Dilemmas You’ll Face When Buying a Home

Agent shaking hands with new property owner

It’s no secret that buying a home is tough. However, what makes it particularly stressful is the lingering fact that at every point of decision, you’re always just a choice away from changing your life completely. From how you manage finances to how you raise kids, the decisions that you make impact the way you live. Make sure to prepare for these dilemmas during your home buying journey:

Buy now or look for more?

The right time to buy a home is always tricky. It’s a common point of contention for many couples. You might think that you’ve found “the one,” but your partner feels that there’s a better property out there. Usually, this ends up with either losing a beautiful house or regretting the rush of buying. To weigh this decision better and avoid costly mistakes, you must refer to your list of needs. Whenever a property doesn’t tick off a non-negotiable, continue searching. If it does, pause the search and consider getting it. Be realistic when writing your non-negotiables. You might only be justifying that big garden and spa-like bathroom as “essentials.” Some of the things that you really need to consider are the location, the number of bedrooms and bathrooms, and the size of the kitchen.

Offer high or low?

Couple standing outside their new homeIn some instances, homebuyers feel the urge to amp up their offer so that they can instantly get the home of their dreams. Other times, the right move is to go low and score considerable savings in the end. With that in mind, how do you know when you should take the high or low strategy? Many factors are involved here, but one of the significant ones is the market. If it’s a buyer’s market where there are a lot of properties to choose from, it’s wiser to offer a price lower than what the seller wants. If it’s a seller’s market where you have a lot of fellow homebuyers eyeing the same properties, you want to give a higher offer to catch the attention of sellers. Of course, you should decide based on your budget. Without knowing how much you can afford, you’ll end up being swayed by different influences. Consider your income and expenses. Shop around for mortgage rates in Grand Junction and finalize your budget.

Hire an agent or DIY?

Agents are helpful in a lot of ways. However, their services aren’t free. Thus, some homebuyers go for the DIY route. The best decision depends on your life situation and personality. If you and your spouse are juggling two jobs while trying to raise young kids, then it’s best to go for a real estate agent. If you have the time and patience to take care of a lot of paperwork, then doing this yourself might work. Just note that there are still fees involved in the DIY route. You have to reach out to an attorney to review contracts and whatnot.

Buying a home is tough because you have a lot of options. Your choices will determine your life in your new home. The good news is that with careful planning, you can make the best decision for your family.