Have you ever served on a committee? How they work is interesting. Place any ten decisive leaders into a committee structure, and quite often no decision can be reached at all. Hence the phrase, “a camel is a horse created by a committee.”
What do committees have to do with buying a home? Plenty. Say a young family decides to buy a home. The husband and wife work well together and can easily reach a joint decision. They decide, however, to include their relatives, or possibly a few friends in their home search, even though they will not occupy the home.
The committee has been formed. Each member approaches the various homes from a different perspective – forming personal value judgments — and expressing them. Soon — there is no hope of reaching a consensus and the entire home purchase scenario is “tabled” for lack of a decision. The committee has performed according to expectation!
What went wrong? The two decision-makers who are ultimately responsible ceded their authority to others who have no vested interest in the final outcome. The purchasers are left with confusion, indecision, and no new home.
Many times a young couple will spend several weeks touring homes. The will eliminate the ones in poor condition and ones that just don’t fit their needs. Then when they finally decide on the home, they bring friends or relatives to the final visit. These friends and relatives have not seen all the other properties and decide the young couple don’t have the wisdom to make the decision. Many of these friends and relatives have not been active in the current real estate market, so they may not be the experts they believe they are. So, the young couple continues to rent and continues to put money in their landlord’s pocket. They loose out on the tax deductions and miss the opportunity to start building equity. Usually, the young couple does have the wisdom and has used good judgment to select the home. They have seen everything else in their price range and chosen the property that is in the best condition and best priced.
When buying your next home, include in your search only those who will occupy or help finance the home. Invite your friends and relatives to visit after you take possession of your new home. Trust your own judgment and the guidance of your real estate professional. Avoid the indecision and confusion of the committee.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.