two golf clubs and a golf ball on a putting green

O- Overclub: The Importance of Staying Within Realistic Expectations and Budget

In Buyers by Doug Phelps

There is a definite science to golf club height and weight, not to mention trajectory and power that goes into the initial contact of club to ball.  Many golfers spend a lot of time thinking about the perfect club for a specific shot, however some golfers just like to whack at balls with all the power they can.  Who knows, maybe they’re just blowing off steam. Either way, there is absolutely such a thing as too powerful a club for a particular shot. When a golfer, whether purposely or accidentally, uses a club that is too powerful for circumstances this is known as over-club

Just like choosing a club that is inappropriate for the circumstances, a potential home buyer can find themselves in unfavorable circumstances due to false or misleading expectations that are floating around online. Here are some good tips on how to avoid them.

Know your budget

This is a BIG one.  Just because you have a particular house in mind, doesn’t mean it will be budget friendly.  Of course, we all would like to live in castles but can you imagine the maid service bill for one of those?! All kidding aside, knowing how much home you can afford can help you to avoid things like being house-poor which is when most of your income goes towards your house payment and you then need to forego vacations and extracurricular shopping trips. Also account for things like income dips or raises, as well as expenses of outfitting rooms in the house and taking care of the yard. If you are house hunting and expect a big promotion in the next few months then possibly determine if that would change your housing desires. Likewise, if you’re on the verge of retirement or cutting back hours at work to stay home with a new baby, account for those life changes too.

Know your life situation

As mentioned in point #1, knowing your life situation is key to your home buying desires.  Again, if you are on the verge of retiring and will only be living with your spouse and family dog then you probably don’t need as much room as someone with 3 minor children and an aging relative in-tow.  If you like a lot of extra space, by all means take it but if you feel the need to downsize and be a bit cozier then feel free to explore those options with your realtor. Likewise, if you want or need to be in a particular location,  let your agent know. For example, do you need to be 10 minutes from work? Do you want to live on a golf course? (One of my specialities — LOL!) Do you need to be in a good school district? Mention these things to your agent.  

If you have a long wish-list, let your realtor help you sort out priorities

Staying realistic about your wishlist is another big one.  We’ve all seen the internet memes mocking those who appear on the television show House Hunters with crazy demands and unrealistic expectations.  To avoid being in that situation yourself, being able to narrow down a long wishlist into the top 5 or so needs will save you a lot of time and trouble.  Please know that having a wishlist is a good thing and your realtor wants to help you find your dream home that will make you happy to come home every night.  Just know that it may be more realistic to prioritize that list and anything you get outside of those demands are a plus!

If this is your first home, you may have to compromise

To break the news now, it is not very often that the first-time home buyer gets everything on their wishlist! Possibly due to budget issues or just simply the fact that without any experience, expectations run very high, for first time home buyers.  As a first-time buyer, don’t be afraid to lean on your realtor for tips, advice and expectations.   

When you’re ready to begin your home search, contact me at (720) 323-4176, I’d love the chance to help you caddy your home search! Alternatively, you can search for homes right here on my website free of charge and without registering. Click here to start an online home search.

This post is part of an ongoing series where we talk about my two favorite things: golf and real estate!  Stay tuned for more golf-themed posts as we go through the ABC’s of real estate and provide helpful tips for home buyers and sellers alike. 

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