Why You Should Never Buy the First Home You See
Congratulations on making the decision to buy a home! This is an exciting time, and you’re likely anxious to find your dream home and start the process. You’ll be in your new place sooner than you think, but are you sure you’re home search is moving at the right pace?
In a perfect world, the first house you see in person will be your dream place. It’ll check all of your boxes, be in perfect condition, and be priced just right. Unfortunately, this is rarely the case. In fact, even if it is the case, you should still take the time to visit more properties before making a decision.
According to Realtor.com, the average home buyer visits 10 homes over a period of 10 weeks before they find that perfect place. While you don’t need to stick with 10 as a hard-and-fast number, there is an argument to be made for taking your time and seeing a few places. This is a big decision you don’t want to enter lightly.
Marathon Not a Sprint
Many first-time homebuyers feel like they have to jump right into a purchase. They’re excited to have their mortgage pre-approval. They have a vision of the market moving rapidly with other buyers snagging the best homes every few minutes. While it’s true some markets move quickly, it likely doesn’t move as fast as you think.
While you certainly don’t want to search for the right home for years without making a decision, it’s worth touring a few properties. In an average market, a real estate agent shows a buyer up to 7 homes a day. This might sound like a high number, but you’ll quickly realize you get a sense for recognizing the right properties.
Buying a home is a huge financial decision. This isn’t something you should take lightly. When you purchase a car, vacation, or any other large purchase, you’re likely to do some shopping around. You check out alternatives, different prices, and benefits of multiple options. Why shouldn’t it be the same with your home buying process?
A Realistic Perspective
The first home you see will be clouded by excitement. You’re so thrilled to finally be taking action towards buying a home that you overlook a few things. You don’t worry about that extra long commute to work. Or you think the chipped paint on the exterior adds charm. These small things are easy to overlook because you don’t have anything to compare them with.
When you tour several homes, you get a better eye for perspective. You know what a safe neighborhood looks like. You know what you want from a property, and you know exactly what your dealbreakers are. This positions you in the right place to make a smart decision.
Finding the One
When do you know that you’ve found “the one?” How do you know if you’re standing in front of your dream house? First, you’ll need to visit your top picks more than once. Not only should you visit both during the day and at night, but you should also look at the property more critically.
Bring a camera to each home showing so you’re able to take note of specific details that you like or dislike. This makes comparing different homes much simpler. Rate each home on a scale of 1-10 after each visit while the home is still fresh in your mind. Don’t be afraid to take notes.
If you’ve seen a few different properties, there might not be a clear choice. You might have a few options you think are a good fit for you. It’s okay to weigh the pros and cons and go with the best property on paper. It’s also okay to choose the one that feels right to you.
Buying a Home Carefully
Ultimately, you want to be careful with your purchase when buying a home. This is somewhere you plan to live for a while. Whether this is your first home purchase or you’re an experienced buyer, make sure you know what you’re getting into.
Don’t fall for the first home you see. Even if it is the right home for you, it’s worth looking at a few other properties to make sure you’re confident in that decision. The perfect home for you is out there, but you need to be ready to look for it.