We were told that unless we were going to stay put for five years, it didn’t make sense to buy because of all the commissions we would pay.

Don’t put off buying real estate because you may be moving within a few years. Wouldn’t it make more sense to execute a short-term ownership strategy? On the surface that advice regarding commissions may sound reasonable, but with the way that property has been appreciating in central Florida over the past several years, it is hard to go wrong with owning here. The real risk, is what happens if you don’t buy? Paying rent does not only preclude you from the tax advantages of ownership, but it also may make the homes that much further out of financial reach! There may be risks in buying, but there are greater risks in not buying. Go ahead and execute a short-term ownership strategy.

Perspective.  The common mistake here is insisting one feature outweigh the importance of all other features.  (Note: not having a bathroom… that may be the exception to the rule!)  When you shop for a house, put first things first.  Align your home shopping goals with your lifestyle priorities.  Then, don’t insist on a pool, a fourth or fifth bedroom, a formal living room, a formal dining room, a den, a fireplace, a three or four car garage, or any other features that are not critical to the primary benefits the your home and neighborhood must provide.  Be willing to trade off an idealized image for the way you will actually live.  Remember, you can always ADD a pool!

We didn’t know that when we moved here! Did we step back into Soviet Russia?!

Home Owners Associations: Your best friend and worst enemy. When going over your possibilities and priorities, don’t just think about home features and neighborhoods. It is important to consider the association rules and regulations you want to live under. The temptation when looking for a home is to glance over those “unimportant” documents and comment on how much you love the Roman tub and walk in shower. Be careful, you may find that, in addition to making your life more unpleasant, the rules you are agreeing to live under can lead to fines for violations and even result in liens against your property!! HOAs have their value in helping promote continuity and good taste, therefore maintaining or even stimulating growth in home values. Ever have experience with an UNBELIEVABLE restriction? SHARE IT WITH US.

NEVER buy just to, “get the decision over with.” Especially the way the market is now in central Florida, this temptation arises frequently because of the shortage of good homes. (Reason #127 to use a REALTOR.) See, home buying creates somewhat of a paradox. Who doesn’t get excited about the prospects of buying a new home?? It’s natural. Yet, searching for the right home can frustrate to the level of insanity. If this happens, step back and relax. Remember that if you focus on the priorities of the purchase, it will help clear your thinking and give you a renewed determination to move forward.

When shopping for a home, it is wise to always factor potential appreciation gains in your decision. In both hot and cold markets, you should compare homes and neighborhoods on the basis of your profit potential as well. Good opportunities for profit are always available to those who remain savvy and persistent in their home-buying efforts.