Buying a home is often the biggest purchase a person will ever make – so of course there are a rollercoaster of emotions attached to this transaction. But what if your emotions get in the way of your best interests? All too often home buyers pass up a great deal or pay too much for their “dream home” because their feelings are causing foggy judgment. While you may think you have your emotions under control, it’s always best to have an Exclusive Buyer’s Broker on your side to ensure you are making the best move for everyone involved. After all, you want to make a good investment, right? Not a spontaneous and emotion-driven purchase.
As a seasoned Columbus buyer’s agent, I have seen both ends of the stick: home buyers who make the best investment of their life, and also those who let their emotions take over. Here are some of the common mistakes home buyers tend to make, and how they can be avoided.
Love at First Sight: While this may be how you live your personal life, the same guidelines don’t register with real estate. In fact, when it comes to real estate there should be no such thing as love at first sight. While it’s perfectly okay to fall in love with a home quickly, it may not be the best idea to sign a contract without touring other homes. It’s important to remember that a home goes beyond the aesthetics. If there are a few drawbacks, don’t just assume you will make it work – because this could result in buyer’s remorse. Make sure the home you’ve fallen for will be the best purchase for every facet of your life, including your wants and needs.
Lowball Offers: With affordable housing prices and record low mortgage rates, you’ve got some competition out there for newly listed homes, especially if they are priced competitively. There are people who are willing to pay close to the asking price or above to snag a home so timing is critical. The key is to determine accurately what the home is really worth in today’s market price-point. There is nothing wrong with offering below asking price or even substantially below if you and your metro Columbus Exclusive Buyer’s Agent have done their research – which we will! But throwing in a crazy-low offer from the get go could send a distinct message to the seller to not take you as a legitimate buyer and may actually cost you even more. As a Columbus, OH Exclusive Buyer’s Broker, we can work together so the odds are in your favor.
Looking for the Next Best Thing: Okay. So you’ve looked at more homes than you can count and you still haven’t found “the one.” So what do you do now? Above I mentioned today’s affordable housing prices. This fact gives buyers a false sense of “something better coming along.” No exclusive buyer’s broker can promise you that something bigger, better and cheaper won’t come along the day after you close on a home – but you could be passing up a lot of great properties if you chose to conduct your home search in this fashion. Be smart, know the market value for the Columbus, OH area and do your homework. You don’t want to find out that the home you really loved has closed with another buyer when you finally decide to make an offer.
I hope these tips have given you some insight on how to handle the emotional process of home buying. It can be difficult to set your feelings aside (especially when dealing with something as big as a home purchase) but I promise that in the end you will be happier with your decision. If you are in the position to buy a Columbus, OH home, feel free to contact me anytime. I look forward to helping you complete a smooth transaction.
Andrew Show
Buyer’s Resource Realty Services
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