Looking for the perfect house can sometimes seem like an impossible mission and it’s not uncommon for families to look for months without finding anything. This may seem paradoxical, because real estate markets are developing all over the world and properties sell fast. If you’ve been looking at ads for months and still haven’t managed to find a property that checks all the boxes, Scottsdale realtors are here to give you some insights into what you might have been doing wrong. In some cases the market offers are sub-par and it may not be your fault, but buyers also tend to make these mistakes.
You’re not working with a realtor
It’s the same old debate, looking for a house on your own versus working with a realtor. Supporters of the former option argue that buying a house without a relator saves you money, but you have to be extremely lucky to find something. Realtors have exclusivity on the best properties and nowadays most people hire them to sell their homes because they don’t want to deal with all the paperwork. Independent sellers are hard to come by and, truth be told, they are often unreliable. Keep in mind that refusing the idea of a real estate agent completely means narrowing down your options, especially if you don’t live in a large city. Although you will have to pay a fee, it’s worth it, because you are saving your own time and you won’t be as stressed. Simply tell your real estate agent what you are looking for and they will present you with options that meet your description and fall within your budget range.
You don’t know exactly what you’re looking for
Locating the best property is hard enough as it is, so if you’re not sure what you’re looking for, it will become even more difficult and chaotic. Before you even start looking for a house, sit down with your family and think about your requirements. You may be interested in a single gamily home, or you may be looking for a luxury condo such as the ones you’d find at Optima Camelview Condos. What is an absolute requirement and what is optional? You don’t have to be very specific, because some aspects can change, but you should at least know a few basics, such as: size of the property, number of rooms/bathrooms, year of construction, neighborhood, as well as certain amenities. This will make your search easier for both you and the realtor so you don’t waste time viewing properties that you don’t like.
You’re not flexible
Negotiating is a normal part of the buying & selling process and you should definitely try to lower the price as much as possible. However, you should know when to stop, because the best things in life don’t come cheap. If you have high requirements, but you’re not willing to pay for them, the seller will choose someone else. In competitive markets, it’s common for interested buyers to offer more than the price of the listing to make sure they are even considered. When establishing your budget, keep in mind that you may have to go a bit over it in case you find a perfect property that costs more. To avoid unpleasant surprises, save more than you plan to spend.
You don’t know your local real estate market
Another thing that makes buying a house difficult is the fact that the process greatly varies depending on the real estate market. For example, you cannot compare the real estate in Scottsdale to the one in Florida. Also, the real estate market in one area can change depending on the season. In winter, houses are the cheapest, but the offer is limited because there aren’t that many properties for sale. On the other hand, in summer you have a lot of properties to choose from, but the prices are higher and competition is fierce. You should try to do your research and read into the particularities of your local market or, better year, work with a real estate agent. Ideally, you should wait for the best time of the year to buy a house.
You’re not searching everywhere
Some people choose to go property hunting the traditional way: they walk around their favorite neighborhoods looking for “for sale” signs and then they call that number. This may have been the key to success two decades ago, but now things have changed. Everyone is posting ads online, so if you’re not willing to open your computer, then you’re missing out. You shouldn’t limit yourself to only one directory either. The more websites you check, the higher the chances to finally come across your dream property.
You don’t offer a competitive down payment
Any transaction requires a down payment, no matter its value or neighborhood. This down payment can be seen as a guarantee of interest, an assurance that you will really buy the house and not change your mind later. If the seller has many offers for the house, then they will definitely choose the one that offers a tempting down payment. If you’re buying property through a mortgage, then try to save some money in advance just for the down payment, to make sure that you’re still in the game for buying your dream property.
Last, but not least, remember that patience is key. A house is a very important purchase, perhaps the most important purchase you will ever make in a lifetime, so the last thing you want to do is rush. Don’t settle for something that’s below your standards or that you don’t like, just because you’ve been looking for a house for months and want to get it over with. You will only regret your choice in the future.
Although some people talk about finding a property in as little as one week, you should have realistic expectations and understand that these cases are rare and that usually the search lasts for months. You can never be too careful; don’t let anyone pressure you into buying property, not even your realtor.