Falling in love can be a wonderful thing. It enables you to see the inner beauty of another person and it makes you happy to be alive. But falling in love can also be a bad thing – it can blind you to someone’s faults and make a fool out of you. In much the same way, when a first-time home buyer falls in love with a house, it could be their worst financial mistake, especially if they stubbornly ignore the sound advice of experts.
Some people seek out homes they feel an emotional connection with. That’s fine, but you should still be careful when you find your “dream” home. Think about how you’re going to feel when the honeymoon phase is over. You might ignore its idiosyncrasies now, but as a first-time home buyer, you may suffer remorse when you have to deal everyday with creaky floorboards or a cramped kitchen.
Falling in love with a house could also blind you to its value. You could find yourself making an offer that far exceeds the real worth of the property, resulting in a bad investment. Also, if the seller or the seller’s agent is aware of your infatuation, they’ll know you’re happy to overpay and take advantage of you.
Ultimately, a first-time home buyer should keep an open mind, a cool head, and be ready for the worst. It’s often said that Murphy’s Law could well have been written for home buyers – if something can go wrong, it will. Never disregard the advice of an experienced real estate agent.