When you’re preparing to begin house hunting, what do you need to know?

You need to remember that you are not going to get everything you’re looking for. People love touring houses but it’s so important to remember that this is a business and it’s costing time and money to show you those homes, impacting the current owners, and no one is getting paid in the meantime. This is not an activity but a business process that needs to be taken seriously. You’re also wasting your time and taking away from others who also want to see the home during those times and aren’t wasting the time of the sellers who have to leave every time you want to walk around and just look. Be kind and respectful of everyone’s time.

Open Houses are to look for fun but private showings are to get to the root of what you need.

Buyers spend way too much time looking for what they want and in the end waste their own time because ultimately what they buy, isn’t what’s on their wish list. Practicality wins every time because we all want lots of things but what we NEED is what we should be spending six figures on—not things that aren’t important. What matters most for your household now and don’t forget the future. Ask yourself some questions.

1. What are your goals in five years? Your future should be a driving force behind your purchase and the home you select.
2. Do you plan on having any children or expanding your family? Do you want a r have pets? Does school district and a particular school zoning matter to you?
3. What do you want to buy this home for? Not focusing on the things, why are you looking? Do you want a nicer home but really space and a yard or better area are most important? Do you want a nice bathroom or just need one that’s bigger and more functional for your family? Do you want a fancy kitchen or just need one where you can all move around and fit? What if the size and flow of a home are exactly what you need but the aesthetic isn’t what you want? Are you going to make the choice for your family that is based in function or looks?
4. What do you want but don’t need? Do you want a pool and big garage but being in the right location is what’s most important for everyone long term? Do you want it pretty but having more space and being closer to work, grocery stores, school, parks, and other things might be more important for practical reasons.
5. Does location really matter? If it’s important to be in specific neighborhoods or streets, why waste time in areas that aren’t there? Is the house more important than the location? This is different for everyone so KNOW YOURSELF and KNOW YOUR NEEDS!

I tell my buyers to have their nonnegotiable items but inevitably they stray from that list. While seeing homes on the market is of course essential to the buying process, its downside is that it creates “shiny object syndrome” where buyers get so enamored with finishes, fancy neighborhoods, luxury features, and nearly throw away the reasons they’re even wanting to move. Suddenly they forget about their kids no longer being in the same school district when they register next year, suddenly they forget it’s a much higher mortgage payment they’ll barely afford, suddenly they forget it’s farther from work when they needed to be closer, and suddenly they forget it’s more glamor than practical for their needs. This happens A LOT so I constantly have to pull buyers back down to reality and make them go over their list of essential needs again. They don’t like it at first, but thankfully, a proper nights rest and some discussion brings them back down—sometimes. Sometimes even a good agent can’t get them to see the big picture five years down the road and that can lead to regret and buyer’s remorse. I’ve seen agents get blamed for this but it’s your responsibility as the buyer to know yourself and your household needs better than anyone else. You’re the one living there!

Make a list of essential things that a house must have to move and also talk about why your current home isn’t working. What are your pain points in your current house and what do you like about it? Any function you might miss? Why are you moving and how might that impact you down the road if you don’t plan for it?

Question One is about goals because this is a big indicator of affordability too. Remember that inflation rises every single year so you have to account for food and gas costs going up over time, insurance and utilities rise steadily over time. Everything is more expensive than it was five years ago and that will always be true. Also keep in mind, will you have more children in that time or kids moving out? Will you be an empty nester in ten years or less? Will you need to replace vehicles soon? Can you afford payments and the mortgage? Will you have enough every month now and later to put money in savings to fix the car, replace it, send kids to college, put away for retirement, etc? Will you have money to afford simple things in life like the kids’ activities, going out once in a while, going places or taking trips, having emergency expenditures? If you can’t save an extra $300 per month for the future, are you really ready to buy or upgrade? If you have to move and it makes financial sense to buy versus rent, understand the finances and plan well. Be budget smart and run the numbers for the next several years.

Don’t buy the shiny thing, buy the right thing. Even if it had ugly counters.

I’m a licensed real estate agent and mortgage loan originator in California but I can refer you anywhere, nationwide. Give me a call or send a message at (760) 625-6836/agentofparadise@gmail.com and please share this with anyone who needs the information. Thank you.