Home Buying without Anxiety Part 2: Dreams and Contingencies

When you were little, did you ever dream about what your house would look like when you were a grown up? I went through a phase where I was obsessed with living in a hot pink house. I’m a little fuzzy on what I wanted in the house, but I knew for sure it had to be hot pink.

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Thankfully as I aged, my tastes changed in terms of what I was looking for in a house. After living in a one bedroom apartment, I had a few items on my dream list. After finding a great real estate agent, I began making a dream list of what I was looking for in a house. One of the big ones was a 2 basin sink. My apartment kitchen only had a one basin sink, and very limited counter space. After living there for almost 6 years, I was adamant that the house we were to buy would have ample counter space and a two basin kitchen sink.

Maybe these will be on your dream list. I recommend dreaming big, then crossing off the items that, while it’d be nice to have, you can live without. For me that was a bay window. I LOVE the way bay windows look, but is it really essential to a working house? No.  Maybe as you make your dream list, make two columns. On the left put down essential items such as updated wiring and lead free paint. On the right, go extravagant; list fun items such as a 4 car garage and guest house in the backyard.

After writing your dream list and settling on one or two houses you like, it’s time to make an offer. During the process of writing your offer, this is the time that you write your contingencies. Contingencies are items that you include in your offer that need to be done by the person selling the house in order for you to buy. For example, there may be outdated wiring that needs an upgrade. Or you may want them to repaint a room. It’s also a good idea to include a clause in the offer contract that states you can back out of the deal to buy the house if the home inspection-the next step-fails.

These are just a few ideas and strategies you may use when purchasing your dream house. Put them all together and your experience will be almost anxiety free.

Remember you are not alone in this process.

Cheers

*photo courtesy of http://i.dailymail.co.uk/i/pix/2013/12/01/article-2516422-19B7B97100000578-351_964x862.jpg

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