Tips for finding THE ONE
Searching for a home can be exhausting, frustrating, and sometimes even infuriating, we get it! But while you’re in the heat of the search, it’s helpful to remember that this is a search that is well worth your time. You’re looking for a place not only to call home, but that can serve as your sanctuary, office, entertainment center, and maybe even your retirement fund. And so, as you navigate the world of real estate, we thought it would be helpful to give you tips in finding THE ONE.
Patience is a virtue
But it’s also essential when it comes to looking for your next place to call home. We’re experiencing some of the highest rates of demand in history, which means patience is needed now more than ever before. We have more people looking to buy homes than there are homes available, so the market is tight. The first thing to remember, no matter how helpless you may feel, is that this is completely out of your control. No matter how much you worry or stress, the number of houses on the market will not change. This is an opportunity to put patience into practice. “Good things come to those who wait,” you’ll see.
Be ready to compromise
Okay, you know exactly what kind of house you want, in what neighborhood you want it, with a particular lot size, all within a price range you’ve determined – great! But also, not great. Having a list of mandatories is crucial (absolutely necessary) when buying a home, but it’s just as important to know what aspects of a home you’re willing or able to compromise on. There are a variety of categories you can compromise on to make your search for THE ONE more realistic, like:
- Price
- Condition
- Size
- Garage
- Style
- Lot size
- Distance from job
- Distance from family or friends
- Neighborhood quality
- School quality
- Distance from school
Whoever is involved in the home-buying process should work together to determine what areas you’re willing to compromise on. Maybe you decide that your home absolutely needs to have a 2-car garage, but that you’re willing to live 20 minutes farther away from work to have that garage. Or maybe you require the home to be walking distance to your son’s school, but in exchange you are OK with a smaller backyard. Having these discussions at the start of the search will save you countless headaches down the road!
Set your priorities
Prioritizing goes hand in hand with compromising, you want to determine what is most important, and what can be considered a bonus. If you live in a cold climate where snowfall is common for 6 months of the year, then you might prioritize having an attached garage over having two sinks in the master bathroom. Or, if you’re an avid gardener, you may choose a property with a large yard over one with an unfinished basement. There are countless considerations, and they are all customizable based on your needs and expectations. Make a list of priorities, and be sure to check back on it often; bring it with you any time you’re viewing a home! You may find that those priorities shift depending on the property you’re visiting that day. This will help you stay focused on the search at hand.
Commit to THE ONE
Remember the days of back-and-forth negotiating? Well, forget them. With a market as tight as it is now, commitment is the name of the game. If you find a property you’re ready to make an offer on, then this is your time to show how much you want it. You want to start with your best offer. If the home truly is THE ONE for you, then there’s no point in risking potentially insulting the seller, or losing out to another buyer, especially if you have the financial bandwidth to make a strong offer.
This is an opportunity to turn to your real estate agent for their expertise. They know the market, understand its inner-workings, and they are your inside eyes into what you can expect. Listen to their guidance, and to your gut.
If you’re looking to buy a home in this tight market, look to your real estate professional for guidance. Here at Metro REIG, we’re a full service brokerage committed to helping individuals with their real estate needs. Give us a call, and let us help you find THE ONE.
