Women play a pivotal role in the home buying process. In fact, many would agree that they play the most important role when it comes to making a decision on choosing the right house. Lots of real estate agents say that if you want to sell a home impress the woman first. There are many families out there scouring the market “to and fro” and the women who are taking the lead already know what they want. So here is some practical advice for the women out there, hustling to find a home for their family, who know their role.
Of course, we all have to work within our means but one thing women often times tend to do better at than men is find great value with limited resources. So let’s start there.
Let’s say you’ve been approved to buy a home for up to $200,000. I get it, in this market $200,000 doesn’t always seem to buy you very much, but don’t get down on yourself just yet you can turn that to your advantage. Reach out to your real estate agent and have them look into neighboring locations that may have more available inventory within your price point than the one you prefer. Here’s why that matters. Think about the numerous of people out there in the world who also want the same thing as you. However, they’re waiting for the right house to pop up in the right location which means they’ll probably enter into a multiple offer situation and over pay for a home. You on the other hand are taking advantage of the opportunity of choosing an emerging location, which consequently means that when you go to sell the home you actually do better in profit than the person who only wanted to be in the community that everyone else wanted too.
The lesson is know what you want but be flexible in your decision making process. Remember, this is a business decision you’re making not a consumer purchase. So approach it like a business.
Next, look for all the reasons that can suddenly turn that great investment into a money pit. Things are forever changing in real estate and if you’re not careful they can change on you for the worst. Be sure to look into the decisions that are being made on a government level that could potentially have an impact on your home. For example, is there a highway that’s going to be built nearby? If so, how far away? If it’s a reasonable distance from your property (about a mile) that could be huge benefit as people will be able to shorten their commute time. If it’s built too close it could have damning effects where it becomes difficult to sell the home in the future. Other things you may want to know about are things such as rather streets are planned to be widened, are there talks going on where the government may have to potentially use powers of eminent domain, and what are the restrictive covenants encumbering the community (even if your home doesn’t have a homeowner’s association you still have restrictive covenants you must adhere to).
Lastly, when you come across the right property be the boss and pull the trigger. Sure, everyone has to talk about the decision they’re making before they make such a huge investment but usually people miss out on opportunities because they’re not prepared. They haven’t prepared themselves for the questions that need to be answered and some simply get cold feet which is essentially being emotionally unprepared. The market waits for no one and when you’re competing against thousands of other buyers the time you have to make a decision becomes more restricted.
Women who know their role are prepared, ready to take action, and savvy decision makers. You can click here to start your home search today.