R.E.I.G.N – Orlando Real Estate

Part 2 of the Joe Shmoe Buys A Home series.

Read Part 1: The Honest Intro for First-Time Buyers

How understanding your “why” saves you money, time, and regret

Buying a home can be one of the most rewarding experiences you’ll ever have Joe. It can also be one of the biggest nightmares, especially if you’re doing it alone. Rest assured Joe, I’ve got your back. Before you tour houses or call lenders, there’s one question you have to answer. One that separates confident home buyers from frustrated ones. Why? Why are you buying a house Joe?

Buying a Home Starts With One Honest Question

Before we even talk about houses, lenders, or contracts, Joe, you need to answer one simple question: Why are you buying a home in the first place?

It sounds obvious, but you’d be surprised how many people jump into this process without ever thinking it through. They get caught up in the excitement of scrolling listings and touring homes. Suddenly they’re knee-deep in paperwork, inspections, and stress wondering how the hell they got there. The truth is, knowing your “why” upfront will guide everything else you do from here. It’ll shape your budget, your neighborhood search, even the type of home you buy.

“Three out of four homebuyers … say they have at least one regret about the home they bought.” Zillow.com

So, what’s your reason? Are you tired of throwing money away on rent? Are you looking to build equity? Maybe you’re starting a family and need more space or downsizing now that the kids are gone. Some folks buy because they think it’s just what you’re supposed to do once you hit a certain age. And hey, there’s nothing wrong with any of those reasons as long as you’re honest about which one is driving you.

Here’s why it matters, Joe: each reason comes with a different set of priorities. If you’re buying strictly as an investment, emotions can’t cloud your judgment. You’ll care less about the color of the kitchen cabinets and more about resale value, rental potential, and appreciation. If you’re buying your “forever home” then school districts, work commute times, and the neighborhood feel take center stage. And if you’re buying because you’re just done paying a landlord, then your biggest priority might be affordability and building equity fast.

According To Zillow.com: “Only 12% of buyers … said they were willing to commute an hour or more.”

It’s Not the House That Breaks. It’s the Plan.

Make sure that you and your partner are on the same page with your why as well. I have seen disputes over this cost marriages. Both knew the other had a different why, but both assumed the other would change their mind. Being on the same page, or at least compromising and blending the pages, is critical to moving forward in harmony.

Here is an example: Joe is buying the house to live in for a couple years and knows it’s a great renting neighborhood. He plans to live here for three or four years and then rent it out and buy something new. Joanne, his partner, her why is that it’s part of the best school system in central Florida and Joe Jr. needs the best education. Well, in three years, Joe is ready to sell, but Joanne is furious that he wants to move Joe Jr. to a worse school district when this house is fantastic for their family. She wants to buy another home to rent. Joe tries to explain that they can’t afford that, because this area is the best in terms of rental income, but too expensive to buy in again. When your whys don’t match, it’s not the house that breaks. It’s the plan. And sometimes, that can take everything with it.

Stop Looking for Perfect. Start Looking for Problems.

One thing that I found helps with your why, unbelievably, is to start with the negatives when evaluating a home. People, in my experience, are optimists. They will look at the home and see everything that works for them. All the great, new, shiny things. Negatives may come up but they are often disregarded as a future problem. I want you to flip this when you evaluate. Start with the negatives. Maybe it’s an hour commute every trip to work. Is that a sacrifice you’re willing to make? Maybe little Joe Jr. is only six months old now, but he’ll eventually be going to school, and the school systems have terrible ratings. Is this something you’re willing to deal with in the future? Framing it this way forces you to evaluate the home from the worst-case scenario, instead of being surprised later. This way, you can work out a plan BEFORE you buy on how to deal with the negatives in the future. Final tip, if the house is perfect then you need to dig more. No home is ever perfectly suited for every situation. While this may sound like I’m being pessimistic, this is the way that you ensure you’re informed and prepared. Rose colored glasses are super nice until life forces you to take them off.

Let me give you a real example. Years ago, I had a client we’ll call Joanne, who absolutely fell in love with a home here in the Orlando market. Beautiful little place, three bedrooms, one bath. It was only two blocks from her mother and right across from her work. The neighborhood was a close knit one, and homes didn’t sell often. Joes why was that she was getting married and blending families. She had two kids. Her soon-to-be husband had three of his own, ranging from six to fourteen years old. I brought it up more than once that this house probably wasn’t the right fit for the soon to be large family. Three bedrooms, one bathroom, five kids? You do the math. However, Joanne was convinced they’d buy the home and remodel. They would add a fourth bedroom, another bathroom, and make it work. I even pulled the county ordinances for her and showed her in black and white that adding on was next to impossible given the zoning and building restrictions. She shrugged it off; told me they’d get a variance and that her husband was a contractor. Long story short? They never got the variance. Two years later, Joanne called me. They were trying to rent the house out and buy something else because it didn’t work for their family. Luckily, the market had shifted enough that they were able to rent the place and eventually came back to me to buy another rental property and a proper family home. But that first buy? That was a costly lesson in not knowing your “why” upfront.

Get This Part Right, or Everything That Follows Falls Apart

The reason I’m telling you this, Joe, is simple: buying the wrong house for the wrong reason is expensive. It costs you time, money, and in some cases, your sanity. You need to nail this now because every decision that follows hinges on why you are buying. Get it wrong, or worse, never answer it at all, and you could find yourself locked in a home that doesn’t fit the life you’re trying to build.

Before you move on, stop here and ask yourself a few key questions. Be honest because no one’s grading this but you:

1. What’s driving me to buy right now? Is it financial? Emotional? Pressure from someone else?

2. Is this a short-term home or my long-term plan?
3. What major life changes do I see coming in the next five years? Marriage? Kids? Career moves?
4. Am I buying for me or am I buying because it feels like “the next step”?
5. What does success look like for this purchase? Is it profit? Stability? A place to grow?

The clearer you are about these answers, the easier the rest of this journey will be. Trust me Joe, skipping this step is how people end up like Joanne, calling me two years later wishing they’d listened. Write it down if you need to. This is your foundation.