TOP TIPS
FOR BUYERS
Preparing to Buy
Life is not always easy as a buyer these days. Inventory is at historic lows, it’s slim pickins out there!
With several years of an ultra-competitive market, not only does it feel impossible to get a great deal/value, many sellers expect a high premium for even underwhelming properties. Its easy to get discouraged and wonder if there’s any point.
But if you want to own a home it’s absolutely possible to have success and find a house that you love. It’s important to work with a broker you can trust when it comes to giving you honest feedback about the quality of buildings, what to look for, when to hold off and pass on something that on the surface might seem tempting, and when something is a great opportunity.
A few things to remember/keep in mind as a buyer in today’s market:
The bigger your down payment, the better positioned you are in a multiple-offer situation. Buyers with very small down payments are just fundamentally not in a position to compete in a market where properties are receiving multiple offers and often going above list price. They just don’t have as much to work with, literally in cash.
If you don’t have a large down payment it often pays to be smart about your timing and be looking when the market is otherwise slower with less competition, typically in the summer and late fall/winter. You can usually get a much better deal on the same property during this time of year versus the spring.
1.
Be decisive and be quick. There isn’t time for you to take weeks to ponder whether a property is the one, or to go back for multiple showings because you can’t decide, especially not in the spring. Spend time thinking about your ‘must-haves’ and your ‘nice to haves’ early, so that when you go out and see potential properties in person, you’ve developed that certainty and know quickly whether a place is ‘the one’…
2.
Work with an engaged broker who is looking at homes for you daily. Many brokers set up a search and don’t look at it again, assuming you are looking through everything and will let them know when you want to see something. You don’t always know what’s an amazing opportunity the same way that we do, and it shouldn’t be.. it can’t be only on your to make sure you don’t miss anything, that’s why you are working with us! Work with someone who is actively looking through all of the listings every day for you, who is sending you places that they think would be a great option to make sure nothing slips through the cracks. I’d rather send you something and have you pass than miss something that you could have loved.
3.
Make sure you have a basic understanding of the overall process. I can’t tell you how many brokers work with clients and never actually sit down with them and explain how the buying process works. Even if someone has bought and sold in the past, I always have an initial consultation with everyone who I work with, because they haven’t worked with *me* before. I want to make sure that I understand your needs and expectations of the process, and that you understand the overall process and have all of your questions answered before we go out and see even one property.
4.
As an Architect, Interior Designer, and Real Estate professional, I could talk about the curation and creation of that unique “home” feeling all day long.
Have questions about the buying process? I’d love to connect with you and see how I can help.