In my previous life working for a real estate marketing ﬁrm, I often heard Realtors® use the phrase, “buyers are liars”. They were referring to the tendency of real estate buyers to change their buying criteria, often many times over the course of their search.
However, after working with many buyers and as a buyer myself, it is understandable why this happens. We often start out with an ideal home or property we’d like to purchase without thinking too deeply about the reality of our needs and wants.
Repeatedly changing one’s buying criteria not only frazzles your Realtor®. More importantly, it creates an inability for your Realtor® to search for and send to you suitable listings. This will create frustration and will cause you to miss out on listings that you want to see.
With this in mind, here are some things to consider once you’ve decided you want to buy real estate:
1) What can you afford? Get in touch with a lender to get pre-approved for ﬁnancing so you’re not searching for properties that are too expensive or disappointingly cheap.
2) Lifestyle. Do you like to walk to amenities? Do you want a lot of space and privacy? What type of neighbourhood to you prefer? Do you need to be close to work?
3) Style of Home. Do you prefer a modern home or an older home? Are you willing or able to put work into an older home to modernize it aesthetically and structurally?
4) Your Future. While a certain home may work for you now, are you planning on making changes in the near future that may cause a need to sell and move sooner than you would like?
There are many more criteria one could consider. However, these should get the conversation going. These questions may lead to more, for which you don’t have an answer as you may not know all options. A Realtor® can help with this. If you don’t know what you like, start heading out to open houses to get an idea of various options. These steps will create a smoother and more positive buying experience in the long run.