It is somewhat surprising how often we meet clients who seem to be entering the real estate market on a whim, but it happens much more frequently that most would expect. There are many implications relating to this, of course, and sometimes these clients are simply fortunate enough to have the kind of disposable income that makes it possible to make such purchases without much thought. However, we also encounter prospective buyers who are working with limited budgets but still have not really done much research on what is very likely to be one of the most sizable investments of their lifetime.
It is our duty at 673 Harbor Real Estate to impart our real estate knowledge to our clients, but it is imperative that clients have a clear understanding of what they want out of their home before they make the decision to buy. We strongly recommend that clients thoughtfully consider the most ideal home based on both their current and future needs, as the most common mistake we see among buyers is the failure to consider the changing dynamics of their household needs.
Buyers should do their very best to determine what their household needs will be in the present as well as the future, so we recommend buyers attempt to envision their needs in five-year intervals through the end of their mortgage. There are clearly scenarios that cannot possibly be planned for, but this exercise can be quite helpful in ensuring the home that is ultimately purchased will be flexible according to the changing needs of its owners.
In real estate, a little bit of homework can go a long way. If you are planning to buy a home sometime soon, make sure you do your research and clearly understand what you want out of your home, both now and in the future.
