And we are back with our special show ‘Back to the Basics of Buying New!” The latest part of our special stay at home series keeping your real estate skils and knowledge right up there – so that when the pandemic is over? You’ll be ready to go!
And let’s wrap up today’s show with one last look at buying, or building, a brand new house.
You know, when you talk about building a home – everybody knows there are lots of decisions to be made. Right? And if we’re building it as a single person, well, we can make most of those by ourselves.
But what if you’re married? And if every decision you make, has to be made by the two of you? Challenging? Yes. Impossible? No…So here’s an idea. Before you embark on constructing your dream home, consider adding five brand new wedding vows…to cover the ups and downs of home building.
Vow Number One: We shall agree on a budget.
How much do you want to spend on this home purchase? Decide this as a couple. It’s easy to go OVER budget with a blink of an eye when building a new house. When selecting your upgrades, or by changing the plans after the project has started, you could easily see the tab go up by ONE HUNDRED THOUSAND dollars or more. Know your absolute maximum budget before you begin, and stick to it.
Vow Number Two: We shall respect what matters to each other.
Create a list of “his” must-haves and “her” must-haves. Consider: What features do you each dream about in your new house? Maybe one of you wants a workshop in the garage. But maybe the other wants a walk-in closet. But when these are identified as your top priorities, you need to agree that you BOTH get your top priorities. It’s all about compromise and working as a team to create a home you both will enjoy.
Vow Number Three: We shall make all the decisions together.
Before you sign off on anything with a builder, make sure you both agree. I mean, let’s say the project is underway, and the builder comes to you and says ‘we might be able to do something differently,’ or, ‘hey, how about this color instead? You should always include your spouse in the decision. If you do, you’ll be working as a team. If you don’t, someone may end up with hurt feelings. Make all your decisions together…from start to finish.
Vow Number Four: We shall attend every meeting together.
In building a home, there will be a lot of meetings, from the type and size of the house, to design and color selections, to walk-throughs and inspections of the drywall, the electrical, the plumbing…you get the idea. You need to be there, in person – and that’s both of you. Again – it’s a team effort. We’ve heard of some couples using Skype or other video conferencing capabilities when one spouse can’t be physically present. You may need to be flexible in how you’re there, but the important thing is that you are there!
And Vow Number Five: if we absolutely, positively cannot agree on something – we will get a second opinion.
Some things may be so hard to figure out – you can never agree. Like whether you should give up the big whirlpool soaker tub for a larger walk-in shower.
It might get so serious that you need a mediator. And I’m not talking about a civil court judge here – I’m talking about a Realtor.
After all, your Realtor knows your market, what adds value to a home in your neighborhood, and what doesn’t. If you need a tie-breaker, chances are your Realtor can give you some solid information. And we’re talking about more than just their opinion – because they can give you data, and facts about other homes with the features you’re talking about, and how those features translated into overall value. Because, even though it’s important to build what you like – it’s also important to build a home that other people will want to buy, down the road.
In many ways, building a new home is a lot like a marriage. A strong foundation is critical for a strong marriage and a solid home! So if you’re getting ready to embark on this journey together, add those five vows before you begin – so you’ll have a strong foundation from the get-go.
It all brings to mind an old saying. that may well apply to your brand new home, as well as your marriage:
‘The more you invest in it, the more valuable it will become.’