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Torn Between Two Houses? Things to Consider In Making the Tough Decision

     
August 16, 2014  |  Real Estate
Torn Between Two Houses? Things to Consider In Making the Tough Decision

So, you are now in high gear house-hunting mode. You have seen several properties, attended open houses, went house-hopping, and are basically BFF with your Realtor. It is sooo exciting! You can feel you’re almost at that point of finally saying, that’s the one!

You might overlook though the possibility (if you haven’t already) of finding two houses that you love. Equally. Insanely. Illogically. No amount of rational persuasion could convince you that nope, you can’t buy both. What to do then?

Making a final decision should be taken seriously. It’s a house we’re talking about after all. You may be feeling all flustered with butterflies in your stomach for having a house-crush on two properties at the same time, but it is a good idea to do away with emotions at this point and allow yourself to be guided by logic. Listening to your instinct won’t hurt either.

Here are some points to consider in choosing between two homes:

  • Neighborhood: Evaluate the pros and cons of living in each neighborhood, given that the two choices are located in different areas. If you have kids, that usually makes the analyzing of strengths and weaknesses easier. Does the neighborhood have a park nearby? Is it near good schools or at least in a favorable school district? If on the other hand, you have teenage kids or just starting out a family, being near the malls, restaurants, and/or entertainment is a good indicator. Middle and high schools are also paramount in making your decision. Check the streets too. Are they well-maintained? Is it a secure location? Is it an easy commute to where you will mostly go to, such as work?
  • Safety: As mentioned above, safety is so important you can never ever disregard this factor in choosing your home. Go to the local police or sheriff department and inquire about the crimes specific in the neighborhoods you’re eyeing. What are the most common crimes in the area? Ignorance may be bliss but definitely not when it concerns your safety.
  • Home Value: Ask your real estate agent to retrieve and provide you with information on the sales of homes in the neighborhoods where your Batman and Robin homes are located over the past years. If one area has an annual average of 10 percent increase while the other has say, 15 percent, well you may already have a tell-tale sign right there.
  • Home’s Marketability: Ask your agent how long each home has been on the market. Usually, the longer it has been active in the market, the better chance you have that the seller will accept a lower offer than the asking price. So this will be a bonus for you. On the other hand, if it’s a newly-listed home, the seller will most likely beat around the bush for a better offer, usually one that meets their asking price so offering a lower rate might be a disadvantage for you at that point. If you have a superb, go-to agent, he/she will also know pertinent information that will aid in your home buying process that is not in any way related to prices, loan documents, and all that technical stuff. Your agent will be able to provide you with information as to why the sellers are selling. If it’s relocation, job assignment or a divorce, then the sellers will want to move as quickly as possible. Therefore, you have a better shot at getting your offer accepted. Time is gold, as they say!
  • Personal Criteria: You thought this won’t make it to the list, didn’t you? Absolutely not going to happen! Just because it’s down in the list doesn’t mean it’s not important because if anything, your criteria or your family’s preferences are major factors in hitting the road for house hunting. What do you want? What are you looking for in a place you can call home sweet home? Heck, even the garage and backyard if they’re something on your wish-list matter! So go ahead and pore over your criteria. Have a discussion with your partner and see which ones can go and which items are non-negotiable. Think long term and not just what looks good now. That loft might look appealing, but what would that turn into if the house gets too big and empty when your kids go to college in 2-3 years?

You may not have the luxury of time now in deciding which house you’d like to have. The best you can do is toss a coin and decide now. You may be pressed for time because of a work assignment, a contract ending or in a market where homes get snatched up faster than we can spell “buy.” Perhaps those two homes you’re in love with are so loveable indeed that they are getting multiple offers left and right. A home buyer’s nightmare, a seller’s dream! Oh well, that’s the rat race in the real estate market.

So the best you can do really, is start the decision making NOW, no more procrastination. Evaluate with objectivity and honesty, and trust the instinct that kicks in every time you look at those homes. And of course, take into consideration your budget and your long term goals. The rest, there’s nothing that prayers can’t do or wishful thinking can’t inspire.

Best of luck in choosing your one true love!

 

About the author

The Blake Team is a full-service Real Estate team based in Aurora, Colorado specializing in working with Buyers & Sellers, foreclosures/HUD, short sales, and luxury properties. A team with years of experience and an impressive success rate that made it the No.18 real estate brokerage in the nation, as well as the No.1 Keller Williams agent in Colorado led by CEO & Founder Lisa Blake. The Blake Team is your No. 1 choice for getting your dream home!