Being a casual home buyer is fine, and most people are.
They’re looking for the perfect home for them, and they will know it when they see it. But because virtually every house needs something – even new ones – it can be a long hard road in search of perfection.
Try this approach.
Instead of declaring yes or no on each house you see, put a number on it.
At what price would you buy it?
It takes more time to research the comps and compare the features, but it gets you onto the playing field. Here are some of the benefits:
- Hone your home-evaluating skills.
- Get more familiar with the comps.
- Identify what features are most important to you.
- If you do make an offer, it bolsters your case with seller.
- Your offer negotiations have a specific target.
- If you don’t make an offer, it prepares you for the next time.
When do you make an offer?
If your research concludes that you might pay within 10% of the list price, then make a written offer and see where it goes.
If your price is more than 10% below list, then call it in and see what the listing agent says. Nine times out of ten they will hang up on you….and you’re looking for the tenth!
The yes-or-no approach won’t buy you a house – instead, put a number on it!