In hot real estate markets, buying a property may feel like a nearly impossible feat. Rising prices, low inventory, and bidding wars can make a prospective buyer feel dejected.
But becoming a homeowner is possible in this market, you just have to keep a few things in mind:
Don’t be naive. Understand the market realities. Instead of obsessing over prices, value, and comparables in the area you’re considering, focus directly on what it will take to get the home you want.
Work with someone you trust. It may pay to find an agent who is sufficiently skilled to develop a rapport with sellers and their listing agents. Or you may need a superior number-cruncher to get you the best deal. But whatever the agent’s strengths, ensure he or she is a person you feel comfortable working with; the journey to finding a home can be long and arduous. You’ll need a friend. At BoyCott Realty, we naturally end up becoming friends with our customers. That’s how we treat each transaction…as if we are doing it for family/friends!
Be realistic. Be very realistic. If you’ve only seen one home in your desired market that fits your budget, then that market probably isn’t in your price range. Accept that and either pick another area or be prepared to boost your budget. The philosophy of real estate contains three main items; location, price and criteria, although we strive for all three, we must get realistic and discover we really only get two based on inventory in a given market. If you find the perfect location and it has all the criteria you desire, 3 bed/2 bath/pool…chances are, the price is not going to be what you desire.
Finally, try to relax. Expect that all will not necessarily run smoothly, particularly in a highly competitive market. Don’t get worn down by the process. You can become a homeowner if you relax and go with the flow! And buying with a BoyCott Realty agent is a great way to ensure you’re informed from contract signing to the closing table- where you’ll get your keys! We make sure you’re in-the-know during all the steps of the buying process.