Most Dreaded Home Buying Challenges
When it comes to making decisions, especially about real estate, buying or selling a lot of things get in the way in life and making a decision. Just like when it rains and it rains for a couple of days, your whole schedule is thrown off. Your decision has been thrown off, but don’t let that happen to you.
In this video, I’m going to talk about a few things that can help you make a faster decision. and not let anything get in the way. This way you can take advantage of the current market whether you are buying or selling. Let’s say I was going to go hiking today or doing some carpentry work in my yard but it started raining today so I’m going to stop doing it or should I stop doing it?
Should I go for the hike despite the rain? Should I finish my carpentry work? Despite the rain. Similarly, when it comes to making a decision, are you ready to buy right now despite the market condition? Some people say, well, interest rates are so high. Some people say the prices are so high and they cannot make a decision.
And these conditions are stopping them from buying or selling. I’ve been told many times by my friends, by my good clients, they’re going to wait till the interest drops. They’re going to wait. Till the prices drop and that indecision that rainy day thinking has stopped them from buying and guess what?
They cannot afford the homes anymore because the prices have gone up in the last three years They’re still gonna go up interest rate went up from three percent Which they did not buy at that time despite us telling them to buy now The rates are seven percent or six and a half percent, so they cannot afford the home So they’re gonna keep waiting that indecision that rainy day thinking Stop them from buying and stop them from achieving their home ownership dreams.
Will that happen to you? One of the key things that can help you on a rainy day is making decisions and being prepared. Let’s say you were going on a vacation two weeks from now and when you go there it was raining and you checked a few days before it was going to rain. Did you take rain gear? Let’s say you were going to Sedona, Arizona or Hawaii.
It was going to rain. You take your rain jackets, you take your medications, you take warm clothes, whatever you do to make your trip successful. Similarly in real estate, when you are thinking of buying, whether it’s three months from now or a year from now, are you being prepared? Are you adapting to the market?
If the rates are going to go up, are you preparing for the higher rates? If the prices are going to go up, are you preparing for the higher prices? Knowing that if you buy now, it’s a better price than two years from now, because the prices are going to go even higher. So are you preparing or is a rainy day thinking on a rainy day like this, stopping you from making that decision, making that awareness, making that preparation, however far that is?
So the sooner you prepare and be aware and make decisions, the better off you will be in buying your real estate. Have you thought of the consequences of waiting an indecision? Does a rainy day thinking or a rainy day mentality stop you from making decisions and what is it costing you? The consequences are significant.
Let me give you an example with the price. Back in 2019, the medium home price in USA was about $357, 000. Rates were below 5%. In 2023, the medium home price went up to $430, 000. And the rates are 6. 5 percent today. So what a jump in price and interest rate. Did that indecision and did that consequences of inaction stop you from buying a house now because it went from $300 to $400 and the rates went from 4 percent to
- 5%? So did the rainy day thinking affect your lifestyle, affect your decision, affect of you being a home ownership? How much more are you gonna affect the rainy day decision making in your life? By no means, it’s a clear and visible day today. Obviously, the clarity is not there, the vision is not there, and there’s some obscurity.
Similarly, if you don’t have clear goals, clear path, clear decision, that’ll affect your buying decisions. Do you know when you want to buy a house? Do you know how much of a house you want to buy? Do you know where you want to buy? Do you know what your mortgage payments want to be? Do you know your credit scores?
How much have you saved up? What are you going to need? You must have a clear vision and clear path. Even on a rainy day, you can see through that. I can see the hills, the homes, the mountains, the sky, maybe not as clear as on a sunny day, but I can still see it. So to have a clear path, very significant, very important in making your home decisions.
It’s been raining for two days. I have buyers from out of town. They’ve been waiting for two days. And guess what? Today, I’m going to take them out to show homes. They are ready to buy. They want to see even on a rainy day.