5 mistakes home buyers make that cause the “perfect” home to disappear!


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Looking to buy real estate and don't want the perfect home to get away? Don't make one or all of the five mistakes that many home buyers make!

Contact Katie Halle to discuss the best approach to accomplish your home buying goals.

Katie Halle

Published in: Real Estate, Business
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5 mistakes home buyers make that cause the “perfect” home to disappear!

  1. 1. THEY HOLD OUT FOR A “BARGAIN” Some people have to have a “bargain”. They love the idea of getting more than they’re paying for almost more than the purchase itself! And the internet era has encouraged this with sites such as Ebay. The problem is that this mentality simply does not apply to real estate in a sellers market. In other words, real estate is not retail. Homes are not commodities and there’s no such thing as the “Buy It Now” price. In fact, the list price is often more like the starting price in a multiple offer situation, like those that are so common right now. Especially in markets where prices are increasing, our agents can show these buyers how their insistence on getting a “discount” (whatever that means) is actually costing them money as home values continue to rise and the number of buyers active in the market rises also. In cases of first-time home buyers stuck in wanna-be bargainer mode, we show them the tax advantages they are foregoing while they spend months trying to save a few thousand bucks. Finally, the pain of losing one too many “just-right” homes turns out to be the experience that educates many of these buyers that this is one transaction where “bargain basement” just doesn’t exist. Get an appraisal if you think you are in danger of paying too much. Otherwise, the home that is right for you and your family is a good buy in this market!
  2. 2. INSISTING ON AMENITIES THAT CONFLICT It happens often, he wants this and she wants that and they are not usually the same thing! Buyers should figure out what the family “must haves” are first and the “other” wants second. If a home meets the must haves then it should be strongly considered even if the “other” wants have not been met. You might even find that the other wants can be added or don’t really matter at all. The bottom line is, there is no 100% house (even if you build it yourself) especially when dealing with the wants and opinions of more than one person.
  3. 3. GIVING UP TOO EARLY This market can be frustrating. Buyers make over list price offer after over list price offer and nothing seems to stick. To a buyer, it may feel like they are never going to get a house and they won’t if they give up too early. In a market that is increasing in price, it’s not exactly a prudent decision to give up on house hunting until next year just because the process is rather daunting this year. Using this logic, the buyer will set themselves up for the task of jumping through the hoops of purchasing all over again except, this time, they’ll be looking at buying less house for more money.
  4. 4. LOOKING AT HOMES BEFORE GETTING PREQUALIFIED Buyers who “window shop” fall in love and then lose the home they just fell in love with…period. Looking at homes before getting prequalified with a lender is about as smart as going to the pound to pick out your dog a month before you are ready for a dog. That’s right, the dog won’t be there and neither will the house. So what’s the point? Buyers that get the home that they want get prequalified BEFORE they shop. It’s that simple. It’s much smarter to figure out what you can qualify for, decide on the appropriate loan program, negotiate the rate, budget for the payment, and jump through any qualifying hoops that may need jumping before setting a foot inside any home. Buyers that take this approach do not set themselves up to lose dream homes because they are not properly prepared once it’s found.
  5. 5. BUYING WITHOUT REPRESENTATION There’s a reason that Buyers agents exist. Is it because we are no longer in that “old school” day and age where you have to go through the listing agent to purchase a property? Or, no matter how many homes you’ve bought and sold personally (probably with the help of a real estate agent) you’ll never be as prepared for the nuances of the current market conditions or as knowledgeable as a buyers agent that assists and advises in buying and selling every day? Or, could it be because having your own representation, a professional that is held by fiduciary duty, is a smart thing to do in the largest purchase of your life? You wouldn’t represent yourself in court, would you? You wouldn’t self diagnose a health condition, would you? Like Lawyers and Doctors, licensed buyers agents are helpful professionals. A buyers agent will guide and assist you through the trenches of the real estate world and has only your best interests at heart. And, the best part about it is they are FREE to you. The home seller pays for you to have your own representation. This decision should be a no-brainer!
  6. 6. TEAM EVOLUTION REAL ESTATE We are a full service real estate team and we are here to help! To purchase or sell in Maricopa or Pinal County Arizona CALL NOW! Katie Halle, Team Leader / Owner 602.476.1942 Katie@KatieHalle.com TeamEvolutionRealEstate.com