For Home buyers

Avoid the rebound real estate purchase

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No it isn’t always a good time to buy or to sell real estate . . at least not for everyone. 

Right after the holidays I start getting calls from people who want to move. For some of them the move will be because of a divorce or a break up with a partner. They wait until after the holidays and then begin making plans.

Some will want to buy another house. I call it a rebound house. Please think before you buy the rebound house because it is the home  purchased shortly after a  divorce or the break-up of a long term relationship. The rebound homes that are purchased don’t always work out in the long run.  Go out and rent an apartment and give yourself a year or so before buying real estate. 

During break ups people often look at their move as moving away from something or someone. It might be best to think in terms of moving toward something like a new life. Where do you want to be?  Where do you see yourself in five years? If there is no mental picture then making a long term commitment like buying a home is not the best choice.

I have listed homes for a few woman who bought the  home shortly after a break up.  In each case they felt they owned if for a short time and felt they had  made a mistake.  They did not look at enough homes, they got themselves in over their heads financially, or they just paid too much for what they bought because they wanted to get on with their lives and in their haste failed to do their homework.

Buying a home is a big step, please wait until you are ready to make a big decisions.  

Contact

Teresa Boardman
Realtor®, MN,
Licensed Broker
Saint Paul Home Realty
651-216-4603
teresa(at)tboardman.com
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