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Sunday, June 26, 2016

Home Ownership Is Often Considered A Cornerstone Of The American Dream

Owning a home has become one of the mainstays of the ideal adult life in America.  Along with marriage, wealth and happiness for yourself and those in your social circles.  Homeownership is a primary symbol of accomplishment.  It displays you have achieved many of the necessary requirements to meet those illustrious qualifications.  However inexperienced buyers can face hardships and exploitation in a seller’s market where greed can become a cunning offense ending in a bad contract for the new owner.  This can involve the overall cost of the home, the land it is housed on, the area they will reside in and the structure of the building.  Real estate developers have the advantage as they can also decide the price of a listing.  The majority of merchants are very honest in dealing with the public at this.  However, some situations can lend itself to gross inflation in pursuit of additional profit.  It does not really matter if the property is in high demand or if one party is assured to make the purchase.  The bottom line is usually the finalized deal and not the process that led to it.  Houses have been built on unstable land where damage to the property and injury to the residents have occurred.  A portion of these events are caused by natural disasters or unforeseen events which are not included in the insurance policy.  Again there are good retailers and lenders who will mention this information up front establishing the pros and cons.  There are others who will never discuss it leaving an entire life’s work up in the air to chance.  The area can also be confusing to new occupants looking for a place to dwell.  Getting a genuine feel and sense of the surrounding area is something many homeowners do when acquiring their humble abode.  Some try to gather data on that prior to making an informed decision.  While many more will take the realtor’s word as gospel without doing their own due diligence. 
If I would suggest any advice it would be for potential home buyers to take time to learn about this topic.  Do your own research before agreeing to the final purchase.  You can enter the discussion with all the questions you want to ask or ready to have a tasteful dialog where you can stand on your own.  Education is an incipient factor to any inchoate operation one will indulge themselves in.  Learning about a subject can reveal new information and modify your preferences or lead you to be further entrenched in your position.  Use your time studying to know what you like and what else may be available.  Understand why there are so many options and what factors play directly into the pricing.  Psychologically, there is a big difference between what you can afford and maybe what you should continue to save for.  You may have heard of the story of the three little pigs where each built different houses for their own reasons.  Once they encounter danger, only one house was found to be helpful.  Rash decisions can have severe ramifications later that if patience was used would be avoided.  Actually gaining information about land, the surrounding area, building specifications, interest rates and mortgages can give some leverage to negotiate with a realtor.  Now you might not want to bicker about what is discussed but you should be able to make correction or insert suggestion as part of a deal.  This can also enlighten about how someone may try to cut corners and get over in some way.  Proper preparation will lead to favorable results the majority of the time in most situations.  People can offer misinformation but you are ultimately responsible for signing your name on any agreement.  At the end of the day, we have to own all of our failures, successes, mistakes and achievements we create or encounter from the ground up.

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