Hey I’m Deborah Razo, founder of the Women’s Real Estate Network, also known as WREN. Have you ever wondered how buying shoes is like buying properties? Let me explain.
Most women like to buy shoes. Not only do we do it well we enjoy it. Why is it when it comes to a little bigger piece of real estate we all of a sudden don’t know how to make a good purchase. Here’s the thing, buying real estate is a lot like buying a pair of shoes… here’s 3 ways how.
In real estate there is a saying what’s most important… Location location location – it’s true! So, where are you going to wear these shoes? Very important to know what is it you are looking for. Flip flops or Jimmy Choo’s? It matters where things are located.
We’ve seen a good deal and yet the fit isn’t quite right. Come on ladies, we’ve all done it. Too tight in the toe, just a hint too small? Yep, and we bought it anyway. But did it work out in the long run? Nope. Real estate is the same. If you don’t know what you’re going to with the property and the fit isn’t right… what’s the point? You will just end up blistered in the end.
So if the location is right, what’s next? Price, of course. Let’s face it, when we really want that pair of super amazing expensive shoes, we start to really shop. You know this goes… how can I afford those shoes? I need a discount. How can I get it? Google shop, discount codes, figuring out ways to afford the item we sooo desire. Can’t we apply those same tactics to real estate? If we have a property that we are interested first you need to SHOP!! We need to know what the best price we can get it at? How do we do that? We google shop it! That’s right, we formulate comps (comparatives) to zero in on what that property is worth. Just like you would never compare flip flops and formal heels… you have to do the same in real estate. Compare apple to apples and get a specific idea of what you are willing to pay.
Next, the purchase. Just like a great shoe purchase will get your heart pumping so can a real estate purchase. What’s next? The offer. Let’s face it shoes don’t just walk to you… you have to go get them, order them… in other words DO SOMETHING to get it. It’s just like real estate, you’re not going to get it if you don’t DO SOMETHING! Make an offer! You’re not going to get anything without making a move toward it.
Ok, those are my 3 tips to making real estate purchases. Now go out there and add to your real estate wardrobe!
Hopefully these tips will help you out. Don’t forget to sign up for our emails at WRENinspires.com for more helpful tips.