Too Many Homes For Sale? How To Narrow Down Your Choices
Posted on: 29 September 2020
Sometimes it's a seller's market, where there is a huge demand for homes, but not many are on the market. Other times, it's a buyer's market, where there are lots of homes for sale and slow movement in getting them sold. When this happens to you as a buyer, you're in luck: you have lots of houses to pick from. You also may be overwhelmed for the same reason. Here are ways you can get those options narrowed down so you actually pick a house to call your own.
Grab a real estate agent
A real estate agent is your best ally in a buyer's market. When you have lots of houses to pick from, you need a housing expert to help you narrow down these options before you even go house hunting. Here's what you do: make a list of the things you must have in your new home and the things you want to avoid. Examples for what you want include preferred school districts, square footage, yards, fruit trees, upper or lower levels, finished basements, etc. Examples of what you might not want include busy streets, certain school districts or areas, business communities, smaller homes, split level properties, or non-fenced yards.
Your realtor will get to work narrowing down your home shopping options by cross referencing what you want and don't want. They will only show you homes for sale that best match what you're looking for.
Get pre-qualified
You want to get pre-qualified when looking at homes for sale because you don't want to go looking at homes way out of your price range if you cannot be approved for them in the end. Pre-qualification tells you what you can buy in the market, so you can narrow down your options by price. Keep in mind that homes that are slightly out of your budget can be negotiated down, especially if they've been listed for a while, so include slightly more expensive homes in your budget if you wish. Your real estate agent will assist you in looking at homes that are within your budget and pre-qualification range so every home you look at is a realistic financial investment for you.
There are many ways you can make buying a home in a flooded market work for you. If you want a great home, do your homework and you can soon get a home that is just right for your family. Your real estate agent will keep you posted as new homes for sale come up on the market as well.
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