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How To Avoid Making An Emotional Second Home Real Estate Purchase

Houses are not like puppies. They do not have to ability to give you pathetic doggie eyes from behind the bars of their confinement. Nor do they whine for your attention or plea to be purchased.

But, I swear that sometimes a property calls out to a potential buyer. From the moment they leave the car they are enchanted. It isn't even always the pretty ones. Sometimes a needy, unfortunate ramshackle mess demands the love of a prospective buyer who just wanted a nice little beachfront condo.

When this happens there is little an agent can do. That kind of emotional attraction is a powerful force. At times it seems right to allow such an incongruous relationship flourish. Perhaps the property and the buyer were meant to find each other. But, alas often these star-crossed lovers find themselves in an utterly unworkable situation. Emotional real estate purchases rarely work out. And often the so greatly desired property is dumped within a short time period.

South Padre Island buys are often emotionally based. There are visions of golden weekends frolicking on the beach, and grilled fresh catch from the patio, sandy flip-flops by the front door. All these lovely images seep into the mental picture of even the most jaded investor. And suddenly they find themselves looking at more expense, more maintenance, and fewer rooms or worse rental prospects than they had bargained for.

My advice is to know before you go. Long before you get in to the car to look at properties with an agent or even drive up and down the island streets admiring, make a list. Make a list of features you really want and properties that you really cant keep up with. Know that we are in one of the most corrosive environments in the world and properties here need care. Know that you wont make it down here as often as you want and that the rental market may not always perform as well as you hope. Know that renters will break things and sand will get into everything. Be honest about your handyman abilities and how frequently you want to spend you island time doing maintenance. Or be honest about your abilities to abide by condo rules and regulations, they are governed by group and your personal control may be restricted.

And then know that the real beach dream property, is the one that you envisioned when you set down a budget and an expectation. Make a list, make an agreement with your significant other or make a features list with your agent. Most importantly, be clear about your prospects before you go looking.

Love at first sight may be perfect for selecting a puppy but, real estate relationships work out best with a solid contract and a good inspection report.

About the Author

Wendy Hauschildt is a Licensed Realtor® with Coastal Properties GMAC Real Estate on South Padre Island, Texas. She is a weekly columnist for the Island Breeze paper and directs marketing for the agency. Visit
http://www.SPIproperty.com
for more Real Estate information.

Big boys fight over their toys
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