Why You Can’t Find a Home to Buy
It is in fact a sellers’ market right now, with a limited number of homes for sale and an influx of people ready to buy. For buyers, competition is getting fierce, but that may not be the only reason you are having trouble finding a home.
You have to ask yourself if you are a competitive, strategic shopper or if you are seeking a long list of very specific requirements that may not easily be found. You must also consider how sharp your decision-making habits are.
In this market, highly sought-after homes do not have “for sale” signs on their lawns for long. Like it or not, one of the reasons you haven’t found a home yet may be that you are not shopping as strategically as the current real estate market demands.
Here are some possible reasons why you might be missing opportunities:
You can’t make up your mind: Say a potential house comes on the market and it looks like it fits your needs and some of your wants.
- Do you call your real estate agent right away, or do you wait and think over whether you really want to see it, or if it really will fit your needs, or if it’s worth the time to try to schedule a showing?
- Do you set up a showing for that same day or, at the very latest, the next day?
- If you get as far as the showing and like the home, do you have to think about it for a few days before you place an offer?
This may be exactly where you are going wrong. The phrase “Time is of the essence” applies here! In this market, waiting to see a home and to make your move is exactly how you can lose out on the perfect home.
You want the cheapest deal possible when you place an offer: It goes without saying that you would want the best deal possible. But you could be causing roadblocks:
- Do you trust your real estate agent to advise you what the home is worth in the current market?
- Do you make your offer based on that advice and the reality that other buyers also want this home?
Lowballing does not work well in a highly competitive seller’s market, so this may be why you are missing out on the perfect home.
You want it all: Everyone has a lists of wants, but you need to face that yours may not be realistic or fit into your budget.
- Are you rigid about finding numerous must-have features in the home you will finally buy?
- Are you finding that every single home you see is missing something you simply must have? In this market, you need to evaluate what you must have and what you can work with. For example, if a two-car garage is currently on your must-have list, consider that a home with plenty of land means you probably can build a garage if it doesn’t have one.
Not being able to make a few small compromises can cause you to miss out on owning a great home.
Learn some key house hunting tips so that you have a better prepare your search and keep track of your house hunting progress.
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