Posts
6761
Joined
8/30/2008
Location
Stockholm, SE
Edited Date/Time
6/8/2012 2:56pm
I have bough a lot of cars and motorcycles in my life, but still feel there are so factors that one cant control at all, as what's going on in my mind and in others during a buy and sell, especially when there's bidding going on. Ebay is really a strange place where many times the auctions ends with a higher price than the initial "buy it now".
Example, I had decided to buy a smoker some years ago, it was an SXS KTM 250 which I really felt I wanted, but at the time as a student, I really couldn't afford it. But this spec bike was on out on a very low price, because it needed work, but some other opportunist had noticed it as well, and we ended up in a bidding war, which he won. I'm not used to that at all when buying dirtbikes, usually you bargain. The seller was asking about $2000, I said sure, but only to find out that there's was another guy interested as well, so we started raising the price to a point I felt, screw this. I think it ended with $ 2600. Now I feel good that I didn't get, but I remember how tormented I felt at that point when I let it go for just $100 more than I felt it was worth. I had an imaginary roof, and it was $2500 and later I regretted that I didn't just say so to start with to scare the other guy away, like I mean business...
The OT thing is, that now I'm about to end up in the same shit, but this time with a HOUSE! And those $100 makes a damn difference. There's one bid at this point for the original value, the broker thinks it will land about 10% above this, depending on the bidding of course. Should I go all in with that 10% increase to start with, with the risk paying to much since there's a chance it will go for 5% above? Or should go for the 2% increase thing that usually happens?
Sorry for busting your balls about it, but your input is appreciated.
Example, I had decided to buy a smoker some years ago, it was an SXS KTM 250 which I really felt I wanted, but at the time as a student, I really couldn't afford it. But this spec bike was on out on a very low price, because it needed work, but some other opportunist had noticed it as well, and we ended up in a bidding war, which he won. I'm not used to that at all when buying dirtbikes, usually you bargain. The seller was asking about $2000, I said sure, but only to find out that there's was another guy interested as well, so we started raising the price to a point I felt, screw this. I think it ended with $ 2600. Now I feel good that I didn't get, but I remember how tormented I felt at that point when I let it go for just $100 more than I felt it was worth. I had an imaginary roof, and it was $2500 and later I regretted that I didn't just say so to start with to scare the other guy away, like I mean business...
The OT thing is, that now I'm about to end up in the same shit, but this time with a HOUSE! And those $100 makes a damn difference. There's one bid at this point for the original value, the broker thinks it will land about 10% above this, depending on the bidding of course. Should I go all in with that 10% increase to start with, with the risk paying to much since there's a chance it will go for 5% above? Or should go for the 2% increase thing that usually happens?
Sorry for busting your balls about it, but your input is appreciated.
I have purchased a few primary residences & rentals over the years as well. It IS a business decision. However, you also need to look at the intangables. How is the nieghborhood currently & how will it be 10 years down the road? How big is your family? Will you outgrow it in 8-10 years? How is the road access? I could literally go on for hours on this. I WILL pay more for a better investment. 10K on a 30 year 6% loan PMIT is aprox $70/mo. extra.
Good luck!
Put a bit of cash in lessons, and it will go a long way with whatever bike you're on.
I then go through this stage promptly after:
The Shop
Luxon 4-Post Bar Mounts
$189.95 - $239.95
DeCal Works Huge Plastic Inventory of UFO and Polisport kits.
http://homebuying.about.com/cs/howtobuy/a/buyer_remorse.htm
If the place has a solid core, you can always accessorize and upgrade when the money allows, much like buying a used bike. The base questions are:
1) Does it meet your needs for space now and for whatever time frame you are thinking you will live there (persons AND stuff)
2) Can you afford the payment, including taxes,utilities and projected maintenance such as grass mowing, cleaning services, yearly HVAC services, etc. Decide this based on your REALISTIC expected income. You or your wife staying home with your daughter and living on one salary vs. both parents working and paying for childcare can be very different $$ or very similar. DO NOT "dream" that you and your wife will both be making $100,000+ and that your daughter will receive free day care when reality is you will both be working for $50,000 and day care will be running you $10,000 per year (this of course is based on the US way of living and could be very different from the way of living in Sweden).
3) How long do you expect to be there and what will you do with the place in the future? If it's a short term deal, do you really need the latest and greatest? Are you planning to keep the place as a future rental or retreat?
I remember what you went through when moving to Cape Cod, all the questions and figuring out what to do about a vehicle and dirt bike. This is not too much different.
Good luck and remember, it's really only a shelter and humans are very adaptive creatures!!
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