Buying a HOUSE. Sounds a little intimidating, right?
It doesn’t help that almost everyone will tell you that buying a house is the BIGGEST purchase you will ever make. And you need to do RIGHT NOW for reasons ranging from “the rates are the lowest they’ve ever been” to “you want more kids so you might as well buy a house,” to “if you don’t do it now, you’ll miss your chance.” We’ve heard all the scare tactics.
Is it possible that our culture has twisted the idea of buying a home into a bad thing? Owning a home is fantastic and has so many benefits that come with it, but why do we approach the topic with a scarcity mindset instead of an abundance mindset?
What if there was enough to go around that you wouldn’t have to rush into buying a home you don’t actually love or that you’re not financially ready for yet?
We want our clients and potential clients to retrain their brains into thinking of this market (and future markets) as the glass is half full, not half empty. You don’t have to act now; you can act when it’s right for you.
Scarcity Mindset
Seeing things from a scarcity mindset is what leads people to make quick and irresponsible decisions out of fear that they will miss out.
Have you ever participated in a bidding war for a house that didn’t check all of your boxes? It’s possible that you had a scarcity mindset in thinking you won’t find a better house for the right price and felt compelled to do whatever it took, simply out of fear.
When we bring this mindset into the homebuying process, we immediately skip necessary steps and intentional thought for identifying the best journey for your family.
Let’s jump back to the beginning of this article where we mentioned the ridiculous reasons people urge buyers to BUY NOW.
Here are some tangible tactics to pull out of your back pocket when someone pressures you to buy a house:
Ridiculous statement: “You’ll miss this opportunity.”
Your reply: “I’ll get the next one. This one isn’t the one opportunity for me.”
Ridiculous statement: “Interest rates are the lowest they’ve ever been. Better buy now!”
Your reply: “Interest rates drop when housing prices take a jump. I could still probably get a pretty good interest rate in a year or two when I find the right house.”
Ridiculous statement: “You’re planning on having more kids! You should buy a house soon.”
Your reply: “Our bank account determines when we buy a house. **Also, mind-ya-business**”
We like that last reply the best.
The point here is, try testing the waters of stepping out of your scarcity comfort zone and ask yourself, how far has this mindset gotten me? Has it benefited me? If the answer is, “not far” or “no,” let us introduce you to an abundance mindset when purchasing a home.
Abundance Mindset
We’d like you to meet our friend, Abundance, where you’ll find (you guessed it!) an abundance of everything!
When speaking of an abundance mindset in relation to buying a home, things don’t sound as scary. In fact, things seem a little slower paced, a little more appealing, a little more achievable.
Here’s an example. Jennifer qualified for a $200,000 loan. She has wanted to buy a home for years now, and it’s finally starting to happen. There’s just one problem, the houses currently on the market in the neighborhood she would like are not up to her standards. After touring each home in her price range and determining that these homes do not check off the non-negotiable boxes, she is deciding to wait until more homes come on the market closer to the summer months. She is willing to keep her family in a small apartment until the right home becomes available. Jennifer is not swayed by fear tactics because she knows that the right house for her is out there, and she’s not willing to settle for something she won’t end up loving, even if she needs to live in a temporary setting for a little longer.
We love helping people like Jennifer, because we know the dream home is a reality. You just have to be patient to find the right one.
When acquiring an abundance mindset, buying a home doesn’t seem so big and scary. Taking your time, one foot in front of the other, can be freeing.
We know the right house is out there for everyone, shifting your mindset is all it takes sometimes.