Resale, my ass!

House-flipping has become a profittable fad lately. So much so, in fact, that the term "resale" has become part of the whole house-flipping mantra; second only to the classic real estate phrase "location, location, location," is "resale, resale, resale." With a glut of reality television shows perpetuating the idea, the term has also infiltrated common language and resale is on the top of everybody's collective mind -- the latest buzzword -- as they shop for a new house.

But unless you are in the business of flipping houses, you'd be a idiot to let resale value drive your house purchase decision. Here's a list of reasons why:

1. A house is made for living in and it should suit your every need.

Huh. Pretty short list. But this is because this one item should be your primary objective. Will you sell your house in the future? Probably. Will you want the biggest bang for your buck when you do sell? Absolutely. But in the meantime, should you torture yourself for two years, or ten years or thirty years with a house that suits the traditional nuclear family with three bedrooms, two bathrooms and a two-car garage even though it doesn't suit you and your pet fish?

Think about it. If you have a busload of kids, get a house with a busload of bedrooms. Don't have any kids? Build a one bedroom or renovate a loft. Artist? Make sure you have a studio with plenty of windows facing north. Car collector? You'll need a 10 car garage. Don't have a car? Don't get a garage. Eccentric? Build a house out of straw bales or old tires or a wacky, off-the-wall modern design.

The truth of the matter is the house should suit you first and get you money second. This makes a house more than a house; it makes it a home. It makes it comfortable and makes it more likely that you will be happy in it for a long time. The only people benefitting from having resale as the primary consideration are the real estate agents. Not only do they have an easier time selling the homes they show, they sell more of them because the owners want out of them sooner because they don't match their lifestyle. This whole dilema has created a false economy and we've now seen the disastrous effects the collapse of that economy has done for the entire planet.

And consider this: you are the market. And don't let a real estate agent tell you otherwise. Chances are, if you want a particular feature in your house, someone else does too. It just might take longer to find that buyer when you go to sell or your real estate agent will have to market harder and think outside the box. Developers and real estate agents must also realize that traditional markets are changing and there is a greater desire for diversity in housing choices, particularly from younger buyers. Resale isn't everything.

Remember -- a house and a home are two very different things. There is a reason the business is not called "home flipping."