How to Stay on the Real Estate Beam

July 17th, 2008 categories: Cincinnati, Ohio, Fairfield, Ohio, Liberty Township, Ohio, Real Estate Buying, Real Estate News, West Chester, Ohio

First time home buyers looking at homes in Liberty Township wanted to know if they were making a good investment.

Fair question- unfortunately there isn’t a straight forward answer.

If the only reason for purchasing property is to sell it for a monetary gain- there are no guarantees.

Buyers need to step back and take a balanced approach to purchasing property.

Learn to think like a gymnast approaching a balance beam.

Everything has to be in balance or the results can be disastrous. If you thinking about jumping into the housing market ask yourself the following:

If you are purchasing (rather than renting) because you want a fixed payment (knowing that property taxes/condo fees are not fixed)
Tax deductions- you have looked at the mortgage interest deduction and will come out ahead with a mortgage vs rent payments
You aren’t terrified of home maintenance- or can afford to pay to have needed repairs completed
You are ready to call someplace “home” and need more space
Knowing that if you purchased today and then sold the property in 3 or 4 years and broke even financially- you would still feel like it was a good investment?

If you answered yes to all of the questions- then you are probably ready to consider buying real estate. However, if you have been watching late night infomercials touting how smart investors are making a gazillion dollars in today’s market and you are positive that you are the next one to strike it rich- maybe you should delay buying.

Buyers using a balanced approach, taking one step at a time on the real estate balance beam, usually end up winners.

Whether you are a first time buyer or move up buyer - once you have decided that buying property makes sense for you-take smooth even steps across the
real estate balance beam.

Questions -or if you need a “coach” call or email.