Exploring Real Estate Market Trends

Home Evaluation Tips For First-Time Homebuyers In A Hot Seller's Market

If you are getting ready to start touring homes in hopes of finding your first family home, then you need to both quickly and objectively evaluate each home you see in a hot seller's market. Since you may not have the luxury of time to view a home multiple times before making an offer when houses are selling on the same day they list, you need to turn off your emotional side and evaluate each option effectively. To help you do so, here is a list of time-proven tips.

Tip: Focus on Your Absolute Must-Have Attributes

The only way to get the perfect house that meets every one of your desires is to build your own home. Since you are looking at existing homes, you will need to make some concessions. For example, you may hate the color yellow, but the kitchen in the best house you have seen is painted yellow and has a yellow enamel sink. You may not like this fact, but is it really a reason to skip making an offer on the property?

Before you go out looking at homes, make a list of your must-have attributes and other things you are willing to be flexible about. Make sure your must-haves are things that would be hard to change about a house, such as the number of bedrooms or bathrooms. If your list includes things like paint and landscaping, then consider moving those things to your nice-to-have list.

Tip: Don't Neglect a Full Tour of the Yard or Property

While you may be pressed for time or may not really care about the current state of a property's yard as long as the house itself meets your family's needs, it is always important to take the time to walk around and make sure you see every area of the yard. If the property is large, make sure you allow some extra time or make arrangements to be shown the land. The last thing you want to do is buy a property quickly and then later discover you now own a trash dump or part of a swamp.

Tip: Rely on Your Real Estate Agent's Experience

Finally, in a hot seller's market, you absolutely must work with a real estate agent who you trust to have your best interests at heart. You need to trust your agent to screen properties for you, and you should listen to their advice when you are on the fence about a property. Communicate well with your agent and let them know what's important to you in a home, and then let them find your perfect family home.

For more information on homes for sale in your area, contact your local realtor.