Do You Really Want to Buy a Home?
by William Metzker on February 26, 2010
Check out this video on You Tube on home buying and other financial stuff. Funny, and so true. I got it from a favorite Inman News columnist, Robert Hahn, who’s asking some serious questions.
At what point does a real estate agent tell a client that now is NOT a great time to buy? How many of us ever run the rent-vs.-own analytics? How many repeat the mantra that a home is a good investment over the long term?
The fact is, if you’re not going to stay in a house at least five years, and preferably more, keep renting.
We can run clients through the numbers. It’s hard, in a way, because no one knows how the market will fare. But it’s still a useful exercise.
Also, it doesn’t take the emotional part into account. People dream of owning real estate, and when they do, it makes their neighborhoods more stable, the schools better, etc.
But I thing real estate agents should go through all this and honestly talk about amortization and inflation, occupancy costs and other factors. I think it creates authenticity and trust.
Do You Really Want to Buy a Home?
by William Metzker on February 26, 2010
Check out this video on You Tube on home buying and other financial stuff. Funny, and so true. I got it from a favorite Inman News columnist, Robert Hahn, who’s asking some serious questions.
At what point does a real estate agent tell a client that now is NOT a great time to buy? How many of us ever run the rent-vs.-own analytics? How many repeat the mantra that a home is a good investment over the long term?
The fact is, if you’re not going to stay in a house at least five years, and preferably more, keep renting.
We can run clients through the numbers. It’s hard, in a way, because no one knows how the market will fare. But it’s still a useful exercise.
Also, it doesn’t take the emotional part into account. People dream of owning real estate, and when they do, it makes their neighborhoods more stable, the schools better, etc.
But I thing real estate agents should go through all this and honestly talk about amortization and inflation, occupancy costs and other factors. I think it creates authenticity and trust.