From a very wise lender in Illinois comes this great piece of advice for first time buyers. The points made are just as true here in San Mateo County and the Silicon Valley as they are in Illinois or elsewhere.

While I know very few buyers who didn't need to tighten the belt a bit, especially during that all-important first year, one needs to do so in a thoughtful, considered way. Let me know if I can answer any buying or selling questions as they pertain to our San Francisco Peninsula market. The goal is to make Peninsula Living better!



young couple


     Many times I am asked by young or first-time buyers what my #1 piece of advice for home buying is.  They are surprised to hear my response to that question, because I say something that they probably don't hear from many lenders  ...

     Don't Buy a Home!

     What??????  Blasphemy!


     Once I have their attention, I clarify my statement ...

     I tell them ... Dtax crediton't Buy a Home ...

  • Just because a tax credit is presently being offered!
  • Just because a tax credit runs out soon!


  • The timing is not good for you to do so either monetarily, emotionally, or for any other reason
  • If you're not prepared to be a GOOD homeowner and perform the tasks needed for upkeep
  • If you're not prepared to make sacrifices
  • If you can't budget your money and live within your means
  • Just because you think prices are going to go up on homes soon
  • You do not understand the buying and lending process
  • You don't care to learn the buying and lending process. 
  • You will not devote the time to learn the home buying process
  • Without proper professional representation, assistance, and guidance
  • Your eyes and desires are bigger than your present wallet
  • You have to deny yourself every other life's pleasure to buy a home

    white house


      Why do I say this?  Because buying a home is work.  It comes with responsibilities.  It can cause stress.  It costs money, time, effort.  

     I also tell them that home payments are an obligation you are promising to make.  Those obligations and responsiblities should not be taken lightly.  You need to enter the world of home ownership with your eyes wide open, fully educated, and prepared.  To be otherwise for any other reason can mean financial disaster ...


     I tell them to pass on the current temptations to buy ... unless you have educated yourself thoroughly about the home buying process and the obligations and responsibilities that come with being a home owboxesner. 


     If ... after you have thoroughly educated and prepared yourself .... you still wish to proceed ... I urge you to then move foward and buy ...

    For if you are fully prepared and know what to expect of the experience ... you will enjoy the home buying journey and be glad that you made the effort.  

     That's my advice. 

     There is nothing better than owning your own home ... IF IT'S THE RIGHT TIME FOR YOU TO DO SO!  Otherwise ... wait. 




--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®


CA DRE#10215160; 650-465-4547



Peninsula Living Business Page




Comment balloon 5 commentsLottie Kendall • February 06 2010 05:37PM



This is some very sound advise that any prospective  first time buyer should give a heads up to. I often worry about first timers getting over their heads and do my best to prevent it.

Posted by Trey Thurmond, College Station , Texas Homes (BCR Realtors) over 10 years ago

Lottie - now there is a man with an attitude. The right attitude, buying a home is not for the faint of heart, it is one of the biggest stress's a marriage can endure

Posted by Kathy Clulow, Trusted For Experience - Respected For Results (RE/MAX All-Stars Realty Inc. Brokerage) over 10 years ago

Hi Trey. I couldn't agree with you more--and Gene made his points so eloquently.


Kathy, the attitude is great, isn't it? Moving ranks close behind death, divorce and marriage as being a high-stress factor.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 10 years ago

Good advice for buyers. Thanks for the reblog.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 10 years ago

Glad you found it, Gita. I thought Gene gave a nice, clear, concise list of things buyers should contemplate before actually buying.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 10 years ago