Rushing to Find the Perfect Home
If you’re actively looking for a home to purchase, finding the right place is taking longer than you might anticipate. In a poll by the National Association of Home Builder’s Housing Trends, 54 percent of active buyers say they’ve been trying to find the right home for three months or longer.
At the top of the list of reasons for the lengthy home search, buyers say finding a home at an affordable price is the problem, in addition to not finding a home with the desired features they want or in their ideal neighborhood.
Regardless of the extra time, most prospective buyers aren’t ready to give up and will keep searching until they find the right home. In the NAHB survey, buyers who have yet to find a home are expect the following:
* 61 percent will continue looking until the “right” home becomes available in a preferred location
* 37 percent will expand their search area
* 23 percent will accept a smaller/older home than originally intended
* 18 percent will give up trying to find a home until next year or later
* 16 percent will buy a more expensive home than they originally intended.
Only 16 percent said they would end their search if they didn’t find a home soon.
If you’re serious about buying a home, you need an experienced advocate looking out for your best interests. Your agent will expertly navigate every step of the home-buying process beside you, including finding the best property, writing a winning offer, negotiating inspection repairs and cruising through to closing.
“I think that one of the most important things that Buyers can do in this market is to position themselves in the strongest possible way,” Shelley Bianchi-Pell with The Platinum Group, Realtors said. “That means getting pre-APPROVED with a licensed and reputable lender.”
Frankly, the perfect home, (perfect location, size, condition, features and price), may not exist.
Create a list of “musts” and “wants” to identify criteria for your Realtor, but don’t insist on checking everything on the list. Limited inventory means some compromises might be necessary for buyers to find their home.
“In the current market, making as strong of an offer as possible is important,” Bianchi-Pell said. “Do your homework, be prepared, set your expectations correctly and have fun!”
If you’re interested in seeing what’s on the market, call 719-536-4326 or visit PlatinumHomesSales.com.