Do You Think It’s The Right Time For You To Buy?

I was a first-time home buyer about 25 years ago. I had no idea then what the market was like or what it meant to even consider things like that. In hindsight, I realize now that it was . I was naïve, uniformed and didn’t have any representation. This was back in the days when real estate agents were either agents or sub-agents of the seller, and buyers had no representation and it was definitely “Buyer Beware” .

I did know that I wanted the security of owning a home even if it was just a condo. I was fed up of moving, sick of paying rent, and really finished with the idea of having the stability of my home life dependent on landlords roommates and their tag-along girlfriends. I had realized that I loved Boulder and didn’t want to leave and felt a strong need to settle down and firmly plant myself. On both a personal and financial level it seemed to make sense to me that I take this big step.

The condo I bought appreciated about 200% and eventually selling it enabled me to move up to a single family home which was a big need once I had kids! I didn’t know that it would be a good investment and there were years where it seemed that I’d see little or now appreciation (oh the late 1980’s and double digit interest rates…) Fortunately, it turned out to be a great investment and even the subsequent home I purchased has turned out to be a good investment also in terms of appreciation, tax benefits and lifestyle advantages. At the time both purchases seemed expensive. In hindsight each of these moves were great investments. I think focusing on the future and planning for it with clear goals got me out of the fear head space and into the excitement phase. I was very excited about where I was going and less concerned about where I had been.

These days, with so much info at our fingertips, buyers are more well informed than ever; and in many cases this makes my job easier as I can focus on representing my client’s interests more carefully and they get a better handle on their ability to be a participant in the process of finding their new home. There’s lots of contradictory real estate information in the media and much of the inflammatory commentary is at best hyperbole if not outright fiction. As we know, sensation sells so I don’t blame them for getting excited but we need to be sure that we’re digesting the info properly and judging the sources properly. Is there a bubble, or is the housing market stabilizing to a healthy balance? When the media addresses the national housing situation, how does this information apply to our local boulder real estate market? Are people guided towards bad info and left to be scared unnecessarily?

When buying a home, there are no guarantees, just as there were none when I bought my first condo in downtown Boulder. We have to live with terrorist attacks, hurricanes, tsunamis, and massive fires depending on where we live. Uncertainty is everywhere. But, we need to look at what we can actually control and take action to move our lives in the direction that we envision to bring our goals to fruition.

Just ask yourself the simple question: ” Is it the right time for you to buy a home”?

Home or Investment? Want to have control over your next few years or be forced to move again? Concerned about room for the new addition to your family, need a place for the kids or the dog to play outside? Sick of being at the mercy of ever climbing rents? Do you want the tax advantages home ownership can provide?

Move with your eyes wide open towards home ownership and do your research when you purchase a property. You must look at your personal priorities and give them as much weight as anything you learn about the market. Get your agent to be a ‘Buyer’s Agent’ so that you have an advocate and have that person get you the straight dope on what’s really going on.


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