The shops are full of hearts and roses, and restaurants are booking up. Valentine’s Day is just around the corner and we’ve got our rosy glasses on, because this is the month of love.

Between booking restaurants and ordering flowers to woo your dream date, you might also be surfing real estate sites, looking for your dream home. But do the rules of love apply to real estate? Here, we help you decipher head from heart, so you can make the best purchasing decisions.

Valentine, home loan

Buying with your head, not your heart

Every now and then, we step into a property that grabs us completely. We are in love. Everything about the property feels perfect.

But before diving in head first, take a big breath. Buying a house is a BIG decision, and not one that should be rushed.

  • Make all your calculations, and ensure this is a home you can afford. Talk to your Smartline Adviser about your options.
  • Do your research. Check out comparative houses, and investigate the local property market.
  • Organise building and pest inspections
  • Check out the local area and nearby facilities like schools and transport.
  • Chat with the agent about local development plans for the area.

While love can be an important ingredient in both dating and buying real estate, don’t let it blind you or stop you making rational decisions.

Don’t appear too desperate

Okay. You are in love. We get it. But before you go yelling it from the rooftop, hold tight. If you let the selling agent know how much you love a property, you are giving away your bargaining power. Agents are skilled at reading emotions and expressions, so if they twig that you are in love with a property, they know they can get more out of you, and you may end up paying more than you need to.

Keep your options open

Imagine your heart is set on another person. They are perfect. You want them to love you, and nothing else will do.

But what if that person is not available? What if, in fact, they aren’t right for you at all?

Our search for our dream home has a lot in common with our search for a partner. If we put all our eggs in one basket, and focus on one property, we risk missing out on other properties that might be more suitable.

Make a list of potential properties. Do your research into each property, and don’t skimp on calculations. If one property sells at a higher price than you are willing to pay, you still have a chance at securing one of your other dream homes. Don’t lose hope.

Take the plunge

Having said all that, don’t be afraid to love. If we sit on the fence, and spend the rest of our lives aimlessly trawling real estate sites looking for the characteristics of a perfect home, we might miss what’s right in front of us. Sometimes, we just need to take the plunge, check it out and see if it’s ‘The One’. Maybe you have more chemistry with a property than you originally thought.