What if I over pay for my house

First thing to ask yourself... over pay compared to what? Houses always sell for market value...and market value comes down to what a buyer is willing to pay and a seller is willing take in any given market...and based on that, I'm not sure what over paying really is?   In the long run, real estate values continue to rise. If you don't have to sell during a down market, over time you will make money on your real estate investment regardless of what you paid for it.

But what about today, right here, right now!  If a seller will only accept $450,000 and I only want to pay $440,000 what then?

Ask yourself a few questions...
1) is this the house I really want? If so...every other house you find will feel like a compromise.  You will forever be thinking about "the one that got away"


2) what does the difference mean in real terms
Monthly payment of $10,000 is a difference of approximately $25/ month (varies with mortgage rates and terms).  Ask yourself:  Can you afford that and is it worth it


3) How long do you plan on owning the home...the longer term your plans are, the more important it is to buy the house you really like, even if it means paying a little more


4) Perhaps the house worth it...and am I just being stubborn on price?  Sometimes getting the right house is a better WIN than getting a different house "my price". As much as we all try to be logical in our buying process- guaranteed emotions sneak in!

Answer those questions and you can easily determine what your next move is - pay more money or find a different house


Carla Dahlen | Owner

CENTURY 21 EXECUTIVES REALTY
2907-32nd Street,Vernon, BC
Direct Line: 250.549.2110| Cel: 250-938.0421| E-Mail: Carla.Dahlen@century21.ca
www.century21.ca/carla.dahlen

Carla Dahlen

Carla Dahlen

Personal Real Estate Corporation
CENTURY 21 Executives Realty Ltd.
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