House hunting can be challenging, especially in a seller’s market when there are more buyers then homes available. Assuming a home is priced right and well marketed, it will sell very quickly, and as a buyer you need to be ready to jump on an opportunity when it presents itself. You should know what you want, but at the same time, not be too picky. I always tell buyers, if you can get 4 out of the 5 things you wanted, you won.
Location Location Location
Location is one of the things that you can not change. Your first and main search priority should be the location you want. Is it close to work and friends. Do you like the school district (even if it doesn’t apply to you consider resale value). Is it near parks or entertainment venues you frequent. I would never suggest compromising on the location.
Floor Plan and Size
The size & floor plan should be conducive to your current family size. While you can tear down walls and add on to the house, these are costly modifications. So its okay to be picky when it comes to floor plan & find what’s going to work for you.
Focus on what you can’t change. If you need a basement, you can’t add one later. But restricting yourself to only looking at home with a finished basement WILL hinder your search & cut your possibilities in half. This is something you can change at a later date for a reasonable amount of money.
While it can be very distracting to walk in a house with Neon Green paint or wallpaper, try your best to look past it and envision the house in your colors. If the house has the perfect location & the perfect floor plan, but has neon green paint. Buy the house! While you may spend a couple thousand having the house professionally repainted, you likely saved double that on the sales price.
Known when to compromise
If most homes in your price range have 3 Bedrooms and 1 Bath, waiting for that 2 bath home may cost you. In a market when prices and interest rates are rising, your search should be based on truly “must haves” and keep the “nice to haves” as a bonus.
So if you’re current home search isn’t producing enough of the right results, it might be time to broaden your criteria. Go through your requirements and determine the “must haves” and “nice to haves” and you might find quite a few more possible homes available!