5 Things Every Buyer Must Know When Starting A Home Search

So you're thinking about buying a home? Congratulations! Just the thought is honestly a huge step! The remainder, as amazing as it can be, can be quite stressful!

Before I continue, look at the main image at the top of this article. No, that house is not in Chicago. No, I am not buying it. But, yes, it has features I would love! As an agent, I see a lot of homes that I would love but can't have. However, it's the elements I love (the pool and having outdoor area to entertain people). So, if I was buying and showed this to someone, they would say, "You can never have this house!" and I would say, "I know, I just want the pool!" (which I can't have either, but it's the lifestyle the pool represents such as access to water, possibly, or a nearby pool, or maybe I don't even know exactly). This will make more sense once you read below...

This leads us into our tips:

#5 - Learning Your Lifestyle

Work with people you know and trust...not the person who sales in volume.

When people get the thought of buying, they tend to look at sites like Zillow before working with an agent. This is completely backwards because you don't know what you need/want/like. You may think you do and can be useful to get an idea of the home in a low pressure state, but then the Zillow looker (you) clicks to see a place. This is where it breaks down because their is no value from an agent that buys leads to try to get to know you and really dig into who you are. They paid big bucks for you and need you to BUY! And saying things like "Wow, you chose a great place" makes you feel validated but from a self ego perspective only.

Do all agents do that? No---but when they paid for a click to come through, they need to sell you. If they don't close you, they lost that ROI (return on investment). But since closing is important, they won't focus on you, your needs, or what it is that you're looking for. This also leaves you to rethink things because you seemed confident in what you wanted but could also find out you're not looking at place you can even purchase.

#4 - Have a Plan

Timelines, areas, budgets, and more will make the search enjoyable.

This connects to the #5 tip very closely. When you know what items you want (and don't) and have an idea of what life you're looking to live (having children, expanding hobbies, proximity to family, etc) you can create a plan. This plan will be ensuring monthly budgetary goals are hit, any work that needs to be done after close you feel comfortable with, and what a buying timeline looks like (life, current rent terms, etc). When you work with an agent that is in your sphere (close to, referred to, etc) and didn't have to pay a lead generator, they tend to help you design this plan. It's a good feeling!

#3 - Try Not To Compare To Others

Your home is for you...not what you saw another buy online.

Comparison is the thief of joy and the wizard of confusion. Alright, I made that second part up but I have seen so many people become incredibly confused on what they are looking at when they compare. Your search is your own and no one else's.

Markets change...sometimes within days! Everyone thinks they know the market but they know their own little sliver, from their viewpoint, and in their unique position. Thus, they technically are the expert, just of their own domain. When it comes to what the market is doing, they are not even close. So don't look at what someone bought years ago in a totally different world and think you can get something like that. We will work together to ensure you have a plan and get what is perfect for you!

#2 - Patience Pays Dividends

Markets can and do move quickly, but that doesn't mean you need to react to the conditions.

Think of working with an agent as having a little voice of reason following you around. Real estate can make people get into things they don't want. People justify terms they aren't comfortable or rush things. A little bit of thought and time will get you what. Patience is relative. Action is required; but making decisions hastily causes pain. Reflect on the concept of patience and think about what time and life represent when buying a home!

#1 - Never Make A Decision with Your Emotions

Emotions are temporary fuel and makes most people do things they regret.

Remember that time you were mad about something and did something you regretted? Yep, it happens to everyone. However, imagine doing this when buying a home. You walk up to a home you really like and see a line out the door or hear they are calling for final and best by a certain time. It makes you become uncomfortable. The feeling of not losing, scarcity, stress of life, and more just hit you. You do the math and going really over asking seems okay...until you win and you realize that you may have beat yourself out. It's painful and many buyers can get cold feet that way! However, when you bring the offer you feel strong and confident about, win or lose, you will be happy. Also, the way I communicate with other agents, even if we don't win, I ask the details they are willing to share so we knew where we fall and I wish them luck because if it falls through with that buyer that may have thrown the kitchen sink at them, we may still be interested and available to strike again!

Imagine knowing you overbought. When would that feeling go away? Probably not for a long time until the neighboring market catches up and that could be a long time (if ever). And if you need to sell before it catches the market value, it can put you into a financial situation.

If you have been on the search, you will know what it's worth to you. And if you haven't been on the search long and maybe it's the first property you're seeing, I will ask you what it's worth to you if you want to proceed. This is when clients have told me stuff like "My grandma used to live down the block and I came over here all the time. We used to walk around the block and she pointed out beautiful flowers in front of this house. It has what I need and believe there is a reason for this house to be mine" Yes---let's take a shot then! Just don't give your soul for it!