Property is Power

by Anthony O. Kellum, For New Pittsburgh Courier

It’s a feeling we are all familiar with in some form or fashion. You know the feeling…the one when you see that favorite and overpriced car of your dreams or that beautiful but expensive little black dress and you work really heard and you save, save and save some more and then the day finally comes when you can make your move and but it! The euphoria you feel at that very moment when you can go into the store, online or to the showroom floor to make that purchase. There is a feeling like no other: it’s a feeling of accomplishment and pride. Well…imagine that feeling times 10.

Clearly there are several large and expensive buying decisions you will make in your lifetime. But none are as emotional, financially binding and somewhat permanent as buying a home.

You are going to experience a roller coaster ride like never before. You may be thinking, “Oh yea…well I rode the Millennium Force at Cedar Point and nothing can begin to compare.” But the emotional roller coaster you are about to go on when you buy your “forever home” or your first home also known as your “starter home” will have you singing high and low at the same time.

There are several emotional stages you will feel when going through the home purchasing process. First you decide it is time to buy a house. You’re at a point in your life when you are tired of paying rent and putting money in someone else’s pocket. Then you are excited, anxious and nervous. Your emotions are all over the place, and, after your initial research you are more overwhelmed than ever. You start thinking about number of bedrooms and if hardwood floors are a deal breaker or not. Then you receive your pre-approval from the bank or credit union and you feel mostly excited and then you start to think about how much debt you are about to be in, so now you are as nervous as a road lizard.

However, you’re still mostly excited. YOU are about to buy a house. Your own house! No one can tell you what to do or how to do it in your house. You’re also emotionally invested at this point. You start visiting potential homes and you walk into a kitchen and it just feels right or the moment you walk into the house and immediately know “…uhhh this one is not for me” and hightail your way out of there. And the more houses you visit the more you realize that the vision of your “Dream House” has changed. You realize your “Dream House” is probably unattainable. And so you create a list of your “must have’s.”

Eventually it happened. You found the one. After months of looking, searching and seeking you finally found it. You make an offer and you are sitting on pins and needles. You pray on it and wait to see if your offer was accepted.

And then…your realtor calls to tell you what you’ve been anxiously waiting on. The only thing is it’s not the answer you’ve been hoping for; you were out-bid or something went wrong with the inspection, and now it’s back to square one. And you are disappointed beyond belief, because after all…this was your house. You envisioned yourself there, making memories with friends and family. But eventually, you pick yourself up and keep it moving.

Now that you have regrouped and just when you thought you’d never find the one you find a house that’s even better than the first. You make an offer. And then you wait. But this time, you keep looking—just in case.

Unlike the first offer you made, this time, everything went smoothly! Your offer was accepted, and the inspection was on point and the price was right! Marley Berger, a recent first-time homebuyer said with tears of joy in her eyes, “It’s such an amazing feeling. I did it! I really did it! All of my hard work has finally paid off!”

Now for the real tricky part. You are inundated with a ton of paperwork, the reality sets in on how much this is actually going to cost, you spend an insurmountable amount of time talking to your mortgage broker and you shop around for the best insurance policy for you future home.

The numbers are starting to get real. It feels like the closing costs are getting bigger by the millisecond and your savings are starting to dwindle faster than ice cream melting on a hot summer day. But you suddenly remember that none of that matters because you are now a homeowner and it’s time to celebrate.

And finally, you feel accomplished you made your dream come true. A sense of pride takes over and then you realize you are truly “adulating” and you breathe a sigh of relief. You have a set of new keys and a place to call home. Now go change the locks.

(Anthony O. Kellum is a speaker, author and TV host, and president of Kellum Mortgage LLC)

 

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