Navigating the market as a buyer can be challenging. Not seeing anything on the market that feels right? Do you keep losing out on multiple offer situations? Don’t give up! This week’s article is for you, here are my top tips for securing the perfect home when it feels the search just isn’t going your way! My name is Isabel Livingston and I am a licensed Real Estate Agent with The Jennifer Gale Real Estate Team and Gale Group Realty Brokerage Ltd. serving Wilmot Township, Oxford County and surrounding areas.
First thing I want you to do is have a look at that wishlist you have created, you know the one that has all the details that you may want in a home, 3 bedrooms, 2 bathrooms, a garage, open concept living, fenced backyard, a pool. Now I want you to go down that list and mark each item with an “N”, a “W” or a star for need, want, or non-negotables (don’t abuse this last one – this is for things like a garage for a snowmobile or motorcycle that aren’t quite a need but are more than a want”… Do you see where I am going? Just humour me and send your Realtor a text or give them a call and give them this “new” list with all of the things marked with an “N” or a star such as 3 bedrooms, fenced backyard, garage. Reason being I can’t count how many times someone wanted a garage and ended up purchasing something that wasn’t within that guideline of what they initially thought they wanted.
Next thing I want you to do is watch the market. Having a healthy understanding of the value of a home and knowing what is realistic to your budget will help you have a realistic approach to finding a home. I always tell my buyers to have a look at the market and how homes in the area they are searching in are priced before they create that list. Knowing what you can afford and what sorts of things fit into your budget is essential to creating a healthy and realistic approach to shopping for a home. To go along with this, have your Realtor keep you up to date on what the homes you view sell for – even if they are homes you’re not interested in. Not to sound like a broken record here but having an understanding of what things sell for will better your understanding of what is happening in the market and ultimately benefit your home search.
Now you have finally found a home that feels just right and are ready to make an offer. There are two scenarios I want to talk about here. Firstly is when your offer is the only offer, you have no competition but you also don’t want to offend the seller. I want you to take that knowledge you have gathered through looking at the homes that are coming up, the information your Realtor is sharing about sold prices and the expert advice they are giving you about the homes value (friendly reminder, your Realtor is on your team, they won’t want you to over pay for a home either!!). Create your number based on the facts you have gathered! The second scenario has a similar approach but this time the seller is receiving another offer on the home as well. Use the same techniques to get you your ballpark number and then work to create the most appealing offer that still protects you and your best interests. Your Realtor will be able to guide you through this process. There may not be a chance to negotiate here so make sure you are putting your best foot forward with your initial offer.
There is a ton more where this came from, if you are looking for more tips about buying or selling Real Estate I would love to chat! For questions, comments or article inquiries don’t be shy – 226-232-4236 or il**************@***il.com.