Everyone’s Prodding me to Buy (or Sell)… Who’s Right?
One of the most irritating things about real estate is that everyone has an opinion about it! I noticed that the minute we bought our rental property and moved out of our house. And irritating as that might be, it’s usually a good idea to pay attention to the things you hear around you.
As long as you do your own research. And don’t heed them (the comments of people around you) too much.
As anecdotal evidence, when my husband bought a HUD owned home in late 2000, his friends thought he was nuts. But the math worked - he actually paid less in mortgage costs than he did where he was renting. It was a complete no-brainer.
And here we are, sitting on a nice 2 bedroom rental that will continue to build equity over the next 30 years.
I have had various clients make decisions (toward buying or selling) because “someone told me to do so.” I would say, for one thing, check your sources. If the person telling you to buy is one that always chases a “hot tip” and then doesn’t get anywhere, you should not listen to the person. If on the other hand, he happens to be your mentor and successful, by all means, take his advice.
But claim complete responsibility for your decision. After all, it’s your name on the dotted line.
