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Home Buying Tip - How to Avoid "The One" Syndrome

by Brandon Cornett

When shopping for your first home -- or even your second or third home -- it's easy to get swept up by the excitement. That's only natural.

Buying a new home should excite you. If it doesn't, you may need to check your pulse! But at the same time, you must be analytical and realistic about the home buying process. After all, there's a lot of money on the table.

Many home buyers err on the side of emotion. They overlook, in their excitement, certain aspects of a home that would normally turn them off. Next they know, the contract has been signed and the earnest money has been paid. In short, they have succumbed to "The One" Syndrome.

What is this syndrome, and how do you know if you're a victim? Here's a test:

During the home buying process, if you've ever pulled up to a house and shouted "It's the one!" before even getting out of the car ... you've been a victim of "The One" syndrome.

There's nothing wrong with having a good first impression. Truth is, first impressions tell you a lot about your compatibility with a particular house. Still, you must be objective in spite of your excitement. Here's why:

A strong emotional response can blind you to things you would normally see clearly. In home buying terms, this means you might overlook certain flaws in a house as a result of your excitement.

The key is to balance emotion with logic. Here are some tips to help you:

1. Imagine you're screening the home for a close friend, not for yourself. This will help you stay cool and business-like during your visit.

2. A twist on the friend approach is to actually bring a friend with you. A friend can give you an objective, third-party perspective. They might even help you recall things about a house you wouldn't otherwise recall.

3. Bring a checklist with you. The list should include everything you're looking for in a house, prioritized by most to least important. Having these items on paper will remind you to look for them in each house -- even in a state of heightened emotion.

4. When you find a house you like, visit it more than once. You'll be surprised at how many things you notice the second time around, after the "first look" excitement has worn off.

Keep in mind if you're in a seller's market, you'll have less time for the strategies listed above. But it still pays to be objective.

The home buying process brings out a lot of emotions. But for something that affects your life and finances so significantly, it pays to keep a cool head. And don't worry, you'll find "the one" soon enough.

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Brandon Cornett is the editor of Home Buying Institute