Secret pitfalls of home buying could stop your dreams. Palm State Mortgage Company can help. Palm State Mortgage Company works with quite a few first time home buyers.  We have discovered many of them need a few warnings before they sign the mortgage commitment on their first real home.

Before we tell you about the three magical secret traps that await you “out there” in house-hunting world, let us inform you that all three of them use the same bait.

They are all baited with emotion, and the horrifying truth is that, most of the time, you actually provide that bait.

At Palm State Mortgage, we know there is a blend of emotion and logic behind finding your first home.

We hope you can avoid the pitfalls of over-using your emotions to make decisions about your first home buying experience.

Secret Trap 1:  Love Potion Number 9

Some buyers exhibit the same signs as new lovers;  they are in love with the idea of owning a home.  They are not boy-crazy or girl crazy; they are house crazy.

“Sometimes they overlook important areas that will impact their bottom line.”

Take a Deep breath.  Experts at Realtor.com say, “Buying a home is, after all, an investment, too. Make sure you consider your purchase with a clear head before signing on the dotted line.”

It is not the same with stocks and bonds.

We do not fall in love with such papers.  We only see the ROI, return on investment.  “But a house to live in is a special case, a beautiful dream.  It’s easy to love.

Only logic can keep you sane.

Believe us when we say you must not be blinded to such things as structural damage, just because you love the hot tub or the kitchen appliances.  Love Potion Number 9 can blind you to such things as structural damage. Lucky for you we know how to give you a logic spell to counteract the power of house-love.

Here it is—the Structural Damage Indicators List!  Look for the items on this list.  They will help you counteract Love Potion Number 9. 

Cracks in brick, stonework or the foundation itself,

Interior doors stick or don’t fit their jambs any longer,

Cracks in interior sheet rock,Secret traps can damage your dreams and your budget. Beware!

Cracks in floors,

Bulging floors,

All of the above are clues that there is structural damage in the home.

Learn to override the House Love Potion Number 9.

It is often dispensed by the realtor.  We suggest you treat the

purchase of house ownership as a potential investment before you treat it as a new member of the family.

Don’t drink the Potion.  Stay clear-eyed and keep a firm grip on your budget.

2. Secret Trap Number 2:  Beware of the Enchanters of Advice

Speaking of the real estate agent, everyone involved with your first home can stir you up into circles of confusion.

All of the experts have the answers to your first home dilemmas:  The real estate agents, your family, your spouse’s family, your accountant, your doctor, your work colleagues, your best friends. Literally everyone in your circle will have home buying advice.

Only you know what you and your family need and want in a home.  Pleasing yourself and/or your spouse will be difficult enough without falling into the emotional role of a people-pleaser.

Of course, there’s no harm in listening to their opinions.  But only you know how to balance all the personal factors that enter into a decision on your first home.

3.  Secret Trap Number 3:  Beware of the Spell of Indecision!

When you start your house hunt, you must wear a charm of protection, the tried and true talisman of The List.Secret Traps of Indecision hurt home buyers.

The List is a numbered paper including your most important requirements for the house.  It will protect you from the emotionally charged Spell of Indecision.

You might include:  a certain school district, the date you must move, the number of bedrooms and the square footage.

Only on a separate list do you include the little extra details that would be nice to have in your home.

Okay, the hot tub, the marble columns and the Gothic arches can go on that list.

Likewise, if you have a budget that mandates 200 thousand dollars for the new home, then you avoid ever looking at a 260 thousand dollar home.

Being decisive about your most basic requirements from the beginning can really save you a lot of time and money.

You do not want to wallow around in the kingdom of indecision, which is a cold and uncomfortable place.  Likewise, if you do not avoid the emotional traps of the Love potion, Enchanter’s Advice, or the Charm of Indecision, you might not ever become a home owner.

These home buyer traps are not really powered by black magic, although we did have a bit of fun “naming them” in today’s blog.

Remember, the “Traps” are powered when you allow your logic and common sense to be clouded by the emotions of the house hunting experience.