My personal rule is not to buy on impulse.
Often, the Universe conspires to cause me to violate this rule.
There are some times when I am unsuspecting and vulnerable to these “attacks”.
I fall for the “GREAT DEAL!” or
“If you don’t buy this NOW, you’re gonna miss a HUGE opportunity because supplies are limited.”
Or the timing just happens to be “perfect” . . . An unexpected financial gain shows up just as that “PERFECT” widget becomes available.
“All the COOL people like me already own one of these.”
“We’ll make it VERY convenient for you buy this from us.”
There are a few companies here in Nashville who are proliferating the radio, Billboards, Bus space with ads inviting Home Owners to “Sell your house without the hassle”. All you’ve gotta do is tell them your address and answer a few questions, and they will immediately send a CASH offer and will then let YOU decide when you move.
This level of convenience comes at hefty cost which is OK as long as you don’t (ever) know how much money you’re “leaving on the table”.
Your first think is: “This convenience is SO awesome!”
Your 2nd think might best be along the lines of: “Wait! These companies are buying the house, making very few improvements, and then selling the house at a PROFIT for them.” If this weren’t true, they’d be going out of business.
Your 3rd think might be the question: “How much $ would my house fetch if I were to sell it in the open market?”
My suspicion is that most of the home-owners selling their houses to these companies are abandoning 10% to over 20% of their equity. Of course this is fine and dandy if the convenience is “worth it”.
BUT . . . Wouldn’t you WANT to know the likely open market selling price before selling?
Well – You CAN!
Simply contact a LOCAL REALTOR and request an appointment to give you an opinion of value before taking action. A local real estate legend Richard Courtney is running an ad on the radio that boils the BS out of it. Essentially (paraphrased), He makes it clear that he (and other REALTORS) are NOT in the business of BUYING your house (at best terms for them) . . . he is in the business of SELLING your house for MORE money than any other company or REALTOR can.
This is true for most real estate sales professionals.
Look for and Learn the truth before leaping.
My inspiration for this post came from daughter Jess who didn’t like the $450 quote from the dealership to fix her car window . . . so she thought and researched and found the right part for $45 on Amazon and installed it herself thereby saving @ $405.
Unless you’re independently wealthy with unlimited money, think more than once.