Emotional Preparation for Buying your First Condo

by | Mar 5, 2018 | Real Estate

Buying your first condo or co-op can be an exciting time, but it can also bee a deeply emotional one as well. Especially if this is also your first time buying and owning property for yourself. Even if you’ve handled all of the financial preparations, you may still feel ill-equipped on an emotional level. If you know what to expect, you can deal with it just fine. For those of you who do not, and are looking for nice Nob Hill condos, here are some ways you can emotionally prepare yourself for the experience of buying your first condo.

#1. Prepare for compromise

It’s tempting to want things your way or the highway, but that’s not how to do things when buying a house. In many cases, the real estate agent knows what’s best for you. Bear in mind, your options are limited by how many condos are actually for sale. And condos are in pretty high demand for new homeowners, so you need to find what you want and fast before it’s scooped up out from under you. Draw up a list of must haves and keep that list to around four to five options, then choose from those. And be prepared for your first, and even your second choice, to already have someone buying it as you contact the agent. Compromise is the key to fewer headaches.

#2. Prepare for time commitment

House hunting isn’t a single night’s perusing for a new condo. This is going to be the next few to several weeks of your time, if you want to find the right one for you. A dedicated search means having to cancel plans, vacations, things you want to do for your own amusement or pleasure. You may even have to risk pay cuts because you’ll have to take a few days off. You’ll be filling out paperwork, sending and receiving faxes and emails, and all in all, you are in for a lot of work and a lot of time. Prepare for that.

#3. Talk to other buyers

Nothing takes the edge off like asking for help and advice from other condo buyers. You don’t even necessarily have to know any of them, as there is no end of helpful forum sites that can help you work through whatever issues you may be facing and overcome any obstacles you may be tripping over. At least one other condo buyer has gone through what may seem insurmountable to you. It’s all a matter of finding them and getting their advice. For more information visit The Austin.

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