In this post, we'd like to offer you a simple three-question tool to ask yourself when you start looking for a property.
It’s understandable that when a first-time homebuyer enters the Real Estate market, they are nervous and apprehensive – and with good reason: buying is a major life decision! From the get-go, any buyer should take comfort in knowing that millions have felt exactly how they’ve felt. But once they get through the first few steps of looking and start figuring out what they need, what they can afford, and what’s available, the situation becomes much simpler. (We all deal with complex things in our lives, let’s try to make at least one aspect of it easier.)
So, for you, the same rules that apply in most other market contexts also apply in Real Estate. Whether you’re buying a home, renting, or investing in development property, it always comes down to these two questions:
What do you need (or want)?
What can you afford?
If you always keep these two questions in mind, it is a great help to yourself and to the agent(s) you’re working with. There are a lot of different kinds of houses and properties out there, but of course there’s a whole lot less that fit your needs and price range – which makes the decision process much easier. From there, it’s a matter of what’s available.
That leads to our third major question to keep in mind:
For a lot of buyers, this is the biggest problem: maybe the property they’re looking for is not on market. I like to think of this as an opportunity for a buyer to reconsider what they’re looking for and pursue something else that could be a worthwhile investment. While anyone’s imagination of the perfect property is great, I think the best kind of property is an actual, realistic one. (In general, if you are always trying to pursue the perfect property, you’ll probably never end up buying anything.)
So, with all of this in mind, the role of the agent(s) involved is to help coordinate buyers, sellers, and attorneys so that this whole transaction can get off without a hitch, and especially help you figure out what’s the best situation for everyone, so that all involved go home feeling satisfied. It’s tough, but this is the standard we strive for in our office.