Are you buying a House Together? Let me share a bit of my story with couples…..
I received a phone call from a client that was interested in buying a house he said he found me through Yelp and the current agent he was dealing with was not helping him.
I remember that day he was really pressed to see a property and he met me at a Dunkin Donuts. He expressed that the realtor he was working with always sent his assistant and would not show the property himself unfortunately the assistant was not well versed in submitting contracts.
So I told him that I could help and would be happy to show him the property so we saw it right away. His whole mindset is to to buy a fixer upper and rehab to his liking. At this point I still had not met his wife. We went on to take a look at the property.
Here was the property we saw as you can see it needed a ton of work.
After a couple of weeks we kept looking at more fixer uppers and homes were really bad more like tear downs to be honest. We submitted bids and we kept getting outbid due to so many cash offers. Currently in Chicago there are many investors and every investor is buying and cash then building a new construction homes.
Finally met the wife
We finally got to one that was a possible contender since it had been on the market about 40 days. My client Steve had seen the property but his wife had not. So I met with her and low and behold she absolutely hated the property. She went on to tell me how she was NOT looking for a fixer upper or tear down. She wanted to move into a home that was habitable. I was thinking to myself have you and your husband not communicated about this?
I didn’t know how to say it politely so I just went ahead and asked her , “have you talked to your husband about what you guys are looking for, this is the biggest purchase of your life?” She said “it’s complicated”.When it comes to couples I normally meet with both parties to go over their mindset on home buying but unfortunately the wife works days and the husband works nights so it really impossible to get them to be in together at once.
I was really amazed as to why this couple had not communicated with one another in there own household. I was thinking to myself are these guys really married, LOL. Once I knew what the wife wanted and what he wanted I had a deep conversation with them both together regarding comprise and being on the same page. They got into an argument while I was present (awkward) but they were finally able to agree on what they wanted.
It’s hard to be standing in front of one party or the other and hearing arguments back and forth so going forward if you are in a relationship whether boyfriend, girlfriend, husband or wife please make sure you are on the same wavelength as you significant other.
Here are 5 tips to look for when you are in a relationship and buying a home.
1.) Decide How to Manage Costs
Before setting a housing budget, both partners need to have an honest conversation about the amount of debt they’re comfortable living with. Just because you can borrow the maximum amount doesn’t mean it’s a good idea.
2.) Prepare for Long Term Commitment
Let’s be real here, you are buying a house the biggest investments of your LIFE! So please prepare for a long term commitment you are not buying a toy for god sakes!
3.) You Sure This is Where You Want to Live?
This one is a doozy in my case the wife doesn’t want to live in a certain neighborhood but the husband wants to live in the outskirts of that neighborhood because it’s cheaper and more transportation.
4.) Learn to compromise.
This one is the biggest lesson of all. There is never going to be a perfect neighborhood, a perfect home, a perfect school a perfect anything. One of you has to give in to what’s best overall for your family.
If the schools is of up most importance then go with the best school districts, if transportation is key then go with that. Bottom line is that is has to make sense for both of you.
If you need a 2nd opinion or just want some plain advice on buying, selling or investing in a home feel free to email me @[email protected]
I was so perturbed about this that I had to rant so I live streamed about it here is my rant (bare with me it’s a little lengthly but good)