Oh if I had a nickel for every time I have gotten this question. And it's legitimately the most important questions, as well one of the first ones, you should ask. For the person asking the question, it is a very difficult one. For me, it is one of the easiest questions to answer.
I always tell my clients that their real estate endeavors should be guided by what I call their "life changes". These are (you guessed it) changes in their life that changes their needs for housing. These include such events as:
• marriage/divorce
• having a baby/kids moving out
• needing a good public school
• income going up/income going down
• Inheriting money/ losing a lot of money.
These are the types of changes or catalysts that should guide you through your real estate purchases and sales. Wrong reasons have a lot to do with what a person wants with a sprinkling of ego and include:
• I want to impress people/colleagues/girls
• I want to buy a house to make money
• I want to live in such and such an area
• I want a bigger house
• All my friends own houses
You will notice that the "good" reasons all are in reaction to changes in your life which change your needs, and the "bad" reasons are all in reaction to what a person wants. This may seem obvious now that I have said it, but it is a simple litmus test to see if you should even begin to investigate buying (or selling) a house.
By Jason Reitz
PressSearch.org
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