Home Buyers : Don’t wait forever for the one
You can drive yourself crazy searching for your dream home. You’ve found houses that have come close. So, the perfect one is bound to appear soon, right? Not necessarily. We know the hunt can be emotionally draining, but at some point you have to go from house hunter to house owner.
Here are three questions to ask yourself ; the answers will help you determine whether it’s time to settle on a home that might not be what your dreams are made of.
Question # 1 – Are my expectations realistic?
Everyone has a dream home. But, there is no such thing as the “perfect” home. There’s always going to be something not so loveable in each house you view. The key to finding the right home is settling realistic expectations. You CAN find a home that meets almost all of what you are looking for. Make a list of your dream features and amenities before you start house hunting – but be willing to let some of those features go once you start looking at properties. It helps to score each feature on a scale of 1 to 10, that way you are on the same page about what amenities are deal breakers and which are simply nice to have.
Question # 2 – How many properties have I viewed?
Once you’re house hunting, it can be nearly impossible to decide when you’ve looked at enough houses. After all, the perfect house could be listed any day now. Go ahead and view online listings as much as you want. There’s no harm in real estate stalking in your spare time, but you should set a limit for actual viewings. If you view more than eight homes, without finding anything, there’s a good chance you’re confused as to what you’re actually looking for. You’re trying to piece together a home that doesn’t exist. Make a list of each property’s strengths and weaknesses, and then get ready to compromise.
Question # 3 – What am I willing to compromise?
If you’ve set realistic expectations and looked at more than a few houses, it’s time to start making some tough decisions. It might feel like settling, but you’ll probably thank us later when you’re finally a homeowner. Just make sure you’re not compromising on something you’ll regret later. If you’re going to compromise, do not compromise on location. If you aren’t sure where to compromise, ask your Realtor. That’s what they are there for!
The exception to the rule
After months of searching (especially in competitive markets), you might feel the pressure to choose something just to achieve homeownership and stop throwing away your money on rent. Sometimes it’s okay to keep looking. When you’re deciding on a home, you should always consider the current market, even if it means you’ll be shopping for a little while longer. If you are having trouble finding a home and you have proper expectations, don’t settle – especially if you’re in a hot market. If you’re in a sellers’ market, homes can go quickly and you might just be missing the window of opportunity. It might make sense to wait a little longer than rush to try to beat out an impatient buyer.
