OK, you're buying a house. First, take a deep breath. Hold it, hold it ... now exhale. Aaaaah.
There is a story I heard about a couple who were so distraught over trying to buy a home that on the evening before their latest (of many) home search trips they began drinking wine, began worrying, continued drinking wine, and continued worrying until well into the night. The next morning when their real estate agent picked them up, they were so hung over that they wanted to get the ordeal over as quickly as possible. The bought the first house the agent stopped at that morning—and for years agreed it was one of the best decisions they had ever made.
Yes, buying a house is a big decision. Yes, it's an expensive decision, and yes, it's definitely an adult decision. But there is no reason for you to sit there wringing your hands wondering: What if I hire the wrong real estate agent? What if I get the wrong mortgage? What if I end up hating the house? What if I pay too much?
Don't worry so much.
The good news is that you are in charge of this deal. Nothing is going to happen until you say it is going to happen. (Congratulations!) Of course, that's also the bad news. If you screw this thing up, you're going to have no one to blame but yourself. But there is every reason in the world to keep a positive attitude here, and to release some of that anxiety.
What if I hire the wrong real estate agent?
Some people may feel they've hired the wrong agent for whatever reason, even if it's their own mother. With the exception of your mom, however, if you've hired the wrong guy, you can fire him and find someone else. It does happen.
What if I get the wrong mortgage?
Today, mortgages are pretty easy to change. In the old days your options were a 30-year, fixed-rate mortgage from a bank with a blue sign out front or a 30-year, fixed-rate mortgage from a bank with a red sign out front. Today, you can almost write your own package. If you want something different, check around.
What if I end up hating the house?
First of all, you won't end up "hating" the house, but once you move in you are going to find things you don't like. You are going to find surprises. Everybody does.
What if I pay too much?
There are four words that a real estate agent has never heard spoken: I paid too little. If it turns out to be the worst decision you ever made, you can always sell the house.
The home-buying process is rarely that traumatic as long as you hold on to four fundamental concepts:
1. Trust the process.
Yes, there will be bumps and curves, but basically the entire multitrillion-dollar real estate process has been built for the sole purpose of helping you find and buy the best home that you can afford. Roughly 99.999 percent of the professionals in real estate are honest, hard-working people who are no different from you. They don't want to screw you. They want you to be successful because that's how they get paid. There are liars and thieves in all businesses. We're going to try to avoid them by asking the right questions. Again, trust the process.
2. Keep a quality professional on your side every step of the way.
I like the idea of working with real estate experts and I am going to promote that idea to you. If you can find someone you trust, you'll be able to work with him or her on this transaction and on other transactions in the future. Whomever you deal with in the real estate process, it is always appropriate to ask for credentials.
3. The more you know about a house before you buy it, the better off you're going to be.
There is nothing more important in a real estate purchase than the seller's honest disclosure of any problems with his or her property. Very rarely will a seller fail to disclose or try to hide those problems, because there are laws in place to protect the buyer. Not to mention all the other checks and balances.
4. Learn as much about the neighborhood as you can before you sign anything.
You are about to see that great home-buying success is available to you. Yes, you.
All you have to do is step up and say, "OK, let's do it."
