Here are the main considerations you should be making as a homebuyer.
What considerations should you be making as a homebuyer in 2021? What are the key questions you should be asking?
The first and most important thing to focus on is your mindset. Buying is an emotional process; you have every right to be excited, curious, and even disappointed if and when your offer doesn’t get accepted. Here’s what I’ve learned throughout my years of experience: A buyer only has so many rejections in them before they quit altogether, which is just tragic. The ability to get a home you love in an area that you feel enriches your life hits at the core of the American Dream.
The reality right now is that we’re in an extreme seller’s market where our inventory is at a historically low level. Real estate is very simple; it’s all just supply and demand. We currently have a chronically low supply and sky-high demand.
So, though we can’t control the market, we do know that we can control our mindset. We must try to be a little more logical and strong-willed; we can’t just quit because the path forward is difficult. Thankfully, we’re here to guide you through every step of the way. Our main advice: When you fall in love with a house, you need to go for it—and go all in.
The second thing that will really move the needle for you in your home search will be your real estate team. Whether you choose an individual agent or real estate team like us, you’ll need a lot of consultation, counseling, and support to get through the process. You need to pick someone who’s highly experienced. They also need to have the bandwidth and availability to help you when you need it; there’s not much time to waste in today’s market.
“Though we can’t control the market, we can control our mindset.”
As a team of three seasoned professionals, we can offer three unique perspectives to help you navigate the process. Sometimes, seeing the same thing from a different angle can make it click.
Here’s another question that might be useful to ask your agent: “How many buyers are you working with right now?” Specifically, you want to know how many buyers they’re working with at your price point. If they already have five clients in your exact price point, you might want to reconsider choosing them—there’s only so much of a team’s resources to go around.
Last but not least, ask about trustworthy lenders. You need someone who is clear and concise about the terms and conditions of each loan product for which you qualify. Just like your agent, they need to be available to answer your questions on the fly. Be sure to get an official pre-qualification letter, not a pre-approval. A ‘pre-qual,’ as we call it, actually verifies your assets and income—it’s much stronger than a pre-approval.
Ultimately, we’re here to help. Through thick and thin, we’re in your corner. We strongly believe in the power of homeownership, and our passion for helping people is the backbone of our business.
As always, feel free to reach out if you have questions about this or any other real estate topic. We’re happy to be a resource for you and assist with whatever buying, selling, or investing needs you may have.