Scenario 1: You want the home
- Determine your best offer. Work with your real estate agent to identify your offer price as well as other terms: financing, appraisal, inspections, etc. Your agent should research the comps (similar homes that have sold in the area) and should inform you of the best strategy to get your offer accepted.
- Wait and be patient. As soon as your agent hears something, you’ll be the first to know. Agents do a lot of work behind the scenes, and a good agent will be proactive and reach out to the listing agent for updates, so don't take silence as a bad sign.
- Don’t ignore your budget. It’s better to hold out for a home you can afford than to offer more than you're really comfortable with and then get buyer's remorse later.
- Keep in mind the home inspection. If your offer is accepted, you should have a general home inspection, along with any others recommended by your agent. You will learn about any potential problems or issues and then negotiate with the sellers on repairs or credits.
Scenario 2: You’re not sure
- Sleep on it. If you’re not 100 percent sure, get a good night’s rest and see how you feel in the morning. Depending on how long the home has been on the market, you may or may not have time to think it over. But no need to rush if you are unsure!
- Know your deal-breakers. Which features match up to your list? Which don’t? Do the pros outweigh the cons?
- Go back for a personal tour. Take a second look with your agent, and bring a friend who can offer a fresh perspective and honest opinion.
- Consider your lifestyle. When you imagine yourself living in the home, is it still a good fit?
- Think about add-ons. Does the home need any updates or repairs? What will maintenance entail? Consider all the extras to see if the home still feels like a good deal.
- Revisit at different times of the day. Make sure the property and the neighborhood suits you at all times around the clock.
- Trust your gut. If your inner voice of reason is chattering away, try to figure out what it’s telling you.
Scenario 3: You hated the home
- Identify the issues you didn’t like. Remember them when you visit new listings.
- Broaden your horizons. Expand your search into areas or features you haven’t yet considered.
- Don’t settle. There’s a big difference between making a few small compromises and making a big mistake you’ll have to live with for years.
The final lesson: Don't go it alone! Get in touch with us to talk more about the process of buying a home, whether it's your first or your fifth! Email stacy@stacywardrealtor.com to chat!