To Buy or Not to Buy, That Is the Question

One of my favorite places in the world is Cade's Cove in the Great Smoky Mountains National Park. It manages to be a peaceful place, in spite of the masses that visit every year. And every time I go there, I find myself thinking about how brutally difficult it must have been to build a shelter here, and how long it must have taken to make that shelter feel like home. Deciding whether to buy or rent can be stressful, but at least we don't have to haul our own logs!

My first listing was an adventure. The client is a very nice person and the property would be perfect for someone who wanted to live in the country with a few animals or a couple of horses. Here is a picture the client took last winter. You can learn more about the property at www.remax.com.

As much as I'd love to show you this or some other houses tomorrow, here are a couple of steps to take before you begin looking at properties. The first is to consider whether or not you want to buy at all. There are some excellent Rent Versus Buy calculators on the web, including this one at realtor.com and this very detailed one at Freddie Mac.

After that, if you decide that buying makes sense for you, the next step is to become pre-approved for a mortgage. Unlike pre-qualification, where the lender makes an estimate about what kind of mortgage best suits your needs and what payment you can afford, pre-approval means actually applying for a mortgage, with the address to be determined later. It’s not as much fun as diving head first into the house search process, but it does make a buyer more realistic about the kind of home they can afford. What would be worse than finding a home you love and discovering you can’t afford it? Better to have the facts up front. And the truth is, a seller is going to want to know that you have financing ready to go.

Finally, for this most important purchase, I recommend finding a real estate agent. Experience is important, but so is compatibility, trust, and whether or not the person you are dealing with has made a commitment to professional ethics. Ask about whether or not the agent subscribes to a set of ethical guidelines like those found here, or ask to see the agency’s Mission Statement. They should care enough about their clients to have one that focuses on excellent service, honesty, integrity, and giving back to the community.

If you have any questions, feel free to email me at ginatollini@remax.com.

P.S. All photos are either the personal property of my family or I will indicate who took them. For the family photos, it isn't always possible to know who was behind the camera, but otherwise, all photos will be credited.