The question posed to me all of the time is the (dreaded) "appreciation" question. "Mimi, what do you think this home will be worth in 2 years?" UGH! Gee whiz! With all of the drastic changes in the marketplace over the past few years...heck, the past few months(!)...who can say with any certainty that your home will appreciate enough in 2 years to pay the selling costs??
Don't get me wrong, appreciation is important. Your home will be one of your greatest assets and a cornerstone for personal wealth. (If purchased wisely, with a solid mortgage...THAT YOU CAN AFFORD TO PAY EVERY MONTH.) But, what I notice more and more is that buyers seem to have forgotten that the house they are buying will be their HOME. It will be the place they wake up every day, and go to bed in at night. It will house their memories of birthday parties, gatherings with family and friends, Christmas and Thanksgivings. It is the vessle that holds family and friends. If you are lucky (like me) you will be surrounded by great neighbors who become lifelong friends.
Getting the housing questions back in line is the challenge of today's real estate agent. Instead of asking how much money will my home provide for me in the short-term?
Ask yourself these (long-term) questions;
Is it a wise purchase, is it a solid loan, can I afford it?
Is this a neighborhood that I want to be a part of?
If this is my home for the next 5 years...does it suit my foreseeable needs?
Is this the place where I want to build my memories?
Let's get back to the basics;
When buying a house, you are NOT buying a bank, and (more likely than not in today's market) you are NOT buying instant equity....
You ARE buying...a HOME, a neighborhood, a lifestyle, a refuge and a long-term investment.
As far as the (UGH!) "appreciation" question goes...I have to answer...will this HOME "appreciate" your LIFE in the areas of personal happiness, freedom and family? Well, if so, than you are already RICHER because of it.
Live Good. Be Happy.
-Mimi
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