Wednesday, February 1, 2012

My Advice? Buy Your Millburn-Short Hills Home for the Right Reasons.

If there are two words that any Millburn-Short Hills home buyer should be aware of during their house hunt, these are them: buyer’s remorse. I can’t tell you how often I have seen buyers get caught up in the excitement and thrill of shopping for a new home, only to later regret their choice. The question that many people who I speak to about this subject have is, “What is it that causes buyer’s remorse? Don’t people know what they want in a home before they start looking?” Well, the short answer is yes, but many people aren’t looking for the right things.

It’s easy, when you are looking for a Millburn-Short Hills home, to get caught up or distracted by features that are seemingly impressive. My many years of experience as a Millburn-Short Hills real estate agent have shown that one of the biggest causes of buyer’s remorse is not purchasing a home for the right reasons. Amenities, luxury and impressive add-ons are great, but they are benefits to a home, not what makes a home the ideal living situation. In the interest of helping guide my clients through their Millburn-Short Hills real estate transaction, I thought that I’d share a few things that you should be looking for in a home. In other words, these are the “right” reasons that you should choose to buy a home.

Don’t focus on square footage. Focus on space. Not everyone can afford a gigantic home, nor does everyone want one. Quite frankly, they’re nice, but they cost a lot of money to maintain and tend to use up more energy. Instead, focus on light and space within the home. Are there a lot of walls, or is the space open, with one room leading right into another? Are there a lot of windows to give the rooms natural light? These elements will be what make you happy within the home, and they will allow you to maximize the use of what space you do have to work with. This, in the long run, will most likely satisfy you more than a home that is huge in square footage but has little windows and several walls closing you in to each room.

Focus on long-term value instead of immediate worth. While we are in a down market right now, it is a known fact that real estate tends to go in cycles. Eventually, the market will recover and home values will be back on the rise. With that being said, you shouldn’t focus on the immediate worth or value of a home and what you can get for it in one or two years. If you’re planning on staying in the house for awhile, then focus on the home’s potential value years from now, after you’ve had a chance to make your own renovations and updates.

Don’t neglect to factor in location. You could find a house that blows you away in every respect possible, but if you can’t stand the neighborhood that it’s in, then you’ll never be completely happy. Do your research about what neighborhoods that you would like to live in before you start your home search. That way, you can find the best home in the neighborhood that you’d most want to live in instead of finding the dream home and then learning to love the neighborhood.

Focusing on the amenities, size and luxurious elements of your Millburn-Short Hills home will only provide you with short-term gratification. If you keep your head focused and buy a home for the right reasons, then you will be a happier homeowner. As a Millburn-Short Hills real estate agent, it’s part of my job to look out for my clients’ best interests and ensure that they are making the decision that is best for them. That’s why overall, my advice is this: before you buy, make sure it’s for the right reasons!

If you have any questions about buying a home on the Millburn-Short Hills real estate market, don’t hesitate to contact me! I’d love to help you in any way that I can. I hope to hear from you soon!

Elaine Pruzon
Coldwell Banker Residential Brokerage
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