Searching for a new home isn’t always as easy as it might initially seem, especially online. You scroll, search, click, discount, repeat, and on and on the cycle goes. And for the most part, this cycle can be avoided with a few simple habits.
With reports suggesting that in the US, 100% of buyers search for their next property online, this post is going to look at a few mistakes people often make that are detrimental to their search and can actually play a part in them missing the ideal property and extending the search more than it needs to be.
Relying on Price Alone
This is a common problem. You know your budget, you put it into the search function, and you check the properties in that price range.
And while affordability is critical, it makes sense that you don’t want to make offers on properties above what you can realistically afford.
But widening your search slightly above your max budget can open up new possibilities.
Some homes priced marginally higher might have features and options that can reduce future costs when you move in or improve your quality of life, i.e., lower maintenance demands or newer fixtures and fittings. And there might even be room for negotiation, so slightly higher might work out better, as you could snag a bargain. The same works for going lower if you don’t mind making other compromises.
Searching Without Clear Priorities
Simply browsing the property market without defined criteria is only going to confuse matters. You’ll see all the properties, then finding the ones you like, can afford, and meet your needs will only be more difficult.
Instead, you need to separate non-negotiables from preferences. Know what you must have in your new property — no compromises — then what you’d like to have but could live without. This will give you clear parameters to search within. It’s the difference between needing a driveway for your vehicles, while an extra bedroom for visitors would be nice if you can get it.
Then refine your search further by location. Choose where you want to live or would be happy to consider. Targeting specific searches to include homes for sale in specific ZIP codes or locations means you can close the net even further to help narrow down the possibilities within your affordability that meet your criteria.
Waiting Too Long to Act
This is a huge problem many people have, especially first-time buyers. In competitive markets, the last thing you want is for your delay to lose you the house of your dreams and make the search more frustrating than it needs to be.
Buyers who delay enquiries or viewings often lose opportunities to those who strike immediately and push forward quickly.
You should monitor new listings and respond promptly when something catches your eye. It’s better to make enquiries or view and find it’s unsuitable rather than missing out and then realising it was the perfect property.
However, there is one caveat to this. If you move fast, you need to make sure you have all of your financials in order to be able to put an offer in and proceed with the purchase if it’s the house for you. Making a move without having the funds in place will again lead to disappointment.
