Keeping expectations in check can lead to a better outcome

One of the more curious realities about property is that often owners see their home’s as a tangible demonstration as to their success in the world. The cliche about “keeping up with the Jones’” has stood the test of time for a very good reason. It is simply human nature to want to project the best versions of ourselves and maybe even a little envy here and there. Don’t worry, I am not going to get super psychological here, rather I want to talk a little about adjusting expectations.

Often when I speak to my clients at the outset of the purchase or sales process, it always helps to remind them (in the kindest but most candid terms) to anticipate a middle of the road result. This is especially true in this market when options are limited because of a stock shortage. Chances are there is not going to be that magical property that ticks everything on your wishlist.

When it comes to honing your expectations it is important to keep perspective and an awareness about what really matters. When on a real estate journey, sacrificing in the immediate and keeping your ego in check can mean big financial wins for your future.

Moving into an area that has good schools, public transport and access to the water is far more important than getting a fancier home in a less desirable location. Basing your buying decision on where you want to be in ten years from now is the best strategy as no home is a “life sentence”. You can always upgrade to a bigger and better home when the time is right. So, lowering your expectations before you venture out to see what is currently on the market can be advantageous. Chances are, you will be happier if you don’t shoot for the moon before you see what’s in the stars.