Keep Your Emotions in Check

It is easy to become emotional in a real estate transaction. After all, hundreds of thousands of dollars are involved. And even beyond that, your family is impacted -- the home is a central figure in a family's life.

Working in marketing and advertising has taught me many things over the years. The main one is that all purchases are emotional. You appeal to the emotions and that will sell an item. We buy a specific home to satisfy an emotional need.

And those needs from person to person. They can be rational, and they can be irrational. If we all purchased a property based on logic, everyone would be living in a basic home that met basic needs. A roof is all that is necessary. There wouldn't be million dollar estates. There wouldn't be differences in homes. We wouldn't be trying to show off.

But what can you do?

You know that you are going to make this decision partly based on emotion. That's fine. But don't let it override the facts. Don't walk through the home you can't turn down, yet can't afford. Don't even go there. Even though a home appears perfect to you, make sure you have it professionally inspected. Don't let your emotions tell you that the facts aren't necessary.

They are very necessary.

When you want something badly, you tend to rush into things. And that isn't always good in real estate. Make sure that you make a sound decision. Tour several homes. Compare them to each other. Look at the prices, the mortgage cost, the monthly payments and the impact to your budget. Remember that money is a very emotional thing also. You have to keep the facts in check to keep your emotions in balance.

You have to look at buying a home as a business transaction. And you have to look at selling a home as one as well. We often have hurt feelings when selling our homes, simply because we are emotional about the process. We are packing up and leaving our home. No matter how wonderful the new home will be, it is still emotional. Many an emotional speech has been made during a closing. Yet, if you keep in mind that it is emotional for everyone, perhaps your stress will be somewhat limited.

When you become emotional during real estate transactions, it simply adds to the stress of the situation. It can often ruin the whole experience for you and your family. Remember, it all will work out. If something happens, and it doesn't -- it is for the best. There are reasons that mortgages are declined. There are reasons that appraisals come in below the selling price. There are reasons that inspections turn up problems. And those are all things that protect both the buyers and the sellers. They are good things in the long run.

When you find the right home, you will know it. It will not only be in your price range and fit your familial needs, but it will draw you in emotionally. You will feel like you are at home. Good luck.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!