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Two Houses
Buyers Dilemma - When you are torn between two properties...

Picture this scenario.... You’ve been house-hunting for months and nothing has been quite right… Then all of a sudden, you’ find two homes you love, and you are torn between the two. So here is the dilemma - how do you decide which one to go for?

Although it is easier said than done, making a final decision should be made rationally and not guided by emotion. The team at Thomson understand this predicament all too well - after all, this is our business and we come up against all sorts of different scenarios every day. So what do you do? Well, in this situation, sometimes the easiest thing to do is take pen to paper and outline your family's needs, your budget, and the pros and cons of each home.

When outlining pro's and con's, we suggest that you consider the following:

  • The neighbourhoods. If the two final contenders are in different neighborhoods, evaluate the pros and cons. If you have kids and being close to a park is important, you'll want to consider that. How close are shopping, restaurants, schools and other services? Are the streets maintained? Do homeowners landscape and maintain their homes nicely? How long will your commute to work be?
  • The schools. If you have school-aged children, you definitely want to consider the reputation of the neighbourhood schools. You can usually find general information and state standardised test results online. But once you're this deep in the process, you'll want to visit the schools and receive the information first-hand from school officials. You should also talk to teachers and parents.
  • Appreciation. If the two homes you're eyeing are in different parts of town or different neighbourhoods, use readily available data through the major real estate websites to assess median house price growth, and even rental returns in those areas. If one neighbourhood shows an annual average 8 percent increase and another is skyrocketing at 15 percent, you may have your decision made.
  • The properties themselves. If you haven't already, you should make a list of the amenities and attributes you want your home to have. If you want that first-floor home office, a large, open back yard for the kids, or a gourmet kitchen, be sure to include that on your list. Then, rate how each property measures up to each need on your list.
  • Drawbacks. Likewise, make a list of the cons associated with each home and determine how much of a negative impact each will have.

As you carefully weigh all the factors, it might become clear that one property is more enticing than the other. Or, you may find the properties are still equally appealing. If that is the case, be sure you look at both properties more than once. You may notice something you didn't the first time around - something that could sway you one way or the other.

In fact, you should probably visit each property at least two more times, at different times of the day to get a feeling for how the property and neighborhood look and feel in the morning versus late afternoon or evening. Once you make a decision and an offer, you can take comfort in knowing you may still have a back-up.

 

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