Are You
Buying a House or a Home?
As you read and study about buying real
estate, you will often find the words
"house" and "home" used interchangeably.
There is a huge difference between a house
and a home.
A house can be a place to eat, sleep, park
your car, and put all your "stuff"
(including other family members). It is a
material possession and an investment. A
home is where you feel comfortable, warm,
safe, and protected.
A home is where you live.
A house is something you buy logically. A
home is an emotional purchase. When
buying real estate you have to balance your
emotional wants and your logical needs
because there will almost certainly be a
time when the two conflict. For example, you
may want a house with a view, but the
payment is higher than you feel comfortable
with on a thirty-year fixed rate mortgage
mortgage.
The trick in
buying real estate is to view all decisions
with both a logical perspective and an
emotional perspective. If a situation
presents itself that requires a trade-off,
decide on whether there is a huge conflict
or a small one. Logic should win the big
conflicts, but emotion should always be a
factor, even winning the small ones.