When is the Right Time to Stop Looking and Start Buying?

There’s a moment when you’re in the market for a property that you must decide it’s time to stop looking and to start buying.

Many folks find this part of their search the most confrontational. But it can be easily avoided by researching the availability of your target style of property in your preferred neighborhoods. 

Good research will prevent you from falling into the trap of believing that there’s always one more property to see or that spinning your wheels and waiting will somehow reveal the perfect property.

You also need to avoid the common mistake where if you miss out on a dream home, you use this as your benchmark against which you judge all the other properties – and find them lacking.

Impatience can also cause heartache. Viewing homes for weeks, even months, is pretty tough when you have a busy lifestyle. So, it’s easy to make the wrong decision just to end the pain of the search process and get on with the rest of your life.

As an experienced agent in our neighborhood, I understand how difficult the buying process can be. After all, it’s one of the most important financial decisions of your life with a big emotional element as well.

Here’s how to find your dream home. 

  1. Know your ideal property – An effective search depends on you knowing what you’re looking for. Decide on your ideal styles and size of home before you embark on your search.
  2. Do your research – Work with your agent and use available data sources to uncover the properties in your desired area that meet your needs. It’s a good idea to be flexible as this will reveal many more potential properties.
  3. Stay calm – In a market of rising prices, it’s easy to believe you need to strike quickly or risk being unable to afford what you want. That’s a possibility, but the real danger is making a decision you regret later. Rely on your strategy and research in a booming market.
  4. Use agent expertise – Your agent is critical to a successful search. Use our knowledge of your target neighborhoods to not only find the right property but to buy in good streets and near amenities. Location is critical not only to your lifestyle but to the future value of your property.
  5. Stay focussed – It’s easy to over-think the search process. Don’t be swayed by media headlines about rising or falling prices. If you want to buy, your biggest mistake will be to try to time the market. The odds of being able to do that and find your ideal home are remote.
  6. Be pragmatic – Falling in love with a property can sometimes end in deep disappointment if it sells to someone else. A typical emotional response is to buy on the rebound, especially if your search has been long and tiring. 
  7. Don’t give up – It’s so easy to buy the wrong property and suffer buyer remorse if you’re exhausted. If you’re starting to think any property will do, go back to your strategy and research and consider a time-out. 

Article From ActivePipe

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