How often have you heard those words? I think the majority of the time, it's true. Good things last longer, look and taste better, work more effectively and efficiently and 9 times out of 10 are a more sound investment.
Think about the times you made the mistake of "going cheap." I don't mean on everyday things that may not matter but on something important. Did you regret your decision? Maybe it is hard to admit it to another person, your spouse, your best friend or neighbor but seriously, if you had to do it over again, my guess is you would have made a different decision.
My headline is a great fit for real estate for many, many reasons and I will try to give you just a few examples. Let's start with the home you may have purchased. Right now the interest rates are very low. You may have been qualified to purchase a home for $285,000. You decided to be conservative and keep some of your savings. Not a bad idea as I believe you should always have money in your savings account. However, you really decided to be conservative and only paid $200,000 for the home you bought. Instead of a 4 bedroom colonial, you purchased a 3 bedroom home with a bath and a half. Nothing wrong with that except you are getting married in the Fall and plan to have two kids. Your job will never require you to leave the area. Long term do you think a 3 bedroom home with a bath and a half will work for that family you plan to have? Secondly, how long do you think the rates will stay under 5% Finally, will you have to sell, pay a realtor, closing costs and then buy and pay closing costs within the next five years to accommodate the growing family you just created? Maybe that 4 bedroom colonial for $285,000 was a better investment in the long run.
The same thing happens when buyers visit a new construction site with me. They rarely think long-term. I always recommend that they think resale when building. Sometimes they think I am crazy but a new home always becomes an old home. A baby becomes a toddler and eventually a teenager. Most things age, don't they?
Always put your money into the structure..cosmetic things can be changed. For example, you cannot add 9 foot ceilings after the home is built. You can add stainless steel appliances. A third car garage is a great selling feature when you have to sell in 5 years! If you have the money go for that option and maybe plan on adding a screened porch in a few years. Standard grade cabinets will look like standard grade in no time. Spend a little bit more money and upgrade a level or two. It is so worth it. Remember, you get what you pay for!
Now let's talk about the realtor you choose to represent you. Have you done your homework? Checked out their website if you plan to list your home? Looked at the photos he or she uses to market his or her listings? Does the realtor use virtual tours and what does their sign look like? All important questions to ask. How much knowledge does the person seem to have and how long has the realtor been listing and selling homes? Have they worked through up and down markets? Is the realtor a salesperson or an associate broker in his/her office? You do not need the top person in the office, you need the best person for you! Someone who will listen, answer your questions and help you either sell your home or find you the home you need. Do your research and remember that you get what you pay for so make a wise decision with most probably your largest single investment!
Coldwell Banker Prime Properties