The Importance of Establishing Solid Buying Criteria
In a housing market with abundant supply, buyers sometimes get overwhelmed trying to find the PERFECT home, at the LOWEST price. There may be so many options, that buyers often get confused and avoid making a buying decision for fear of finding a home that is marginally better that the one they chose, right after they have signed the contract!
We ask our buyer clients to sit down with us for a no-obligation BUYER CONSULTATION in a relaxing environment, and openly discuss their NEEDS and their WANTS, to form a basis of their BUYING CRITERIA, ranked by importance. Write down two lists of criteria: The first list are the "MUST-HAVE" (needs). The second the "WOULD-BE-NICE-TO-HAVE" (wants). To avoid confusion and information overload, try to "narrow down" the home search from the general to the specific.
We tell our buyer clients that it's like flying on a helicopter:
1. From high up above the clouds (choose your preferred areas using "must have" criteria like schools, commuting distance, etc.);
2. Then come down below the clouds and focus on picking your preferred neighborhoods within the areas you selected;
3. Lastly, come down to ground level and choose your home from the available options within your chosen neighborhoods.
Once you start the home search in your preferred neighborhoods, rank each home according to your buying criteria, and eliminate those that do not meet your needs or have your wants. Sometimes your own ranking will surprise you, because your "gut feeling" may not match your "rational" choices!
Once you have found some options that fit your buying criteria and budget, (those homes that have all your "must haves" and many of your "would-be-nice-to-haves"), it's decision time - remember that homes that offer great value are selling quickly, so don't procrastinate!
If you cannot reach an agreement with the Seller of your first choice, you can work your way down the list. When new listings come on the market, remember to rank them using the same buying criteria...this is not a foolproof system, but we find that it usually helps!
To schedule a FREE BUYER CONSULTATION that would help you determine your needs and wants, please call us on (843) 900-0155.