Where is the happy medium?
There seems to be a trend at the moment where some buyers are viewing more homes than they have previously done in the past and possibly more than they necessarily need to.
So, my question is "how many properties should a buyer view before making a decision"?
I guess the answer depends on whether you are a second and subsequent owner occupier, an investor, or a first home buyer, or even if the first house you look at is the one!
Investors are mostly looking at either location (for capital growth and ease of letting the property, sub division potential etc), rental returns, or a combination of all three. An investor won't make a snap decision unless something is a screaming bargain. If they find a bargain, they'll jump in boots and all, but still be cautious about the price they'll pay. Under normal circumstances, they won't be rushed into buying for the sake of it.
Experienced investors are strictly about the numbers. They don't care about paint colours or the feel of the property, because to them, buying is just business. Unfortunately for sellers, investors don't have a habit of paying top dollar because emotion doesn't play a part in their decision making process.
First home buyers are new to this house hunting business. They're usually the most excited about buying because they're entering the real estate world for the first time. Everything to them is a beautiful house and most first home buyers would buy every house they looked at if they had the money!!
My recommendation to first home buyers is to look at a selection of houses, but when it comes to the final decision, take your parents or trusted relative along to check out the things that (in your excitement) you forgot to look at...
Second and subsequent property owners have been thru the buying process in the past. They either currently own property, or have recently sold. They generally won't settle for less than what they previously had, unless they're looking for a project. These people also know the emotions involved in making such a large (and often) life changing decision. These are buyers who are most likely to look at too many properties and become overwhelmed with the decision put before them.
Many times of late, buyers have looked at a huge amount of houses and then gone out of the market because they just can not make a decision.
They're the buyers who will say things like "if I could just take the main bedroom suite of house a, the yard of house b, the kitchen of house c and the location of house d, it would be perfect" (I imagine some of you nodding in agreement right now)!!
If that I s you, you've looked at too many houses. STOP, reassess and perhaps take a second viewing of some of the houses you have already seen!
No matter which category of buyers you fall into, my recommendation is to look at no more than three or four houses in one day, otherwise you will become overwhelmed. If nothing suits, put them all out of your head except for using them as a comparison (on price, condition etc) when you find the right home, but if one of the homes suits your requirements, remember;
The house you looked at today and wanted to think about until tomorrow may be the house someone looked at yesterday and will buy today.
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