Five Tried-and-True Techniques to Control Your Emotions

You’ve probably heard that you need to control your emotions if you’re trying to negotiate a home sale. You simply can’t conduct good negotiations if your emotions are ruling your reactions. To this end, you must be able to control your emotions, or you aren’t going to get the best deal you could get. Here are five tried-and-true techniques to control your emotions and get the best home-buying deal:  

1. Find some perspective.

It might seem like buying a home is the most important thing in the world, but the truth is that there are far more important things. Your health is important; you’re not facing a life-and-death surgery, but instead something that you can survive and go on with your life if it doesn’t happen the way you plan. Keep this in mind.

1. Give yourself enough time.

Creating artificial deadlines is one of the most dangerous aspects of buying a home. Don’t do it. Give yourself enough time to shop around, go through the process, and avoid the need to rush. Maybe you need to stay an extra month where you’re living now. Maybe you stay with friends or parents for a while. Don’t let time bully you.

1. Keep your options open.

You’ll hear it over and over again, but it’s true: keep your options open. Be ready to walk away from the home if the deal doesn’t work out. Don’t accept a bad deal just because you have your heart set on the home. Another one will come along – you just have to be patient and keep your options open.

1. Accept uncertainty.

The home-buying process is full of uncertainty. Even the best plans, with a pre-approved mortgage and a substantial down payment, can always change. And you always have questions at the beginning of a home deal. Accept that uncertainty is going to be part of the buying process, and do what you can to resolve it – but accept.

1. Use tools to retain your objectivity.

It can be difficult to hold yourself at arm’s length when you’re emotionally invested in a home, so use home buying tools to retain your objectivity. A CMA can be a great way to establish a fair-market value on a home; listen to it. Use an agent or real estate lawyer to help you talk through your decisions and buffer you from the negotiating process. These tools can help you remain objective even when you become emotionally invested.

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Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest.  You can reach Steve at 1-515-289-4381 or 515-360-5197.