This year is one that is notoriously difficult for house hunters. With the Coronavirus causing a housing shortage and altering the way realtors can market a home, house hunters are finding themselves in uncharted waters. Instead of abandoning your “must-have” list or your search altogether, use these four tips to reignite your house hunt!
Given the current national conditions, you need to revisit your expectations for how long your house hunt should take. You are not shopping for a home in last year’s market, in fact, you are shopping in never before seen market conditions. Accept this and analyze your expectations to make them fit this situation. The reality is that your home search is likely going to take many months until the “right one” hits the market and you make an offer that gets accepted.
Revisit Your Must-Haves
Now is not the time to refuse any flexibility on your Home Wish List. Identify the key items that you cannot live without (i.e., number of bedrooms, acreage, location, etc.) and be flexible with everything else. Stop looking at features as “deal breakers” and start identifying areas of a home that you can alter as an owner to fit with your checklist.
Work Closely with Your Realtor
Given the condition of the housing market, it is essential to work closely with your realtor instead of going rogue. Your realtor has the tools and motivation you need to find your dream home, and they will prevent you from getting frustrated with your search. Let your realtor know when you make any adjustments to your search criteria that will help them discover more homes to consider.
This is hugely important – do not settle on a home that you really don’t like and do not spend above your comfort zone. While the pressure to make a purchase continues to rise, and buyers are becoming more competitive, you don’t want to make a decision that you will regret a week later. Buying a home is a big life event that should be taken seriously, and you cannot let the pressure of the market force you into making the wrong decision. Take your time and keep your faith that the right house will eventually come along, even if it takes a little longer than you want it to.
We hope these tips help you reignite your house hunt and practice a bit more patience when it comes to finding the perfect home for you. If you are ready to start searching with the help of our expert agents, we would love to connect with you!