The housing market might be a mess, but what does that mean for the hunt for your dream home? Oftentimes, a large part of purchasing big-ticket items such as housing becomes emotional, but don't let that blind you from the necessary steps you need to take before purchasing your first house. Here are some great tips from reader brisas who shared what she learned from her own home-buying experience.
Thanks to SavvySugar, I just read this Learnvest link! And it actually got me thinking about how my husband and I after much looking and 7 different offers finally were able to buy a house (one we really love). I know buying a house is always a little different for each person but here are a couple things we learned from buying our first house!
- First, there are always more houses! We put so many offers out there and many of them received no response for one reason or another. But we kept looking, it took us over a year and 6 offers on other homes.
- Like I said it took us a whole year to find the place and then once we were in contract, it still took longer than we would have anticipated. With us, everything was going smoothly with our 30 day close but of course, there were unforeseen hiccups along the way. I would say it's perfectly reasonable to double how long your close will take especially in this market. We had planned for a month overlap from our rental to our home but in the end we had only four days of overlap. Plenty of time to move but a little more rushed than we had anticipated!
For more great tips, read after the jump!
- For counter offers, we actually gave the seller's two different offers. Both would leave the sale price of the house at roughly the same amount for us but one asked for cash back from the seller. I think when it comes to counter offers or multiple offers on a property, put two offers on the table. People love choices.
- Be exceptionally calm and patient. Don't lead on that you really love the house, of course, you need to love the house but first and foremost, it is a huge financial purchase and the purchase process is setup to be very emotional. Be emotional with your friends and family but with your realtor and seller's realtor just be calm and patient. Never lead on that it is the "perfect" house because there are always more houses.
- Always wait for a response before acting. When were were waiting to hear back on the counter offer, I kept wanting to add more to the offer but my husband said we can offer more but we need a response back first. After three days of waiting, the sellers finally accepted our offer.
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