You've finally found your dream home... You emotions start making plans. But what happens when you loose your dream home?
Now what? Your stomach drops. How do you start over?
Binge on Netflix and eat ice cream out of the carton? Even crawling into a hole and never seeing the sun might seem like a good idea (especially during the heat of the summer). But this is your time to re-group and come back even stronger! No seriously. Here's how...
First of all, I completely sympathize with you. My husband and I have been through the whirlwind of home searches. Losing the home you loved is never easy. And no feel-good saying can make it better. Although we had a roller coaster experience, we finally found our dream home in the Fox Valley and love it! So, how did we move forward?
1. Here's a little tough love: You need to pick yourself off the floor and start over. I get it. I remember crying at night - over what I thought - was the home I would raise our children in. The thought of starting over hurt my heart. Set a timer for 30 minutes and cry. But when the timer ends, get ready to look through more potential dream homes.
2. It's time to get fierce! Put on your proverbial boxing gloves and get ready for a fight. When we talk about the term of your mortgage loan, a few thousand dollars might not affect your monthly payments too much. And, in fact, could be the deciding factor of winning a home! Let's say you bid $250,000 on a home. Your monthly payments would be around $1185 per month. But what if you bid $260,000? Your monthly payment would be around $1230 per month. Is $45 worth going through this again? Calculate the risks, and make your offer strong.
3. Be ready to decide quickly! In a fast-paced market, waiting a few days, or even hours can mean you've lost. But offer with confidence and remember, you can have contingencies in your offer. If a home inspection finds a leaky roof, broken AC unit, or an unstable foundation - these are things you can discuss during the negotiation phase.
Stay strong my fellow house-hunters! Your home is waiting to be discovered.
This post was originally written by Rachael for The Kelly Davies Homes Team newsletter.
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