Buying a House in Today’s Market
By Dean Workman
Buying a house or houses in today’s market is simple… Well, so the media would suggest. Apparently there is a bargain to be had on every corner. The simple response to the above statement is “yes, and no”.
Like most things in life, if you know exactly what you want you are certain to find it. The same applies to Real Estate. Setting your self specific guidelines as far as location, type of house, neighbourhood, the numbers and price range are crucial to your success. One of the rules I live by when it comes to real estate is this; “we don’t buy puppies, we buy properties”. Yes, you got it… the key is, never get emotionally attached to an investment property.
Why? Ever brought home a brand new puppy? With their big puppy dog eyes and cute little features, it is easy to fall in love with them isn’t it. However, once we get them home (take ownership) all the cute things come into perspective. We then start to see the real issues. Digging in the garden, messes that have to be cleaned up, poop everywhere, and the constant maintenance issues… perhaps it costs more than we could afford, the list goes on.
It is very important not to lose your perspective. If you can establish your rules and game plan before you start to invest, you are miles ahead of every other investor.