Posted by Damon L. Chavez on Monday, March 12th, 2012 at 4:33pm.
Househunting in a Buyers Market can turn into a long, drawn-out process. While buyers in a stronger market might generally see a handful of homes before making a final decision, buyers in a saturated market are apt to search & keep searching... often ending up in an indecisive loop.
This is due in part to the "finicky-factor", which goes up exponentially in a saturated market. High end amenities (i.e. his & her sinks), not normally a consideration in the middle price range - might be deal-breakers in a competitive market. People simply don't respond well to too many choices (too many chances to choose wrong), so they end up... choosing nothing at all.
So, how will you know when it's time to settle down & tie the proverbial knot with a particular house?
Here is a list of tell-tale signs that this house should be your home:
1. There is an instant connection: If you are walking through a house and your heart starts to pound as you tick-off the uncanny match to your want-list, or the sound of another buyer coming through the door makes you feel less than friendly and more than motivated...you likely have a winner.
2. You see yourself living there: If you have an immediate image of your family, friends & furniture all happily inhabiting the space, it may be time to sharpen your pencil. Naturally you want to steer clear of falling in love with someone elses "staging", but if the vision you have mostly matches your reality, you're probably on to something.
3. You can put your stamp on it: whether or not the house is a new build, every buyer wants to feel as if they are the first person to ever walk on the carpet or cook in the kitchen. It's important that you can see your way to a time when, after a few tweaks, this home will feel like yours & yours alone.
4. You surprise yourself with compromise: If in walking through a house, you see one or two things which would, under normal circumstances, resonate as undesirable...but now seem liveable and perhaps even charming; you may already be home.
5. You're ready to commit, no more looking: If, on your walk-through, you suddenly lose all interest in any other homes you've seen, or are panicked someone else will buy it out from under you if you so much as blink ~ you may well be off the market. However, seeing at least one more house before you make an offer may be a good test of your senses; ensuring that your response to the home wasn't somehow incidental (enhanced by the smell of fresh-baked cookies or a furniture set you'd love to have).
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