“But, I Don’t Want to Overpay”

This is another objection we hear often. So how do you answer this objection? Same as last week…buy now and wait.

I remember thinking this myself 5 years ago when we bought our new home and we got in a bidding war and we had to pay $11,000 over list price which I believed to be about $6,000 too much per my review of sales comps. Even I, Mr. Analytical, thought “I don’t want to overpay”. Thus, it’s a valid thought or feeling. So, let your clients know this.

But…then I thought to myself that we plan to live at least 10 years in this home and in 10 years will it really matter what exact price we pay today? My answer was “NO!” It didn’t matter if we paid $440k or $446k today if in 10 years we sell our home for $600k or more. Once again, it’s about time in the market and real estate investing is a long-term investment.