Hi everyone! My name is Ian and our team has been doing quite a few tips for buyers and sellers. Since we are focusing on buyers today, I think the first tip I can give some of these potential buyers is: write down a game plan.
You know, create a profile about yourself. Are you a first time home buyer? Are you upsizing? Downsizing? Perhaps you are an investor, what kind of investor are you? It is important to know your identity when you go into this market. I think having a piece of paper with some sort of game plan you can refer back to later.
Let me give you an example, if you were a first time home buyer, it is important to know what your comfort budget is. What are you comfortable with spending on a home to get what you are looking for? Perhaps you have a location or neighbourhood in mind that you want to live in. Or else you may need a minimum of three bedrooms because you have a family. Whatever it is that you feel you need, depending on your situation, add it to your game plan. Just keep in mind, you don’t want your checklist to be too long. If your game plan is too extensive, you might be looking forever so try to focus on the main things that are important to you. I usually tell my clients to narrow it down to a top 3 or top list.
My second tip is don’t judge a book by it’s cover. These days many buyers do their home search online. Just because something looks nice online doesn’t mean that it is nice in person. Professional photographers are used, things are staged by professional stagers but it’s not always what it seems. The reverse can also be true, sometimes the photos don’t do the property justice. I actually have a story about that very situation. I took one of my clients out to see some properties and he wasn’t sure about booking one of them. I booked it anyways because it’s free to look and you never know. We actually ended up putting in an offer on that property because it was way better than my client thought it would be just from looking at the photos. My client was able to purchase the property for $50,000 under asking price because the pictures were so bad that they didn’t have many showings. The fact that it is free to look means you should definitely try to see more homes because buying a home is a large purchase and it is something you have to live in.
My third and final tip is that you should remain positive and optimistic as a buyer. I think a lot of people get discouraged if their first offer isn’t accepted. Sometimes if you really want a property you have to think about the amount you are offering. I would hate for you to lose the property of your dreams by only $5000. But on the other hand, sometimes you just have to put an offer out there, even if it is less that, you just never know the motivation of the seller. Just like the story I just mentioned, we got it $50,000 under the asking price. You just don't know what the mindset of the seller is.
To recap, as a buyer, you want to have a plan. What persona are you, first-time? Move-up? Downsizing? What things matter to you most in your new home? Get out there and see a bunch of properties. It’s always different in person. You have 5 senses: hearing, seeing, smelling, touching, and well, maybe you shouldn’t be tasting the property…. But you should definitely go see them in person. And the last one is just be optimistic and positive, all it takes is one property. You’ve got to put offers out there and not get discouraged if you have to place a couple of offers before they are accepted.
Don’t forget, we are giving away a trip for two to the Caribbean worth up to $5000. If you refer someone who buys or sells with us in 2018, you will be entered into our draw!