How homebuyers can lessen their emotions to get a great deal.
Every real estate transaction is full of emotions; it’s inevitable. However, your feelings might be getting in the way of winning a great home. That’s why today I want to discuss how buyers can get serious and take the emotions out of the process.
The world is dealing with a lot right now. There’s a war in Ukraine, the pandemic continues to hang around, and some experts are worried a recession is right around the corner. I understand why buyers, especially first-time buyers, might be emotional, but you need to come into the process rationally if you want to find a great deal.
In my experience, there are three things buyers can do to dive into the market successfully:
1. Focus on your why. Everyone has their unique reasons for buying. If your reason is compelling enough, you’ll find the strength to make it in this tough market.
“If you’re shopping for a primary residence, your monthly payment should be your main concern. ”
2. Find an amazing agent. Do some research online, ask your friends, and conduct interviews to find the best agent possible. Hire someone with whom you can build rapport and be vulnerable. When it comes time to make an offer, you need to take your emotions out of the decision. That’s why you want an agent in whom you can confide. I find that clients who tell me exactly what they want are easier to help, so don’t be afraid to share with your Realtor.
3. Fall in love with the numbers. Interest rates and prices are rising, so you need to focus on the math. There’s a lot of noise out there about the economy and housing market, but if you plan on staying in your home for a while, you should be focused on the long term. The everyday ups and downs of the market only really matter for investors and flippers. If you’re shopping for a primary residence, your monthly payment should be your primary concern.
If you have questions about today’s topic or anything else, please call or email me. I am always willing to help.