05/12/23 | Kip Barnard
Let's embrace the adventure of finding hidden gems among the 'lesser' options. Let's celebrate the triumph of turning a modest house into a cozy home filled with joy and cherished memories. After all, life is an ever-changing journey, and the path we choose may lead us to unexpected wonders. Remember, it's not about what you have—it's about how you make it yours.
Picture this: you're a first-time home buyer, daydreaming about the perfect house that seems to elude your grasp. You find yourself faced with a collection of homes that fall short of your dream, the so-called 'lesser options.' Disheartened, you consider waiting indefinitely for that one magical property to appear. Sound familiar?
Well, my friends, this syndrome affects even the most seasoned home buyers. We've all been there, caught in the allure of perfection and procrastinating on important decisions. Dreaming big is fantastic, but there comes a time when practical reality beckons, and we must acknowledge it – or face the consequences!
We have all had buyers who yearn for an architecturally stunning home in a prime location. They crave spacious rooms, breathtaking backyard, and move-in condition. Sounds amazing, right? Except for one small detail: their desired home doesn't exist within their budget. Not anywhere. Not even close. Their expectations, though grand, are simply unrealistic, and the data supports this undeniable truth. Sometimes, we real estate advisors must be the bearers of reality, armed with tangible evidence to drive the point home.
So, what's the next step?
After the reality check, it's decision time. Will these buyers settle for the best of the 'lesser quality' options and fulfill their mission and agenda? Often, it's a sense of entitlement that clouds judgment and reality. They yearn for a Bentley but expect to pay the price of a BMW. They believe they deserve it all! Unfortunately, this kind of thinking is not just delusional; it also leaves you without wheels, stranded in the world of unfulfilled dreams.
Compromising during the home buying process is an experience shared by nearly everyone, regardless of price point or location. Consider it a rite of passage. Life is all about dealing with the reality we face, head-on. The question becomes: Are you better off buying one of those 'lesser' homes and transforming it into the best it can be? Or would you rather wait for prices to drop to a more affordable range, risking the possibility that your dream home may never materialize, all while you continue to pay rent? Are you willing to hit pause on your life for an undefined, unpredictable period? And let's not forget how inflation can nibble away at your buying power—every percent adds up over time!
Sometimes reality sucks. Life isn't always fair. We all have to come to terms with this unavoidable truth. Even Jeff Bezos himself had to face some setbacks – his penthouse in Manhattan lacks those sweeping views and requires a massive ($90 million) renovation that could take months. We all experience varying degrees of 'suffering' when we don't get exactly what we want, precisely when we want it. It's all a matter of perspective.
So, dear readers, let's embrace the adventure of finding hidden gems among the 'lesser' options. Let's celebrate the triumph of turning a modest house into a cozy home filled with joy and cherished memories. After all, life is an ever-changing journey, and the path we choose may lead us to unexpected wonders. Remember, it's not about what you have—it's about how you make it yours.