More than one time, when we work with buyers the seller makes a decision to draw a line on the price. And more than once, we have worked with a buyer who has lost a home that they loved for a few thousand dollars. That is right. For sometimes $3000 they walked away from a house that they wanted to buy.
But sometimes, these buyers have listened to me. You see I broke it down to a ridiculous number what that actually costs. Let me explain a few ways that I did it.
First, let’s understand that at today’s interest rate of 4%, every one thousand dollars you add to a mortgage increases the mortgage payment by $4.78 per month. That works out to about 16 cents per day. Would you spend an extra sixteen cents per day for your dream house? Probably so, but some buyers won’t.
If you stop at Starbucks for coffee every morning, you can save that $4.78 simply by stopping at WAWA for coffee once per month. If you already stop at WAWA or someplace similar, brew a cup at home for less than 10 cents per cup. The point I am trying to make is that there are so many ways to save five, ten or twenty dollars per month. And if you need to spend a few thousand dollars more to get the home of your dreams, you can make it up in so many ways.
Here is another way to look at things. If you spend an extra $2000 for a home to actually get the home, it’s costing you less than $10.00 per month extra, or about 32 cents per day. You won’t have paid that $2000 until you have been in the home for over 17 years! And that is nothing. But for the seller, that results in an extra $2000 in their pocket, and that, for the seller, can be something.
The point I am trying to make is this. If you like the house, and if you need to spend a little more than you want in order to get the home, just do it. It really is pennies when you think about it.
So if you are ready to begin looking for a new home, call me. Art Reiman – Realtor, at 732-598-7700. Or you can begin your search online at www.55plusinocean.com . Let me know how I can help.
