Being a home buyer in a sellers market is challenging. Low on market inventory forces multiple buyers to fight over the same home, frequently resulting in multiple offer bidding wars. As a buyer, you need to be ready to jump on an opportunity when it presents. If you’ve started implementing my “5-Steps” then you’re on your way!
When to Be Picky
There are a few things you “Must Have” in your home search and these are going to be the key items we look for. These are things you can’t very easily change after buying the house;
1. The Location
2. The Size
3. The Price
Three items will be the heart of your search. From there you may have some things you really really want, and depending on #1,2, and 3 these are usually easy to find;
4. A Basement
5. A Garage
6. Specific Construction (A Ranch, A Colonial, Etc)
When Not to Be Picky
Focus on what you can’t change. If you need a basement, you can’t add one later. But restricting yourself to only looking at homes with a finished basement WILL hinder your search & cut your possibilities in half. The same goes for things like fireplaces, decks, air conditioners, and cosmetic items.
Know when to comprimise will make your house hunt much less frusterating. We get a lot of calls from buyers that just can’t find what their looking for and a lot of times it takes going through the search criteria and making a “must have” vs “nice to have” list. You’d be surprised at how many more results pop up.
I always say, if you can get 4 out of the 5 things you wanted, then you won!
OTHER HOME BUYING ARTICLES;
Closing Costs: What a buyer can expect to pay