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Are You Too Picky to Successfully Buy?

realtor showing home to familyToday’s housing market definitely leans in favor of the sellers for now, mainly because of a limited number of homes for sale and an influx of people ready to buy. So for potential buyers, this may mean they have to become a more competitive, strategic shopper and recognize when they are perhaps seeking “perfection” that they may never actually find in this current market.

Today, those “perfect”, highly sought-after homes do not have a “for sale” sign on their lawn for long. Often, homes with broad appeal have a couple offers on them before most buyers can blink an eye, never mind schedule a showing.

So, how do some buyers succeed in their search while others feel like they will never find the right home and get their offer accepted? The key is to approach home shopping with a strategy and realize if you are making mistakes, or have such specific requirements, that are sabotaging your own efforts to buy.

Here are the top 3 ways you may be sabotaging your home buying experience:

  • You are too picky: We all have a list of must-haves and deal breakers, but if your list is long, fairly rigid, and has quickly eliminated every single house you look at, you might want to reexamine your list. Say you see a really beautiful house, but the cabinets are cherry and you wanted white cabinets? Can you live with the white cabinets and consider refurbishing them in the future? Is the rest of the house meeting your needs and wants? This is where you must start to determine if there is any place where you can be less specific about what you must have. Things not to compromise on might be: proximity to a major highway versus your desire for living on a quiet residential street, or major structural damage to the home or its major systems. Essentially anything you cannot change or will cost you significant amounts of money to fix should not be where you compromise. But the color of carpeting or cabinets is a place for wiggle room.

  • You are lowballing when you place an offer: We get it. You want the best deal possible. But trust your Realtor to advise you what the home is worth in the current market and make your offer based on that plus the reality that other buyers also want this home. Lowballing does not work well in a highly competitive seller’s market.

  • You are a bit too leisurely: Though your schedule maybe difficult to rearrange, when a great potential home hits the market you do not have time in your favor. Schedule to see it as quickly as possible and be prepared to act quickly if you love it. Waiting even a day or two can cost you that home.

You can successfully find a great home and see yourself with the keys to the front door and your name on the mailbox. It just takes strategy, reasonably quick action, and perhaps a bit of compromise where it is needed in order to make it all happen.

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