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FIND YOUR DREAM HOME OR APARTMENT
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Do without a garage? Absurd. But no mention of doing without a pool, a very expensive item.
I like how the article didn't tell you to sacrifice anything, just opened your mind to the alternatives. Not everyone is going to be willing to sacrifice certain things and the author knows that. The perfect house is going to be expensive, and the article is about saving money on a home purchase. If you make enough money you won't need to sacrifice anything. Having major goals is the key for those that need to save, if you have kids then the number of rooms, the school district, and crime are major concerns, the kitchen and floors are minor concerns. Trust me you will need to replace them anyway. If you are retired then you don't need a big house you need one with security, low maintenance, and by a good hospital.
Mr Kennedy must either be a guy who tried unsuccessfully to become a good Realtor or just was not smart enough to select the "right" Realtor when he sold or bought a home. Being a former law enforcement officer with honesty and credibility at 1-2, I have worked hard to treat people the same as what I would like to be treated. There are in no doubt bad "apples" in every field, probably in the field Mr Kennedy works, although he probably would not admit it from the way he sounds.
Mr K, you just sound as you needed to put a little more "intelligence" and "thought" in you Realtor selection process rather than who may give you the best deal or a "kickback" when you made your purchase. Or maybe you are just too cheap for your wife's taste! I would guess, probably a little of both.
Joe Steuer, Realtor
I love it. Sacrifice location, schools, size and basically anything you want in a house...
Kind of what my husband and I did with our first (current) house. Fast forward 5 years later, despite a 20% downpayment, we're underwater, in a house too small for us and our ONE child and we're in a crappy school district. Oh and we've had to repair just about everything because we got a fixer upper.
Realtors spend the majority of their work time and energy convincing you to sign up with them or list your home by telling you they can save you, or get you, SO MUCH MORE MONEY. Then they simply stop working for you. They knowingly lie about things like the square footage of a property and then play dumb about it when confronted with the truth, among other things. They have their disclaimer in the fine print that says that they are not responsible for misrepresentations. You did read that didn't you? And that's doing enough for their 3 percent; they are not going to do anything else. Huff huff. I had a realtor brag to me one time that 'I bought that Lincoln out there with the commission from the sale of just one house'. Well, you were overpaid for your time, 'cause you're not worth it and you didn't deserve it.
Lazy, spoiled, and egotistical, no?
It is apparent that the above internet story was written for realtors (so it's a lie, too) and it's really about what realtors are so busy sitting around whining and complaining about, not the desires of first time home buyers. Yes, they all want a garage. So what? Maybe the realtors need to park your Lincolns outside 24/7, because you've got so much stuff in your 3 car garage you can't put anything more in there. It's the salesperson who wants granite countertops: her husband is the guy who installs it, so he gets a cut, too.
You realtors need to figure out how and why you should change your attitudes, change a light bulb or two every now and then. Get out there and clean up in the front yard. Be sure to pick up all of those cigarette butts, too, before you're through.
Wow, the article is sooo smart and well written, too! Just Kidding!!
Seriously, here in America, during this economical down-turn, 2 attorneys (who couldn't afford what they wanted, anyway) are supposedly going to BUY a home in a less than wise school district because they are smart enough to forecast for themselves that they will sell and move to a better one when the kids are school age- please! What a dinosaur of an article. Yeah, that's the dumb downing us American's should subscribe to- as always!
First of all extra bathrooms are necessary and not just for company - even if it is just a half bath! When someone in the family gets sick or all of you are sick, an extra bathroom is definitely not a luxury. Or try and wait for a plumber for days and just where and what are you supposed to do?Garages are another thing that are important. Today they are especially necessary because weather will damage a car - be it extreme heat or cold and don't forget about the security aspects of being able to lock up the car each night or the insurance factor. The instrumentation in cars today is extremely sensitive to temperature changes. Also note that insurance companies want a car to be in a garage at night. Another dumb realtor thought that should be ignored.
As for location. I have purchased and sold real estate since I was 20 years old and can now say decades later that if you believe that location isn't important you are beyond stupid to believe that line. It will always be location, location, location. Another part of the location factor is school district. Many people move to a LOCATION because of the school district! I have witnessed beautiful homes go unsold for YEARS because they were in a questionable or changing school district.
The comment about amenities in a condo may or may not be correct. You have to do the research on the actual cost of the fitness club (for example) in your area and factor in the cost to travel as well. Maybe you can join close to your employment and use it there. This is something that is personal and different based on individual needs which will alter the costs.
Personally, knowing what I know now. I would rent the cheapest apartment or condo in the best location for as long as possible until I could pay cash for my first property unless I purchased a property with a rental in it. When you are young it is about work, work, work and you generally entertain away from home. Even if you entertain at home - most people do not expect much if you explain that you are saving for the right place.
Realtors only care about their commissions and do not tell the truth about buying and selling properties. You can only create wealth and improve your lot in life by limiting your financial exposure to a bank or mortgage company. If kids are entering their adult life with student loans coupled with a mortgage, they do not stand a chance of "owning" their home. Instead the bank will own them for their entire life. I was mortgage free on two properties by the age of 32! Think smart and work hard and be your own bank.
Bottomline: The last person to trust or listen to is the realtor! Follow the money.