In today’s video I walk through the 3rd step of our buyer plan… which details how a buyer can effectively move through the process of identifying the right property… with the right features… for them and their budget.
How Should I Start Filtering Through The Features I Want In A Home?
1. Recognize that you are starting at the outer ring of the bullseye!
2. Understand that it’s okay to slow down the process because buying a home is one of the largest financial commitments you’ll make!
3. And that finding the right property is a process of elimination, not a shopping spree. Meaning, it’s critical to be as specific as possible with your wants and needs to increase the probability of finding the right property for you and your family.
How do I figure out what features are within my budget?
1. Problem: Many buyers look at what’s for sale to determine what their money can buy. This is a common mistake because…
2. Recently SOLD listings provide the most insight on what the money is ACTUALLY buying today…sold properties = reality.
3. So look at the most recent sold listings to see what features are available within your budget.
What Features Should I Focus On?
1. Given the overwhelming array of choices it’s important to Be Conscious About What Features Are Most Important To You!
2. Consider The Lifestyle Of The Area Not Only The Property Features!
3. and understand that No Property Is Perfect So Stay Focused On The “Have-To-Have” Features! For example, if you find an otherwise perfect property that lacks that finished basement that you want you can add that later! If it checks every other box, be willing to compromise.
How do I refine my house search criteria?
1. Accept that, for the most part, there is no perfect property but…
2. the more you focus on your “Must-Have” features, the more likely you are to find your perfect property… because…
3. you will come to realize that some features don’t matter, or that you can make changes to the property you buy to optimize it for your family and lifestyle
To summarize the key point: When you begin the process of searching for a home it’s important to recognize that you, as a buyer, are starting at the outermost ring of the bull’s eye target in the search of a property that meets your needs. As you work through the process, with the right guidance, you should narrow your focus… moving closer to hitting the bullseye… ultimately, securing the right property for you. You should also know that feeling overwhelmed at times is a normal expectation and that it’s okay to slow the process down at the beginning to gain a high level of certainty before making such a big commitment.
Lastly, it’s important to understand that the last ~10% of the decision-making process is a leap of faith that the property you are buying is the right one for you. Trust yourself.
To help you here, we offer all of our buyer clients access to the most relevant sold property information to help them understand what the money is buying in today’s market. Simply visit YoungHomeFinder.com to get a free copy of our buyer plan.