There’s no denying that house hunting can be stressful, especially if you’ve already sold your current home and must find a new property before you need to go to the expense of temporary accommodation.
There are some great new technologies that we use in the real estate industry these days have made it easier than ever to find your dream home.
Virtual walk-throughs and 3D online presentations give you a great sense of a property without having to visit it, as they give you a sense of flow to the property and get a better understanding of layout and distances.
While you’d probably never buy a new home completely sight-unseen, these technologies allow you to see more properties more quickly, and will help you build up your shortlist of those you really want to inspect.
Here are five tips to help you stay calm under pressure and maybe actually enjoy your house-hunting experience..
- Don’t rush – Our lives tend to be run by deadlines, but you can be flexible when house-hunting. If you’ve sold a property, then it may make sense to negotiate an extended settlement period to give you time to find your next home. If you’re renting and about to buy for the first time, don’t be afraid to have an overlap of a month or so where you own and rent at the same time. The additional cost is minor compared with the benefit of achieving the life goal of ownership.
- Decide what you want – Make a list of everything you want in your next home. This would include not just desirable neighbourhoods, price and number of bedrooms, but also whether you want a swimming pool, a short commute, a home office and so on. This way, you’ll focus only on the right properties. Consider splitting the list into “minimum requirements” and “nice-to-have”.
- Resist emotional attachment – It’s easy to fall in love with a home, but you need to adopt a tough exterior to avoid disappointment. You can be outbid on a property, or a building inspection may show it to be a potential money pit. Until the seller has accepted your bid, keep a clear head and continue with your search.
- Fear of Missing Out – We’ve all heard of FOMO as a phenomenon of behaviour in the 21st century. It emerges in property sales when prospective buyers become anxious about being outbid or not acting quickly enough. You need to hang tight, work your purchase plan and negotiate a fair price that you know you can afford. If the property sells for more, reassure yourself that it wasn’t meant to be and move onto the next one.