Every time we work with a buyer, we learn from the process.
The best thing we can do to help improve our process is to not only be mindful of what to do, but of the “what not to-dos,” — we need to share this knowledge with others to ensure success. Below is a list of “what not to dos” if you are a homebuyer.
Take Flaws Seriously
- Your RE/MAX Capitol Properties agents have seen a variety of homes. They can go in the house and assess conditions and advise buyers accordingly, so they are not downplaying flaws. Overlooking concerns in a home purchase can result in costly mistakes, especially if you overestimate your handyman abilities.
Timing Can Make or Break a Deal
- Timing is everything when it comes to purchasing a home. Your agent can provide you with the expertise to determine the right time to present an offer. Sometimes jumping in too fast can be just as risky as waiting too long. The market conditions for the property type you are looking for can help lay a foundation for the appropriate move.
Overbidding
- Make sure you are not reacting to a supply shortage by overbidding out of fear to lose out on the home. By overbidding, you can cause problems with appraisal and resell value down the road.
Not Shopping
- Take the time to find the right home for you. In a housing market, where there is a limited supply, there is a sense of urgency, making buyers act more quickly. However, you want to make sure you are exploring all your options and know that the home you select is the right one for you. The best tactic is to make a list of must-haves, would-likes, and would-not like. You can then use this checklist to assess the potential homes available.
Going Agentless
- Agents are required to uphold ethical rules that they must act in both the seller’s and the buyer’s best interests. When you do not have an agent and begin the home purchasing process, you are not putting yourself in the best bargaining position. By having an agent represent you, you can schedule private showings of homes to have more of a personalized experience when selecting your home, rather than being reliant on open houses. And you can make sure you are spending your time wisely by only looking at properties your agent has vetted first. Agents play a vital role in navigating this fast-paced, complex housing market and are experienced negotiators in your best interest.
Neighborhood and Location
- You need to make sure to like the neighborhood and consider the lifestyle that pairs with the home purchase. This can be especially important if you have children going to grade school or if transportation is a factor. Take into consideration the various environmental factors before purchasing your home and not only on the house and its condition.
