Successful House Hunting
Not having the right mindset can make your search for a home to buy really frustrating. Sometimes you get lucky and you find the perfect home and have the perfect negotiation and you find yourself sitting in your new home in a matter of weeks.
However, that's not always the case, and if you're not prepared for some setbacks and disappointments, you may get disillusioned with the whole process.
In recent months, with housing inventory low and more buyers competing for less homes, the process has taken on a new challenge. I've found when I'm working with young buyers, especially in lower price ranges that we may have to make multiple offers and either not be able to negotiate an acceptable deal or we can lose properties to higher bidding competitors. Even after you get under contract, there is still the possibility of finding significant hidden defects with a home that make it unwise to move forward with the purchase.
If you're not mentally prepared for these challenges, you can find yourself discouraged and sometimes want to throw in the towel and stop looking. Sometimes, by the way, taking a break from house-hunting isn't a bad idea. It helps to give you a little perspective if you take a week off and re-evaluate your motives. If your reasons for looking for a house are still strong after a break, you will renew your search with a new optimism and energy!
The key to successful house hunting (and catching) is to start out with the right attitude and expectations. Know that the process could take a while and be accompanied by setbacks. Having discussed and put on the table your realistic expectations about what you can afford in your price range and having a flexible mindset is key. I tell buyers all the time, "you won't find everything you want in one house. You will find the perfect house, in the wrong location, or the most perfect location with the wrong floor plan." Be prepared to make some compromises, but eventually you will find the house that is perfect for YOU!
It's also critical to work with a Realtor who has enough experience to be able to guide you through this process, through the highs and lows and help you set those expectations. If Colorado Springs is a market that is on your radar, I'd be happy to be that expert professional!
Russ Gordon is a 10 year veteran of the Pikes Peak (Colorado Springs and surrounding communities) real estate market. He is an Accredited Buyer's Representative and has worked with buyers in nearly every facet of the market. Call or email Russ today to see how he can help you realize your dream!