Mortgage Blog

I had a doctor appointment today. And the doctor asked my career and I told him that I am a mortgage broker. Then he asked whether it is a good time to purchase s property. 

First, let me share my experience. I purchased my first property about 20 years ago for 400k. And I do not care and it did not make much difference whether I paid 400k or 420k or 390k. After 20 years, it did not make any difference now. So I told him if he is planning to purchase a primary home now, the most important thing is the location. It includes two parts, close to work and in a good neighborhood. 

We think too much about “investment” when we purchase a property. Is it a good time? Is it worth the price? We forgot the enjoyment the property ownership brings to us. 

And if we are getting older , we found that we made lots of mistakes, the “purchase property price too high” is not one of the worst. Eventually you are happy that you made the decision a few years back. And it was very cheap in today’s market. 

And for the whole life, we have lots of other opportunities more important than the decision of purchasing a house: the selection of the spouse, work the right company, make right investment decision etc. Make mistakes are “normal” for the life. And we could not just maximize the returns on everything.