It’s a common thing that you hear people say when they’re looking for a new home: “I’m just in love with this house. I want to buy it.” They may say it after seeing the home in person or after simply looking at the online profile.
It’s understandable. We want homes that we love and searching for a new house — and especially for a dream home for the family — is an emotional process. You’re not just buying a house to get shelter. You’re buying one to build your life in. You want to be excited about it.
The downsides of setting your heart on a home
However, there are serious problems with getting too attached to a house. One is over-spending. If someone else is also bidding on that property, you could find yourself putting down tens of thousands of dollars more than the house is worth, all because you’re just too mentally and emotionally invested.
Another potential issue is that you could overlook defects. You need to go through a home carefully, really looking for things like foundation cracks, evidence of water damage, fire hazards, systems and appliances that don’t work, and much more. If you’re too wrapped up in trying to get the home no matter what, you could buy a home that turns out to be a bad investment — even when all of the red flags were there during your walk-through.
Proceed carefully when you buy real estate
It can often help to proceed carefully, with the assistance of an impartial third party. You also need to consider all legal steps to buying a home to make sure it goes smoothly.