In
Love With Two Houses? What to Consider When Making a Decision
 As you find yourself heavily immersed in house-hunting
mode, you may encounter a situation in which you're torn between two houses. Perhaps you
and your spouse each have a favorite, or perhaps you both like two houses equally - or
think you do.
Making a final decision and determining which house to make an offer on shouldn't be
taken lightly. The decision should be made rationally and not guided by emotion.
Of course, you may not have the luxury of taking your time on deciding which house
you'd like to pursue. You may be in a market in which homes in your price range get
snatched up as quickly as they go on the market, perhaps even attracting multiple offers.
But in some situations, you may find yourself torn between two houses. Sometimes the
easiest thing to do is take pen to paper and outline your family's needs, your budget, and
the pros and cons of each house.
Some things you'll want to compare include:
The neighborhoods. If the two final contenders are in different neighborhoods, evaluate
the pros and cons. If you have kids and being close to a park is important, you'll want to
consider that. How close are shopping, restaurants, church, and other services? Are the
streets maintained? Do homeowners landscape and maintain their homes nicely? How long will
your commute to work be?
- The schools. If you have school-aged children, you definitely want to consider the
reputation of the neighborhood schools. You can usually find general district information
and state standardized test results online. But once you're this deep in the process,
you'll want to visit the schools and receive the information first-hand from school
officials. You should also talk to teachers and parents.
- Crime. Go to the local police or sheriff department and ask about crime in your specific
neighborhood. You might find theft or vandalism to be more prevalent in one area than
another.
- The houses compared to others in the neighborhood. While it may boost your self-esteem
to have the biggest house on the block, it's typically a better idea to stay away from
purchasing the neighborhood monster. When it comes time to sell you'll find that the lower
value of your neighbors' homes will shrink your home's value.
- Appreciation. If the two homes you're eyeing are in different parts of town or different
neighborhoods, ask your real estate agent to retrieve sales of homes in those
neighborhoods over the past few years. If one neighborhood shows an annual average 8
percent increase and another is skyrocketing at 15 percent, you may have your decision
made.
- The sellers' situations. If you don't know already, ask your real estate agent how long
each home has been on the market. Usually the longer a house has been listed, the better
chance the seller will accept an offer lower than asking price. Conversely, if the house
has been on the market for just a couple days, the sellers will probably wait for a better
offer if you offer less than the listed price. Your real estate agent might also be able
to dig up additional information about the sellers, like why they're selling. If it's a
job-related move or a divorce, the sellers likely want to move as quickly as possible,
meaning you have a better shot at them accepting a lower price.
- The houses themselves. If you haven't already, you should make a list of the amenities
and attributes you want your house to have. If you want that first-floor home office, a
large, open back yard for the kids, or a gourmet kitchen, be sure to include that on your
list. Then, rate how each house measures up to each need on your list.
- Drawbacks. Likewise, make a list of the cons associated with each house and determine
how much of a negative impact each will have.
As you carefully weigh all the factors,
it might become clear that one house is more enticing than the other. Or, you may find the
houses are still equally appealing. If that is the case, be sure you look at the homes
more than once. You may notice something you didn't the first time around - something that
could sway you one way or the other.
Written by
Michele Dawson
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can help? -- Let me show you how!
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