment that if you buy something that stretches your budget to much it is going to be doing so for a long long time. It makes for a much happier life if you are not worrying every single day about your mortgage payment.Just because you cut down on the amount of money you can spend it doesn’t mean that you wont be able to buy a house that is beautiful and makes a lovely home for you and your family.One: Expand you search areaWhile you may have a specific area in your mind for your next home, if you expand that area just a little you can bring a large number of extra houses into your search.Two: Decide what you need vs. what you wantMy brother in law always wanted a house with a shop, now he has one he never uses the shop. Be careful that you are not adding things to your wish list that you don’t really need and will never get the use from.Three: Get ready to sweatIf you are prepared to paint and do some basic repairs you will multiply the amount of homes in your range. A 3 bedroom house that needs some tender loving care may well be the same price as a 2 bedroom home that is spotless. While it may not be your idea of fun to have to paint and clean your new house if it allows you to get the extra bedroom that you need then it is worth it isn’t it?