The Outer Ring!
When beginning the process of searching for a property, it’s important to recognize that you, as the buyer, are starting at the outermost ring of the bull’s eye target. Finding the right property is a process. It’s commonplace in the real estate agent business to quip, “buyers are liars.” This is often stated as a frustration that, when beginning the process of searching for a property, buyers often seem allusive. In our experience, buyers are actually confused early in the process, simply because they are not sure what they want, given all the available choices under consideration. This buying process anxiety is compounded by the thought of making a major financial decision and commitment. Therefore, it’s easy to understand how property buyers could come across as being confused and allusive.
Matching Price & Features!
The first step in proper buyer guidance is to advise that you first consider what you can purchase in the marketplace with the amount you have decided to spend or have been pre-approved to spend. Although you might search for properties currently for sale or new to the market, it’s very important to study the actual sale prices of properties that have recently sold and include the features you’re looking for. The reason is because all buyers start the process with a perception of value, rather than a complete understanding of what the money can actually buy under current market conditions.
What Features Are Most Important!
Given the overwhelming array of choices, it’s critical to stay focused on the features that are most important to you. When doing this, it’s wise to consider the location and lifestyle the area provides. While it’s typical to hyper focus on what the physical property has or does not have, it’s equally important to understand what you want once you step outside to live your life. In all cases, keep asking, “What’s most important to me?” Regarding physical features, you’ll find it will be difficult to find an existing property that offers 100% of the attributes you’re searching for. Therefore, we recommend you stay focused on several of the major “have-to-have” items and don’t compromise on the few versus the many less important aspects.
Refining Your Criteria!
Ultimately, there is no perfect property, yet the more you focus on the must-have features of a property, you’ll make your own refinements and move towards a buying decision. Considering you started at the outer ring of the bull’s eye believing you had to have certain features, you will now discover that, suddenly, some features no longer matter. This process of refinement will give you the feeling of empowerment and the understanding that you’re making an informed decision that will serve you well. Also, understand that no property is perfect; therefore, the last 10% of the decision-making process is a blind leap of faith that the purchase will suit you just fine.
We realize learning more about refining your search to focus on the features that are most important to you may require assistance, so please contact us to discuss the matter further.
Understanding how to refine your search properly to focus on the features that are most important to you will set up course module #4, where you’ll learn how to begin your search in the field touring properties and neighborhoods to discover the realities of the marketplace.